LVMH Increases Holdings Of Luxury Hermes Brand

The world's largest

However, the owner of the fashion brand LV and KENZO (Kenzo), champagne Moet&Chandon and Chaumet, said that apart from the announcement, it had no financial instruments that would increase its future shares in Hermes.

Jean Jacques Geny, chief financial officer of LVMH group, said: "in the past six months, we have increased the holdings of Hermes."

When LVMH announced its ownership of Hermes last fall, it shocked the whole company.

LVMH, the world's largest luxury group, always says that it will buy its shares, but Hermes has been defending itself against possible adverse investments by controlling family stocks.

LVMH, which has been involved in lawsuits with Hermes, has bought Bvlgari, Rome, Italy and Bulgari, a small Swiss watchmaker this year, with a view to expanding into fast-growing watches and jewellery markets.

The group's fastest growth in the first half of this year was the watch and jewelry sector, an increase of 27% over the same period last year.

The LVMH group's performance was announced after Hermes and cypress announced more than expected results, further proving that the luxury sector has been protected from global economic anxieties.

After a sharp fall in sales in 2009, luxury goods began to recover strongly.

In the first 6 months of June 30th, the LVMH group announced an increase of 13% to 10 billion 290 million euros in revenue.

According to the survey results of analysts, it is estimated that the pre tax income of LVMH group is 10 billion 210 million euros.

In the fashion and leather products category of LVMH group, LV brand has created more than half of the group's profits. Sales in the first 6 months increased by 14%, better than the market expectations.