×
857
Fashion Jobs
HUGO BOSS
E-Commerce Operations & Logistics Manager
Permanent · London
VF INTERNATIONAL
Senior Credit Controller - Multibrand
Permanent · CALVERTON
EASTPAK
Credit Team Leader - Eastpak
Permanent · CALVERTON
HUGO BOSS
Buyer Emea
Permanent · London
ESTÉE LAUDER
Aveda - Omni National Account & Operations Executive
Permanent · London
ESTÉE LAUDER
Demand Planner - Supply Chain
Permanent · London
ESTÉE LAUDER
Director, International Business Development (Maternity Cover)
Permanent · London
PAUL SMITH
International Sales Executive
Permanent · LONDON
EASTPAK
Sales Manager
Permanent · LONDON
NEW BALANCE
Category Merchandising Manager Emea, Running Footwear
Permanent · Warrington
CONFIDENTIEL
Warehouse Area Manager
Permanent ·
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Liverpool - 26 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Boots-Aintree, Liverpool - 11 Hours - Part Time, Permanent
Permanent · Liverpool
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Newcastle - 12 Hours - Part Time, Permanent
Permanent · Newcastle upon Tyne
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part-Time - Permanent
Permanent · Bishop's Stortford
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 37.5 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Clinique - Consultant - Boots, Oracle Reading - 28 Hours - Part Time, Permanent
Permanent · Reading
ESTÉE LAUDER
Clinique - Consultant - Flannels, Sheffield Meadowhall - 22.5 Hours - Part Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - John Lewis, Cribbs Causeway - 37.5 Hours - Full Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
Clinique - Consultant - Boots, st Davids Cardiff - 30 Hours - Full Time, Permanent
Permanent · Cardiff
ESTÉE LAUDER
Art Director
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Fenwick, Bracknell - 11.5 Hours - Part Time, Permanent
Permanent · Bracknell
By
AFP
Published
Feb 10, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Fashion overtakes food on European stock markets

By
AFP
Published
Feb 10, 2021

French luxury goods group LVMH is now the biggest company on European stock markets, ahead of Swiss food giant Nestle, owing to resilient Asian sales last year, data showed Wednesday.


Louis Vuitton - - © PixelFormula



LVMH's market capitalisation reached 271 billion euros ($328 billion) in midday trading, putting it ahead of Nestle's 265 billion.

LVMH is comprised of the leather goods maker Louis Vuitton and champagne and spirits group Moet-Hennessy, but it also owns brands such as Kenzo, Guerlain, Fendi, Celine, Chaumet, Sephora and Bulgari.

Its most recent high-profile acquisition is the US jeweller Tiffany.

LVMH shares were pummelled in February and March 2020 when the coronavirus pandemic hit, but by early November they had bounced back, and finished the year with a gain of almost 24 percent at 510.90 euros.

Since January 1 they have risen by almost five percent more.

Regis Begue, senior trader at Lazard Freres Gestion, told AFP that once it became clear Asia would weather the Covid-19 outbreak better than other parts of the world, luxury stocks went on a tear.

Luxury groups with a strong presence there enjoyed "an exceptional market ride," Begue said.

Another trader, Arnaud Cadart at Flornoy, told AFP that LVMH's rise to the top of the market capitalisations "is a kind of consecration" for the company.

The group registered 34 percent of its sales in Asia last year, compared with 24 percent in the United States, and has managed to boost online sales as visits to its various shops declined.

"LVMH products are also ones you treat yourself to. And a large amount of savings was accumulated by wealthier groups that were somewhat spared by the crisis," Cadart said.

"A Vuitton bag or Christian Dior outfit is something that could replace the trip or restaurant you could not do in 2020," he remarked.
 

Copyright © 2021 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.