JAMIE CARR: Chinese lap up the luxury

If you were asked to consider what might be Europe’s most valuable company, your mind might wander over some German industrial powerhouse, maybe a financial services giant or a purveyor of hi-tech weaponry to Middle Eastern autocracies with more oil money than friends.

LVMH’s soaring sales growth has been led by a remarkably strong performance in China, where punters have emerged from endless lockdowns with an admirable determination to celebrate their liberation by shipping in great armfuls of luxury goods. LVMH certainly has a remarkable array of brands to enable you to see off the effects of a recession in some style and comfort, insulated from the cold in your Loro Piana knitwear while keeping hydrated with a sip or two of a well-aged Château d’Yquem.

This was presented by the company as a way for women who had been shunted out of the wartime workforce by the return of the conquering heroes to earn a bit of cash while remaining anchored to their domestic setting.

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