18 Sep '11, 10pm

LVMH sees no signs of slowing demand for luxury products: "Even in a period of crisis, people want to treat themselves"

SINGAPORE - LVMH Moet Hennessy Louis Vuitton SA, the maker of Celine handbags and TAG Heuer watches, sees no signs of slowing demand for luxury products in Europe or America, said Mr Yves Carcelle, who runs the fashion and leather goods unit. "Even in a period of crisis, people want to treat themselves," Mr Carcelle, 63, said at the opening of a Louis Vuitton shop at the Marina Bay Sands in Singapore yesterday. "We don't see any signs of slowing down whether it's in Europe or in America. "The world of luxury doesn't obey the same rules." Mr Carcelle said there will be less net opening of stores and more investment into improving the size of stores, because "luxury retail has to be a luxurious experience". Three days ago, LVMH named former Danone SA executive Jordi Constans to replace Mr Carcelle as head of Louis Vuitton at the end of next year. Mr Constans, 47, will work n...

Full article: http://www.todayonline.com/Business/EDC110919-0000316/LVM...

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