This year's luxury market not only continues its growth momentum, it also seems to be ushering in its best year. In the Bloomberg Billionaires Index as of July 18, Bernard Arnault, the world's largest luxury goods group and chairman and CEO of LVMH, the parent company of Louis Vuitton, has increased his wealth by $39 billion this year to $107.6 billion. US dollar net worth, squeezed out Bill Gates to rank second. Luxury leader eyeing China's post-00s Bloomberg Billionaires Index ranking, according to the official website Interestingly, this is the largest increase in the wealth of the richest on the list so far, and it is also the only luxury industry boss who ranks among the TOP10.
This is mainly due to LVMH's stellar phone number list performance in the first quarter of fiscal 2019. The financial report shows that during the period, LVMH group sales increased by 16% to 12.5 billion euros, a new high in five years; in the past fiscal year 2018, group sales rose by 10% year-on-year to 46.8 billion euros, and profits rose 21% year-on-year and broke for the first time. 10 billion euros. The contribution made by the Chinese market plays a decisive role. LVMH Group said at the first-quarter earnings conference that Chinese consumers have brought double-digit sales growth to Louis Vuitton for many consecutive years.
Coincidentally, for CHANEL, the world's second largest luxury brand, stimulated by strong demand, the Asia-Pacific market, including China, has become the brand's largest market. In 2018, CHANEL's sales in the Asia-Pacific region increased by 19.9% year-on-year, which was nearly twice the growth rate of the overall sales. In contrast, the European and American markets grew by 8% and 7% respectively during the period. The strong demand in China's luxury goods market has provided basic support for the growth of leading brands. According to the "China Luxury Report 2019" released by the third-party consulting agency McKinsey, China contributed more than half.