Luxury brands Louis Vuitton, Christian Dior and Hermes register huge earnings in January-March quarter

Leading luxury brands like Louis Vuitton (LVMH), Christian Dior and Hermes had a red-letter day as their January-March quarter earnings soared significantly. While LVMH stayed in the lead with a brand value of 10.19 lakh crore, its January-March quarter earnings soared 17 per cent. Paris-listed Hermes also saw a huge jump in its earnings, which jumped 23 per cent against 13 per cent year on year.

Notable gains in Chinese market

While luxury brands had a field day in global markets, brands like Louis Vuitton, Christian Dior, and Celine made notable gains in the Chinese market.

The sale of these products soared 30 per cent in China. It is reported that luxury brands had a strong footing in China as the country is rebounding after coronavirus-related restrictions were lifted and the economy started regaining pace. 

What dominance brands like LVMH, Hermès, and Richemont have in the market can be gauged by the fact that 75 percent of the global luxury industry's earnings came from these three brands.   

It is estimated that the luxury brand industry in FY24 will grow 8-10 per cent.

The most valuable luxury brands

Bernard Arnault, the richest man in the world, owns the most valuable brand- Louis Vuitton, which has a value of $12,427.3 crore (10.19 lakh crore). The French brand is followed by another Paris-based counterpart- Hermes, which has a brand value of $8,032 crore (6.58 lakh crore). London-headquartered Chanel is placed third with a value of $5,302 crore (4.34 lakh crore).