PARIS (Reuters) – French luxury group LVMH has enough wiggle room to raise prices and protect its margins in an inflationary environment, its billionaire boss Bernard Arnault said on Thursday, adding however that any price increase would have to be reasonable.
Speaking after the group reported strong results for 2021, Arnault said he expected demand for luxury goods to remain solid this year, noting however that the rise in inflationary pressures was seen by some observers as cause for concern.
“We have to remain reasonable,” he told analysts and reporters when asked about expected increase in prices for LVMH’s products this year.
Arnault added that the group was still in “mourning” after the sudden death of Louis Vuitton’s star designer Virgil Abloh last November, and did not want to talk about succession plans for the label for the time being.
(Reporting by Silvia Aloisi)