The richest man in Europe has become even richer – Rambler / finance

The company said last week that there were signs of an industry recovery amid the coronavirus pandemic. Against the background of this announcement, the value of LVMH shares increased.

So, from 15 to 22 October, the value of shares of the LVMH group increased by 6 percent. However, on October 15, the LVMH group, which owns brands such as Bulgari, Guerlain and Dom Pérignon, reported a 21 percent drop in revenue in the first nine months of 2020. Revenue from the sale of cosmetics, beverages, jewelry and retail in the third quarter was lower than in the same period last year.

At the same time, revenue from sales of apparel and leather goods increased by 12 percent, including due to strong sales of the houses of Louis Vuitton and Dior.