76
Fashion Jobs
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · THESSALONIKI
L'OREAL GROUP
Senior Product Manager Maybelline – Consumer Products Division
Permanent · NEA IONIA
CLINIQUE
Consumer Marketing Manager, Clinique
Permanent · ATHENS
LA MER
Consumer Marketing Executive, LA Mer
Permanent · ATHENS
TOM FORD
Consumer Marketing Manager Tom Ford
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · CHALANDRI
ESTÉE LAUDER COMPANIES
Fixed Assets & Decorations Supervisor
Permanent · ATHENS
SEPHORA
Accounting
Permanent · ATHENS
SEPHORA
Category Specialist
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Mare West) - Μερική Απασχόληση
Permanent ·
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · PIRAEUS
H&M
Hiring Day Chania - Sales Advisors
Permanent · CHANIA
MAD LORDS
Sales Assistant Scorpios Mykonos
Fixed-term · MYKONOS
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · MAROUSI
FOOT LOCKER
Συνεργάτης Πωλήσεων
Permanent · ATHENS
H&M
Σύμβουλος Πωλήσεων (Metro Mall) - Μερική Απασχόληση
Permanent · AGIOS DIMITRIOS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALAMATA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · NEA IONIA
GUESS
Sales Advisor (Greece)
Permanent · ATHENS
BEIERSDORF
Junior Pos Materials & Execution Specialist (Temp Position)
Fixed-term · ATHENS
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · KALLITHEA
H&M
Σύμβουλος Πωλήσεων - Μερική Απασχόληση
Permanent · AGIA PARASKEVI
By
AFP
Published
Feb 10, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

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 © 2024 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.