Antoine Arnault says he’s "positive" about LVMH results
today Sep 18, 2018
"We are not here to buy anything," Antoine Arnault told a handful of journalists, including FashionNetwork.com, on the sidelines of an event held on Friday, September 14, in Milan, to present “Les Journées Particulières” programming.
The 4th edition of the initiative, launched by the eldest son of Bernard Arnault in 2011, will be held in 77 exceptional places of the LVMH group from October 12 to the 14.
Asked about recent rumours surrounding the possible sale of Florentine label Salvatore Ferragamo, Antoine Arnault, who is a member of the luxury giant’s board, commented "that the Ferragamo family was right not to sell."
As for the results of the group, the French entrepreneur was optimistic, ensuring that the positive momentum from the first quarter continued.
"I’m feeling positive. The first two quarters were very good. LVMH is very diversified, both in terms of activities and geographically, which allows it to maintain balance. We are well equipped to overcome any possible crisis," he said.
He was particularly pleased with the performance of online sales.
"E-commerce is growing even more than the rest. The results are excellent. It is one of the growth drivers for the future. But we must continue to invest in retail. Nothing will ever replace the in-store customer experience. Online is a customer service. "
Arnault, who is also the general manager of Berluti and the president of Loro Piana, confessed a preference for the latter brand, known for its cashmere products, bought by LVMH in 2013.
"All the activities of Loro Piana work very well, especially the shoes," he added.
The product category, introduced ten years ago, has been accelerating for three years, thanks in particular to its popularity with younger consumers, said the director general of the brand, Fabio D'Angelantonio, who also participated in the presentation of the Journées Particulières alongside many other managers of LVMH Italy.
Finally, Antoine Arnault mentioned the recent appointment as head of communication and image of the LVMH group.
"Every house is independent; I don’t take care of them. Likewise, I do not have a spokesperson role for the group. On the other hand, it is up to me to escalate brand information, if it’s necessary to make a communications decision," he explained.
"I always played this role. The appointment was just a way to formalise it. It’s an interesting role and also very important for the group. That's why it was preferable that it be entrusted to someone in the family," he concluded.
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