On the Money: Louis Vuitton, Mr Finance and Fieldays

On the Money: Louis Vuitton, Mr Finance and Fieldays
So, where exactly did all this old Louis Vuitton stock go? (Image: Supplied)
Dileepa Fonseka
Louis Vuitton’s New Zealand operation, potentially luxury giant LVMH’s most bijou, made a laughing stock of struggling NZ retailers last week.The company defied macroeconomic gravity by bolstering margins, contributing to a 30% profit gain in the year to Dec 31, 2023.To rub salt into the wound, it achieved this in a year in which it declared more than $3 million worth of obsolescent inventory.The $3m is a drop in the bucket compared with the total $3.5 billion across the whole LVMH group – the world’s largest luxury comp...

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