Bernard Arnault, LVMH chieftain, yesterday became the first luxury CEO to dare predict 2012 was going to be as good for the seemingly recession-proof industry as 2011 and 2010. Way to put himself out there!
The occasion was the release of LVMH’s 2011 annual results. Specifically, Mr Arnault said he was “fairly confident” about growth in 2012, which may not seem like a wholehearted rave, but compared to what I’ve heard from every other luxe CEO qualifies as super-positive. Read more
Vanessa has been the FT’s fashion editor since 2003, and is based in New York, though she lived in London for 12 years.