No surprise that LVMH and Kering toot their own horns in recently-released first-half 2021 financial results, every company with public investors does the same. But the luxury conglomerates have good reason to crow this go-round: their flagship brands are reaping major windfalls as life returns to semi-normalcy.

Let's be clear: the COVID-19 pandemic is far from over, as new varients and uneven vaccination patterns threaten a return to the "before times," as 2019 and all the years before it are now fondly known. But a year and a half in, society is largely acclimating. In New York, for instance, few people wear masks outside and it's extremely common to see unmasked folks on the subway or in stores.

There seems to be a real desire, among those privileged enough to weather the pandemic, to put the health crisis out of mind. LVMH and Kering, no strangers to extreme privilege, surely feel the same with their global activations and pop-ups. Can't sell aspirational clothing if everyone's thinking about staying home or, ya know, demanding societal restructuring.

And, to be fair, if you spent most of last year at home, travel is one of today's ultimate luxuries. If 2020 was the year of sweatpants, 2021 is the year of experiential flexes, with new outfits and accessories for those escapades.

LVMH, which announced its financials for the year's first half on July 26, saw big numbers at stalwarts like Louis Vuittonthat Virgil investment makes even more sense now — and upstarts like CELINE, contributing to fashion sector profits that were nearly three-times greater than that seen in the first half of 2019. Combined revenues were up 11% over 2019's figures.

Yes, LVMH is raking in the dough even harder than it did before COVID. Curiously, its ebullient press release didn't mention Givenchy at all, though it was newly reborn under the purview of Matthew M. Williams.

On Kering's end, Gucci, Saint Laurent, and Bottega Veneta drove revenue — Kering didn't specify profit — over 8% greater than the returns from 2019. Gucci is still dominating, itself garnering 11% more revenue than it did two years ago.

Even rival Prada Group is enjoying an intake of moolah, reporting pre-tax revenues 8% higher than what it earned in the first half of 2019.

There you have it: not only are luxury labels still generating enough wealth to fill Scrooge McDuck's giant cash vault, they're making more than they did even before the pandemic. This speaks to societal spending habits, underscoring the widespread exhaustion wrought by quarantines, masks, and self-isolation. Tired of sweatpants, people want flashy clothing, bags, and sneakers and they want to wear them outside (or maybe they just want very fancy sweatpants).

Grimly, this also spells out the likelihood of limited post-pandemic industry upheaval. Don't expect the slowing of the relentless seasonal deliveries or discount cycles anytime soon, despite the many warning signs.

"The contentious issue is the conglomerates don’t want to change," Lane Crawford and Joyce president Andrew Keith told Highsnobiety last year. And with cash flow like this, why would they?

We Recommend
  • Are Portable Speakers the New Luxury Bags?
    • Style
  • Studio Nicholson's ASICS Sneaker Is Leather-Lined Luxury (EXCLUSIVE)
    • Sneakers
  • Luxury Brands Every Highsnobiety Reader Should Know & Where To Buy Them
    • Style
  • This Year's LVMH Prize Is a Largely European Affair
    • Style
  • A Luxury Keychain Is a Smart Way to Flaunt Your Favorite Label
    • Style
What To Read Next
  • Deadass? Louis Vuitton's $3,000 Timberland Boots Are Here
    • Sneakers
  • Song for the Mute's New adidas Sneaker is a Brown Techy Wonder
    • Sneakers
  • Nike's Air Jordan 4 "Skate Shoe" Looks Crispy AF in Monochrome
    • Sneakers
  • BLACKPINK Dominated Music: Streetwear Is Next
    • Style
  • Someone Give Hailey Bieber's Marketing Team a Raise
    • Beauty
  • Marc Jacobs & Stephen Sprouse Still Go Hard
    • Style
*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to info@highsnobiety.com

Web Accessibility Statement

Titel Media GmbH (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, www.highsnobiety.com. Titel Media GmbH strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titel Media GmbH tests, remediates and maintains the Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.


Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at accessibility@highsnobiety.com, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.