LVMH, the biggest conglomerate in luxury, has continued to outperform its peers. How? It is mostly down to the spirit of conquest. Photo: Dior How LVMH dominated luxury and where the “Bling Supremacy” goes next
Posted Bya Luxury Daily columnistOn In Featured,Industry sectors,Retail | No Comments
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":"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","iv":"2385762757e77b9fbc4dde520dabbe02","s":"e0c08a73d38f3a77"}