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France exports more Louis Vuitton bags than famous wines

2024-04-20 12:15:46Lifestyle SHKRUAR NGA REDAKSIA VOX

France exports more Louis Vuitton bags than famous wines

Global sales of handbags and perfumes produced by LVMH represent a larger share of France's exports than all the Camembert wines produced by the country's famous agricultural sector.

The Paris-based luxury leader accounted for 4% of all French exports last year, according to a study by consultancy Asterès for LVMH. The 23.5 billion euro value of its goods headed abroad last year exceeded the 3.2% contribution of the agricultural sector's total, increasing the importance of the luxury sector in France's trade balance.

LVMH has become one of France's best-known companies internationally, manufacturing most of its products in France or Italy to maintain the quality that allows it to maintain high prices. The US accounted for a quarter of sales in the latest quarter, while Asia accounted for just under 40%.

Sustained sales growth was recorded in Europe, Japan and the rest of Asia last year, but slightly less strong in the US due to the economic situation.

China is in a more complicated situation for the industry as demand for luxury goods falls amid an uncertain economic outlook and rising trade tensions with Europe.

LVMH includes many important brands, ranging from fashion house Louis Vuitton to champagne Moet & Chandon.


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