Andrea Felsted, Columnist

The Rich Are Living in a Different Economic World

Look at luxury giant LVMH’s recent results and you’ll wonder how long "luxonomics" can last.

October 12, 2022 at 4:18 AM EDT

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Going strong.
Photographer: Pascal Le Segretain/Getty Images Europe

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“Luxury is not a proxy for the general economy,” Jean-Jacques Guiony, chief financial officer of LVMH Moet Hennessy Louis Vuitton SE, said on Tuesday.

He could not be more right. Browsing through the third-quarter trading update from LVMH, you would be forgiven for thinking the world wasn’t facing geopolitical turmoil, soaring inflation and sinking stock markets.

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