LVMH, the world's largest luxury group, has revealed plans for measured expansion this year as a result of the continued uncertain economic climate."[This year] has started off well...I'm confident enough. Still, I think it's necessary to be prudent," said LVMH Moet Hennessey Louis Vuitton chairman and chief executive officer Bernard Arnault at the company's annual shareholders' meeting.
Despite reporting an 11.3 per cent spike in its first quarter revenues earlier this week, Arnault spoke of plans for "targeted expansion", noting the importance of adopting a long-term approach to keep brands at the height of luxury.
He tells WWD: "We don't want to go too fast."
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