LVMH to do “slightly better” in 2018 compared to 2017

World’s largest luxury group LVMH will do “a bit better” in 2018 than this year, the group’s managing director said on Monday. “I think that in 2018 (LVMH) will do a bit better than in 2017,” said Antonio Belloni on the sidelines of the opening of the group’s first vocational training programme in Italy, in Florence.

Belloni said the group would “continue with this trend” of investing (it has injected 150 million euros in Italy this year alone.) The group produces high-end accessories for its Fendi brand in Florence and has is invested heavily in the country to source raw materials and produce fine good for many of its luxury and high-end fashion and accessories brands including a new Céline manufactory which will open its doors in 2019. “We took an old disused furnace. In 2019, in the summer, we will start producing officially,” advanced LVMH’s managing director.

Last month LVMH reported better-than-expected like-for-like sales (+12 percent) for the third quarter of 2017. Revenues were 30.1 billion euros.

FENDI at Printemps for Christmas 2017