The fortune of the president and executive director of the LVMH group, Bernard Arnault, increased 5,100 million dollars in just three days. The increase reaffirms the tycoon as one of the three most millionaire men in the world and the richest in Europe, reports Forbes, citing a company statement.
Sales of the most important luxury house worldwide grew by 17% in a quarter. LVMH announced that the significant increase in sales was evident even in Asia, despite massive protests in Hong Kong, whose territory represents between 5% and 10% of annual global sales of luxury goods, according to analysts at Bernstein Research.
Since the market closed last Wednesday, the price of its shares rose 5.6%, increasing Arnault's fortune to 99.2 billion dollars, behind Bill Gates, with 105.1 billion, and Jeff Bezos, who tops the list with an equity of 107,500 million dollars.RELATED
The LVMH conglomerate encompasses 75 top-level brands such as Christian Dior, Louis Vuitton, Veuve Clicquot and Sephora, among other renowned wine, spirits, fashion, perfumes, cosmetics, watches and jewelry companies.
The company said its makeup segment grew rapidly in China and opened its first Sephora store in Hong Kong last month. Growth in Japan focused on higher sales of wine and champagne and, in general, the highest changes responded to the fashion and leather goods market.