Retail
October 11, 2021
LVMH, the biggest conglomerate in luxury, has continued to outperform its peers. How? It is mostly down to the spirit of conquest. Photo: Dior
{"ct":"xEq1p0O5RC2ftUvHLG1\/ZUDbD9tpyeiRH\/e5hvwUwWqyA4rYRSYUlyZZDJYrX+HpqFcb0ibvMBFLYOXN8DszQ8gOYieg97RPxgs7nhEYV1o3wU8\/wZDlC5rjibY0KzX0MwY0U8d4kTzhVQceI4dCj\/CYBwG\/x3v4+Hrpi4mUmqxyZjRkf+CeRQx36BMHnb1\/4fHE82hO4QACVTKQS2nJoLYeGzZhLJNJjJw6s3oOBZKIJOMecZP+ir3pd0bJ2JfgjSU3Gxcgstt8b7YT\/ZI+q+aMFqvFuBT7C2s3lX00bLWcO9ycxfDYfJIg2S8hurGXFBVpYXtAzfIwaEXvDf3Js8cdnVwxzjKPgJ5fueMJ46yvDJ8BQBV5EukI9yuZsevlVq6FSe+BVIHC78Q0jwwcKDvKveF2cSv\/w+LTVmyHqx8wYjh3P3nbiquUX7xwRzTyjfYzAYzJcN5KluLi7nzJgNtpm75tlI6zvDzLWELmbGBKVP6dHusLOPGEZZcwfgiHw8EUx91A7Ew+ExoVSQOoybp0wNYSK41wRG6bR1oZG4ID+tgV9Gvs6pJ8t0fvJM9UMNlhkAyf5IvCkpmvpTz65hg9E4r5at3x00EYXyrNzMcLP\/CnMUXfqwDVOj8RI\/Nw0NQD9AfWAKfsZPaBIJA7HHR4ozFiYJ80aMDB60aEw+N3BsNqhisgjnWDBHdT5udqjMUUUGYg0NWRpJbg4zHRbKOQcQnL1god9TLQCHODIKQgGM7\/wAbxVtEQ57yt\/pAvhZzmNaejfi5+36wd2E6EYSmmFI\/zazQVa8k4XbyeUhIB3Nuh2u7EeYUGUOGewDlB+S7j8S3dMZApufNihIigMg\/LpcpO0sXYvDr0VfjznF2LeiWdu1+n1NJoYasT6thYy4D6NbAN16W6YJ4j985g\/1c3\/WOIoyozORZ3kh28h9oWdbjCk5BiGMjcLZd0Qjv4JH1H8TaDMSxI+99ILqtpT8gvLkpm+1wA37gfi+HYZxT+I7pCHrFdfy6r\/nB8JriXJoZCcQ12l2WxXTwi7OW4nRPSx++a2n6Kl\/9buhPf7fC8k+sIGGJ9v\/IltaIWIMBYYUy3x6zbVMrHZ+RY3sFi9pVLT91K0rw95Xa07yH8LLD0FD69dfmgAxG2Zae0dpuVRuMa\/H6Z63H0xYTiWbwUvGBlFItJEAF3sJmDTEQOu5ih5bvtg1+FBcybP0wbNqt30ywpq+pP8aSXnjnohqIGfdq+rX8oXoZrl\/E\/LmtpEOEYDvRkK722NIae2MfcAZyKdQFgukX1Kdh68bp8tXYz93HXmbk02MLYPMwQdtYBFjR6qNXPgCifUSJhSkXpWcVvmZaar8UvzTRUPoU5bOFb1lcGs\/LmXRb9Hw5McIMNTRfuUWzd8USj7HrT+5EKrQIWJNlvWsOkIbyHvYRpU\/eTfMsyu8whWA96qpEbxWR9\/qqDBusnXm3BKPKKtFydQRjh5gm4F0v4\/QNy4oVHW46D8kI0hoA08U1gPJjle6PzmCULKeqktI08+4g4sw3GzdaSvOgeAtPUA8wgc2CTxMccMACHz29rJKLP5Y\/Vq\/0jvu1avQoRpp3L1479cSPZJpaBXIEV0F4DJYvw\/iejiAa3+73XHbmZenGC4tqaF99WetJPjFx6yVvhvfxRt+BGaukKhfqb20eKtE6rW9Si6nUZoey0W39CosdhHt\/zxGCT9BpErQv3XNWs1Yh4INMlUXQwrJcXipQ1wZYW+2OK7p7Lig7\/qZ77uPcRPKY+y3uU8vdWbpLxC2HawrlC+iVCaUWO9BRbzLbO8PBWeSalcWv\/rnqDwVDSMK+G2EzZ7lw05nbctORFd1btJycFQKMukGihT+vbE2eTyz8emOdX6\/g98m6ZjQQRx4Z5W8KASNviBgl5u4Evj4346qpbosVu5GLVV0R4ZJ7Kv1G06keU4bTBNRG4QMIWctuH8jP5WdE\/r2HKN7+n2pJe2+K3Yu\/SzYa5ZGqZ9LY3\/yiuo5Ikex53c6+jEcK85xLH+WQqcs3yLRj8vMnyf3M7zKo8SbVXkluACUQFFjqCP7tcDqvcae5oe7MLYfx12DHf+m9u0otkdgu+qLo97D+7Sz2n6EVz8ptMFhoyCHD8VQc+zTRprs3dwIHjO7MpimsQx\/ulD4zYzv4wn9uFhQPWPkLz9YpNNNVl41O2+DOkJ\/g7mpIPPnUH+TJazVQmkEssjR1bECMCE0AFodiZYibt0T0cKAvvu0DhSAZKSUdxAmSPVV7F3uHQ2zrP+u3r6Eu6mAvmhYoNzw6HqfTuwkzZ+FUJ08JDOinOXC7nEjcNX2mG+9X0nAqE9rJeNW7K2y2cE2kqCTAwwyZsSbZFhiKF+uLMIY8+xKfq\/ZNQArmi8P\/PswTakGNwxHkfBy0oHE6BmXp4PrLvM40KWAvh7rICdec5Rf+gNWMRrjueIYpLUYdDGPFY\/rVRpbIjlxMha1rQOciPrIr\/WP6onqs4VZvRJqAbr1BR6j1SJ1ESM1gZQvwoQoVDEUbSlrZ7eMMNjhBpNYqXI2tmbEzJeEUVnkENkb52u5SlfFkIzSEY1TFASey2SDq\/sgPHEH8sgJWCU3iPBiHSu8y9k2+w4rcEFgBGSYPLJiVX\/Ey4ej44nej3Y7se0M3PJEeS24vrtW5PSogV1DwColtvqQPh\/95afjy6BLaGUBHlL700iJESsjy\/HK1OpF02dyXtBiP94ZQq\/H1KnyVI+9QewTa3AXDA8ZS7zElyuxRFLKONan+x4ju7rCzINQyJSe24UY3JBKXDa7Icl2VuXadcMbzbLyPLvlj7zq\/p10\/1kHcrVHobFde9Ypv2+kjkH45qD6Iw5Lr0nS6h4EuAfvsVIjcg5UMA2h6Cq6\/zsuuRWRwHSEXniTPEmRMjslBf92oCAP7p5RFpGgcu6RWrxM8\/aLt0NB24aOKTnn0elOhkn+63fXCcqYFioHGpAM4GM4g4B9pe21BfSii+D3BV0E0Fzhtk3zIdqfESY+tOQEmcMkR1PKUw0Lbqm7rX1LkOz9jL4QwaNJGnbYWb+ve26kIaE+lX9en1lq\/yHKEXlj9mEFDN+kz1FOv8+OMjZzTIbUKagKac6gtH7u1F8gWFBQUc5EVMqUzB7d8Ws+6k2KGkN7nR2ypRn4NkNgYXrkdGMAlgdoLmbfyhyipS8EC7EyFma6ErzJ1FkDC64GXbE2lloL3L+29NPIz8hTfER5Pe2lD5WWbl5L+Xw6s4gS+PorkTBfpQbLaJoBabt8hHO7Sa1gk3rxzFReqlmC8jWK8t7aPUzNV09qvN4W6PpjxVf9mI2ppp8hxwVP9o+h3oKXoog1kMjsL1fktR3S1iS+AffEuz5IWxAgQ6q6Jm05p9AHoCNQ7E+LtCZ1ns00nbWqdhCHXKB8sL83iKiSvk5S\/iqo\/dhgPzpJK\/A8kmx6vwyWnoVYCCFYAjueAGhBGxu0YrQJcXoas3XvZx0\/YHpz66O1+hvSa4H3fyZjBEVVBUVfdxTXuA0Y8XKei5KCBs1iIBvv4ouKQczXM+zM5k5xucpMpAmSAgKS34v+h9ocHyizpc0ly963OmvDiFhuMZysPGstMPElSatuDn4cfZMUjpLdrcnmQqDAQIxCZuzbhpsad6OrdBX\/rZaFZ38gSsBC7Q8ufS79uQIv7Pm6xd6AEjHfiEX5onCcYCwZdP5p6bzXZ5UabF9B5trunyPWdy6KK01EidysfnsCAaukfJjJ6Pt\/8BSE5m6CZ4sEsdM7BgOQkwYt6zM8rv8gwM86Q1hZ4ltB8By92hvwma8DMzgtDbwvZp5dqRZI5J14dtnvTuUVtjkmiWZHF5\/GhdYQHr8sXW03CUwrN67Vv7rQXTBZcWRkz4pYwFeLLH1JpQMe2BgfeQB4DTSYzZWZh8Y7Op\/VSGr6MvsJyM4XiWQ0Gd9FCBcEFHTworWAytDag2vdmst6PXOk\/0BaOFkUcljwQoCiqBJxsMvM0\/88rLujzyFIy0ojtn+pxFnemaiourpnb2TlQupNH5jUnfWu2hT0NmhORAclHbpW90FPFMP9dkfpLmsmHyXcqhUxDdCL8TU9QFx\/Bb0OakRoVMmmNKNaYb2\/YbTuA0ng5HlV9jgSwCHsorlExiL\/fctbocfgCj+hmdX0BDPkoD7vAqAG28OVtmoBZFNL7wfuu\/FzEgIT\/ABMrTcArtPnAoLW3td\/j3j189iZKxnWY+qgqWArfJHye\/KdpAm8Q7cHy6jUCSB3Ngzo42Yk9ehLhrjyJC5SY+KBCEUq07vdR1rPXgq4E2CITNqA4SwFJ0vLGBOxeqCs1q1er2DXQlGKPy08lTUjedWMI6251QPhkXubOG28VyVZ+Sns7tteJq8M5TPjWB2kNdlWqDWJmieDrCp3DGNVqW7f+G41AxNFGZTIfUhAIU1tLJb+DnHc+OKXbeO8hMPfmsiHmLixUKhPe\/CZCmm7HDEsBUoI8BusATvw30wi3oN4ysNOYOarbauLafZc0T9\/RYd7o01ooxfAaMULEunXBRRzpYGz02a3ntzIcBrTqJzA0OVBKSjVqbsIN3ecrvA\/WSSFev3dt\/jRtTwDqMfL\/GV1yKLhi6VTGO+E2hXMdyHTcHdFAz2at4SjOeG8LlzlqbMvktNvlYk91vD6UfXNr1GOUUqQDk3EOXEfLzXNJKpfE35\/Sttm2it6AbBHSVWWNKfywr4Uz4xipaIws4dQSK75lxRxGnt927f0286E16Ob17\/i0Ah2WUIiTWpE1\/ARN5mWmMUKWT85vZ3VcS47qi9DBVZx6CLa2zkuXkFIHSlXKIrKYqfMqGC9tMf44AS4Xc8oaligDHrZkpdnohurQqMbrNbpG\/g3Mgno3Wr3eg2BOJa1LA1nCejLeR40YGbC4xaRyYLrjCc+wswKK14LEBRJGOLrY0VYYOqxi+oVUMuG4QXM8JXN9YOCdENtWgbbZlk2Ozfa1jadm8SUaJ7\/FgBT1Yrt+uy3AxVqNImLsK9NznI6SD1fFW7gqIaWMozZPC7XnW8wGJb47B10\/BWctfZEIIKLzuU82+3DwI1nGswQeLpymn+ryyOXqvzxJN80zb8Uk4A7wFd+ucyvs2zwWGETkFJySm9rnxfWtgDnztFpV6CCoSN2lP9jfwODYSkgz65oBNl\/3LrXoI2xsmnA2VEKK63kKV0H1irSEofO7cbBIb45qPmaLeBCF\/EHsBabTKRHpIigg+qZ3svcUcpIuSjXMvWe7WQTGEeUw\/xdS5adXGzHzLhKPIVfgXzQZRvS1gzzZWoEoTA+9k0+IWppdAk9s\/sqMvRILL17Obi2zoSIc4xfyiTABLVnPBNGQm3CDnHI5fpOdcQQlpKyrmcxLQSOP4HlcRJ+LC7\/YMzBPqZXYf3K6s8EHeHRPffgWYPHl6PIegdfHY8GEqKdFINcFODhRM6vsrUUZgi0k5nA0lpKns+d3l3KXkbO4B3xKyv04nrdqSw4shR6rdVZZMdw0KETC4OWxDZxySbK6LyXCyWWqX5UAyv1o5EGG3m3mjTpMLfzUh6RUGZ22aTp6Cy8SX40vgxia4S\/x128f00oUb5FeeO\/kyloBrqx1sE0FjQG19nXfd99n3v3uZrWT8tulDSxJYuQ3v\/VRmO1gx72ggBdqMBRHtQND\/MUcYiROdal5EnwJKUvO1Juo5m1Cy0dRamGfhIguT7VdQ4MIZEN7yarABz2oX1SfbdHfri1F1lKEdCNhZ2KHBmt9r3jUWKSWbRnbVsV\/YgFoyTC++gcE0zkfhbdEWwZnaD2t5AzxxGZAYfP\/mei\/8TkSsOTvWObKLRDQpx8PNOWb1qhn1IuauAgRJQjB9krUXc3uBiXhfHBh7cS+xz7iCVVR418aHX0mRvsEla4gK7uQObrPvLkuCHZr7W8lnZ3w5dZHjblkVnrK2cQ9xrrPdmHLGIIYXtrMqhvAqt3vQj0UIm2PLu8KH6Ztoa092mlIjUQSJhEqdpHGSjLKlu2527y6f9GA8e1ahWFZ6OZtUqvUqMhuAtIAtNEBHNcYGxOEZHR+Fyhzz9rCMNs0iMHnowJArsiGtJJRBPNqqRizTcHlBVAKx23hwSrASzX9JJZrbKxKv97xsWaO4bPGA13abVUG7kqlsMGnbiDnbQqMedYnMqO1\/OzYvOqt\/xrIUDSTjeXvGD16tZldbqJfFZY8X5bxyVNROVO77efVoJ\/z5X8W8stg0nVqTHBMvtRUveGKTAKLhglnXe3QuY3PhA9mBqzRAH+TMfZ47rgsHDF+pLMWTAqGhzdbu9S+zh+XSuMEDZXkrDbgVPmRVgX6pPV0B3ibeccXYnOn8S9gBo5175Iv\/DyX8uU08dKIIF6dYoFwH791PjXHIcW90LF+0aZZG+YJz28kz4jGujzVcWTGWCCtsnNNdcUo7KyG\/mSdp5W9k380ld1GZUDZ7WCZqRs6jmg3WB3d2k2HfZNJ2BFljlKIJxFP7e1ECUwVBryVVZQiNRwEyXjXuqRdIE6w3p2s0YuKHI\/jOH5135IqUzBOh1alRhOAI1Zd8hEv9fOZKMUyHynlX7+NkQtrtm3Mkkj0Mv9O49AWiCn0oG+GadUayI4ZxL+UIV00zIclhZskRtFUnuU2Hb9Xghg2V7U4dC\/KhRo5KvjIhu7OUZ3m2zJScN\/VIWotZEckcDNfYwetm5dldYS+3i014U44RGPioKetjb2xdEJICXXpfblqY66udug3jPqfM6VGFvZmMAif+QLT\/xUnlVFFdNuxFxK3Jcw0K8DMMeyEplPMJyeYCRejWhdJOh\/dq5K7queqijqEKNipR59pJzfuBK1VUfsf6tDjoOEk0dk7QD1Gds4lCW7gdHqvAQqk1T+ddRJCJo0iSZJVCUwAjyUO0vbQ8eYWW+v7tPZPNTs3cSUD0TpJaomhtLEqg+FgyrJ0yqDuQvDmAtQP21SxYTicRkCBQdamhQbVGn50h6QSj6AFysG48cD5\/vL8NQmwbsIWdUtF7\/Ifaqtn7sVSjbF8Ru2gI7NhQEk+lt5S0gSbs\/ZuevUR6PG8C6qJwjAvaTuT85Vz1CqhowDkwXRxIHOeC8EKYkL3Wk7TV4PD4imzoj6z+yBfB8Gxpn7NtDswdt6XzVzdLajE\/gXByW5BQBwIQoEEn7IfFYCZP2AmqV1qVGaS+yGFx0RQJs6\/XdkzUISI+FbinRIEHaeTCBq5Rd\/TEPoUowteXfsT6o\/vMxw7kp3LsSxOvgb\/Q4FBCKrPrQIxBr\/SAdVkImZaJ346Q4AhIDQIFqePL1p\/NsDNjPPy5iDAeiOOYOGede88X+eZNFEvSqGTAm3IFlG+i6XhyHQygbvMn9OsQ46T5nRXfaUh2LapbU9HBvw7GdUvIygNDHQ0kNxV5h8vJA8QboPFKr13GgWRZ4CicOBKIFiZ0h9tgowu2bxabKLdm63HfGkRLY0nFaEyn+\/C7EmK49EZ8B8fREZUei1CYYl1Kv36hmSEdv3683FOS6tZNCsYdhiFvN3is5B\/4J3Jnne9tPBxyJ7JtauGsMKfR8wISOaE30ICTA6HJCAyP5oxUdzBZl0ecQKjRxSEUgd8uC5UayULo5KEoTxiV5U6CJkri5NaOGLuDiWFKtaOAcH7HeWbtWFiwv7G6Wx5ces2FNATj8niGv5R1DNtFwfwzWZQuK9UhdA+Taz1+WcU+rACSZb6nnMrFCYxsKCRWTV7Ty1HvjaG1dqv3NW1RWP6dcILp7gN5BpbUDsKiG8nFeOH\/ZZsWOBr1bla\/k2SN5WtlLTeFpvCXLeAUT0X0Ie8aO4OxviTTocV86f1yuH3G9sZp878TCC8qb7jfFyLKTjtMwmjVUwop8ToUm8IM1xgsXTaLPighLIKOzQ07Z1NNiU8QhqoqOyfSKfTWiOGPWW5d5elWd\/9xc72uUWdW3X6BPCVvX8tEas4orTHF\/k7O0T+kJo0PLSQ6b3EtXwliDC64nsmeEgZFHZDUODlLThx0Ss7rw1MPxsuCw50N85z8qTCXp35oXV+DzyIK0AaAeP26NDYj1zeH0fAmK4\/10xTZNRpD4t0MtmsiGQBRDk2ymbjWjNkUmiwM4\/HDZLpo3I0IWGHUjEosux0yuWOO1FVaG6\/AI\/JBNFGv81+YY4II711jGyLHUCgknyUlWPkPOw0oIVy6jaRF4\/h5y\/h6wF2A37ARfDGChR\/+nHvLBZjxPMCT0qO7NaYRDuYwImGzOQuQQQN8o8LcTJuzw4QyjBUH+EhzktCXmrJudfSXhzz54\/DjE0wIyc2cGoCDDW+FKm5bH+8yJg20P2NiCPVYXmXMdGt\/jpgkpSuUzLLnSXubBQe2Dcv7LE21Lr3fvYYax7dI0V4hI04HD6K\/P3y5tP\/t7rsgG0FGQD2YgrVV5rOs1cumTVCWeLD6J9+NgcGf\/mhUlWdr7Ij1pYDKmBZforSsrIKIM4PnCBzv5XRyPZA0imT+8DBlx2AmDrcEYs7O+VpyYl60TcRgOu5e5qibcgSZJ3y3kQ1ys\/6heOof8earReY7f1J1sgfnQYcUwSaf3sVaheLj\/UJTOuS2V4QBXHR477amIrStsBB37GIdeEgelQTAACHkkT5MIWFzEdVGrEC\/bCKNWRP+bOzkcwNMxG4GRPDMiMb7VureElYCZoBTHiNwhHYELlx0+HHTPx33F34SmSLWxqhHuGck+NWDM58IyvdMe0CK488vHyjwLV53FJYGd6cCz4HsGipVQifJMLJecI82fZAu7VbyTVbRURlYaGRSBUNHZsL0duQ94XIud64a5c4az+TkTAK6TDtWXKFtjsuxvbldxYwB\/IEauH0rKQEG80JT9L6apAVGNgiMRE0RcNFQMizQVP+p7A7IuDNVRtf+rn9CWPChBzKvQYo0WyMe+xZHgxy9jt1z+c7aUX8Dp6eyiDfnW\/d7WwOxDqUjnj4LtIgOSTDldRNboOLl7EuY63iRe6pAS+TnwGTNaDO1l9EnPWE1R4gy5i6NjIWoWyzuDrArEVNi3atpNR0tf639LXwE4RLxEknL3daMDfwPDPeYR5Tqct1G2b9\/5IucsOOVBhY69ZDKyHk98bojExx9FXMaik2T+u69foLAqgBwzKepKDYJdVXu09838kqxDwKeJ7dYTM\/9K\/xnL+\/3GhYNHCvDMtvtEVmy+kpM1Y0ETgMX9uHev52CPd5hoNcAJ6h84szhb2MvS7PZjKI2\/\/u60lcXzZ0UEjcoXg\/unYfG0\/sj935G16+CspgWdhfY0jZf07ozM+8io9K+INySv7b6q5BKOk0LH0GsF8SgT9YSo70=","iv":"46b933eb2d1ed393d5398a7c7f750ef6","s":"a16879e0253452a9"}
Share your thoughts. Click here