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
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NyjsQOlCSL+WZwNkjwsgzz5MtR1ZNEyvu+lGy30oUhxb0tIluvQgdAZvZU3oKbJWmlFDHT9KJ1Xcnjvv4S8UL8VP4sYwVYnEn+1R13yMwf6TcaSp+qLoRx9XgldVXuQ\/NbJKh9oryohqR4m7CoooBfb9Rvq0KJ1ugqMZxTSU\/Irae9radg579hZqp6Y5HFtHUFzf2BrVUL4JWbAmH1iNE1ndSEbrBouYyRudp0tU3nMOyLmulpA7yX0bJ8a6jX9nh66C4OPe0B8ad\/fISn4rDmt2Fb3sy7u8KBU2HvxEeQBshLJ1NSDd9z9trvN\/6UU9T4QRRELD+hnwMN1MULDSROUTApQWbtifEgssmiOO9U\/kcnCmrIJtSiNgbrgYTMFyCcGrOmYtIn203szjhJ1ezBt9g2utqQivE+7Z6LMY+SmXqZcDWsuxT6UeAfUXaXgh9JJVYHqUW4qsCuWqvR92j41LbnJ+9rxHikdbDyG9etiOCbDxtYGSy3XtD\/UQ+T+2oLQUybubEmgAZPO\/9vVuUFq\/S4DH9z5YGJ0sUPm7PrTW5p8jSDRLoVCv6y67vXFjSO0WV1YPACeMjN78rQUHMv0ksI\/EZ1Loc7g\/pY4+D7Y2p2nDkuDfxGkFyKawFFs+iMXkugeKG6N6GOHqvPEeI35n3yQWXEuNrW88WnUGJIs4gjdp+J1+aBO3y39yngUOL7Kgo1qJ6rZNEo0JYsCMyVvBJxS8iWGWswglbbdUXVfGzl+WX6u2kX7ocz5D1QlIgH60CRgieydt8JhQudn8A1\/v4rlnlPLKZ13O3QKR7QQgd7Gyd1tPvJVfJ51fbyIOW9n1xHQCFXZrDoYbeXnwTSOpqwwOJxqDNIw9i\/3AsUIHIX5mstfRAaZuuz24cURkNI3knMUZpi6AYNa+AWIERKk990pxd70SRjhMK9uDTKvM6uPDpIvRSxfzodbx+L69o4w7w7KrzE0Zn3n4ToWz4vf4lHAh5ci\/bLKV+cSL8Z8cdQK930sXIBcS61uYeotvRNqmF7o5Po6L+YqyBn0VBNXIwZa3R15K+W9VPTNNsvYIY+flCIepmz47U+vMvn+C+objpg0EnTBruPyfjjKG33b6Ytvr6TDDhm6ruxF+8G2DouxF3VaDaRa69Pnx41AxxIW4bPd4dj23bZ1599dZ8jkUuLgxBXMHlbWLAp5BN7lvXbgbTUEldDAv\/C2jJzHgGIgt5st9n6FS52n1IdbMAbSjXsjkRb0N01qyG\/j2d+xTmmJ5pXcR43bpgzjTZFTXfBMXEPCVsK7QzENgw+Jw5ylH9xLqn4dIqymUyTCK1dfuuRF9T1TumYLckVsA\/cpUalsQlMd1NsPDURVx0a4jNfASxoc7ck32os1XpkHm4kcLKPgtx15PBjZNodWbwywrSQXA5l5ssuq7tyOAb90X1m+KPVhxS2fOr9yjB4pzLg7RJXazo6iRtgJjzXhYpqJBx1YPsJKmtrV\/0su2nrSfDNZizjaGl94bfX7BEpDcEuzM4xi+OumzAEOloWQlBo0PaZp0pGuA7T8Y5OHWbmkZNJfPpC49a59BR4Zo2L9MkLQqIGAeS2k\/otJ+Ia279M8cERA0aLIck1WKRf2yR6jzOGDe37JUkEcloXWnM\/hW66vTmkjI0Oh8pYjlQsL\/mxbvesoBBmgY2iMLqnI7lzgoeDpA7+MLnJeF3L26I8Sdyj5\/EhapDuHUMGmdWq4k6SbHrBzrR3i\/1eILER5fWDvE9m\/Khgk3dDJ3uh4N+OezbvzjeAIWFige0GNN0xJYA76ALVRTFAedVcD5zZsCL3Qw9cQ0FcDsXrUdoQlmnlbiQsZKomth2qGnDzOPPapq3v8IQpkq\/\/SOf94cYeQFX+X9Bfhm4vM4lv7q29BkPVdhqUYqIsSDIBe47L67z9V9isY+0DCSH1yuO8LV5VpkpJIfUOgS6QvzzmRBsI\/adU0\/y14XLoWBhLgQnf1dMFzL5hlK6qaEdlTcDYGOg0gMDKcROXwSbIAxxpyzAbKVkW4YqtIrwy725VqZorvj5VmfXwjx+0eEtlHlr64AHubjI+2YToE7wurcj89kH2r5eDPM1iRoA2QLiAv+acZFq4n6vGx36+jghnmNrZZK7LJkgba5ee+jh0VWNOM9hoypNPaNerEPEogaFt2Us0uNll6lKAux\/XuMdYyETiXuwSipixKreib+ziyeTD0snbrtfQsCOIGNY6aNGutQNz8nUgXdO\/3Ez8r51Qj7GjeM8rr\/qrDHis+uteh+XpGjdhcu5Ir3nN+Dac6hfj0FGGjKFQRyKRBqrQg6BEESC46vfbbe8GzaiURDUeZfaA9rGC1OaYrwk6nZ20YTy08o3couyXK41OGH3FqZJozZEvJAzDbmxV2zbnN3jTFAvSl2XWr397F5ph6LI1IxN6bQxdoXnjEJro2WvZ1CruGMap5iKY2BZz1XVwO6f9dPiq74dNhda41xNfyQ65z5S6PDKsDEH+2P2QJMi\/+rdBkKo\/4WZmmV0Z5dnBf4dUJlyj1hI90nZPmXkNqLsVmJZ5GJrm6xu68mAQdQ\/kEzD8HpbEM1VGkzSM+EPqaDiAecFkpujiH61s4IYDWbASfPbbX7BDcbsIdOaSTnnnHO93KgqksWv3KBVo7l5O2joC8cVZL402Dpx13ZQK9Bbt7hIHgjJWJcJYPfEOMI8uXtBVTsanGADLCiJS1h+o71YQIchHYs2P7HPuc2RLvI8fH6i3z2nOItmKbxyjQy1gkjKS\/nwHqw0AhOHNUcXOG9CCV+tgQYZYVJOum\/MsFFHA2At28OTE3a+vkZmmvnQMFAclHNsCGAwLP\/MXrksyS96sfZQm092Y7RRbFTHqw66loD6izz8zcfdO+bZaph16oG\/kFRT44i6n2NlpSXp5MEliecCucJ+Clib1Q\/T5fKbDGhJy1Rik66d4S9paPKJWetCAau3VMdCNUPVSIpFJNaXukHuJTGTG7\/wmKlEM18I\/c7xM8oQ8Rvw5R1UZWshTGYAMKZfjWxWU0r9hA1xnPKllyHYpCHXwubFkhds9iX8x8SrIQiGpet08lK5OhNvS6MY9W4MD1PfAy4Dnh6aM0\/SwOzi3gEdg\/UprT\/DR7WTCseum97hLFJq9EGxLEg6tXWLfsFFGvS68aRZlNw20omxoPfi8JezOkInjSFFnfMXcOAcK5d0NgfIqHn7+ojwW\/0aeUoFCMJkpNktKSRwo7kVU4mC+8FlDwI4h+wwJJw+y3oED34tm\/dG5eEOyBBvC7dbaJBVco0zR6rfz\/lbBJ9QNZefEUCEnzJjsXebvlH2dZXsVpfqEZFd7pt89yq\/gsApDg9LxvljrmyIpN1W9ckiKXYU1iGAswGaPkF39SuEKY5E7E9oteTqcd11Bxw8XJG24gcM4pycyOtH33s\/BkpfhXOZ\/iG3J1xnz5i9lMEDJdfiR4QZg5I3HgYqHwa+OIjgrbIfvshLCDHOuGKEWS2GuZ\/ndoieZFwwUby2QZkBFwk9N5AXZFsZ0WRgstwQtOxOOY8TyEkh6Gh1KSeCdig1ryoxuvpc5ZfdTAhVgs9s7UhdhZqWqJvtF8ZD9RlM0mNbQ+CkkP6JxYKHx573LNWvYE\/u9FKIXl6Ig4lmsLvIBlPjAe\/Cv6VUtjtEHdtiLmo54hyZDDT1AKoLbNgjn63Xc9XcO2sVsgL5VP+LUPup\/kgb\/R7rsn+geGtuYrija6PoNHo6tXuiyG5wuK5s0Ypp6L9WXgdBOnafMvFQLkiwHR5Rcv3v\/jYaKVpz+vKx1hYeCq6xeNM2nO7Bm1EwRVjXRzpTNAHlRjYGQaEFN6mRqZw\/OQnMV9lboQMKTj758dUHt1S2i7g2i24vKS6qWoVtQdaN83k6JYhVBCePauWizJ\/Y66UHBgWhQc4AK6hdR3i3uNy9WvwtIYVxTnwu0q2XHWFD\/ftqf8cYD5ao0t73L5vq+6nAi0WcKK1CnMQp+hxXQyIZzKkK\/WBBdPHMAhQDaoeiMKprIuKHqJw9q+ElqMIvHhQ6uRZbVKWhXUzfDjU\/cOaaOtL4m2bUXpWHnaUkQHb99xhkbYbnYJwVQkeKXmaH9DrXm4oxruzUoQHqBLn1sMaLmVDteQOB8+sXnupBtofA35CP2ImssiwlUSiJISlFggUc6Yl1HxmbmPpsqivqN74wOz9rJaBRHzHQQupiecchkxhpybDd4vTs7HBZtH76itkGhiali6YIobY2QZlAiZDW87yphuvgdvu79tRR5fFw9F8HWg7A0HqYaW8dWkwiDdbFwfeJlcB5lOuSjcvT6gBrXvj8sy8LDuXsow68+Q0RahW07KFbkDe5alurGotKjtN\/Yw=","iv":"349299d5081ed771bfe41cc471e808e8","s":"fb0c52cc9a58b7ee"}
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