Consumers still appear willing to spend lavishly on luxury clothes and accessories, even as markets reopen and other activities like restaurants and travel compete for their discretionary dollars.

The world’s biggest luxury group, which owns 75 brands ranging from Dom Pérignon Champagne to Bulgari jewelry, said its fashion and leather goods, or FLG, division was once again the star performer in the second quarter, FLG activities posted sales of 7.13 billion euros in the three months to June 30, up 40 percent on an organic basis versus the same quarter in 2019, reflecting the resilience of star brands Louis Vuitton and Dior. Continue reading →