Analysts are impressed. In a recent research report, HSBC Global Research recommended a “Buy” rating, calling LVMH’s progress the “The Bling Supremacy.”
“Sector behemoth starts 2023 on a high note; rest of the year should be strong despite investor fears about US demand,” wrote HSBC analysts in the report.
LVMH in 2022 spent a record $10.1 billion on worldwide advertising and promotion, up 17%, according to Ad Age Datacenter’s analysis of its financial disclosures. LVMH’s advertising and promotion expenses include costs of producing advertising media, purchasing media space, manufacturing samples, publishing catalogs and, in general, the cost of all activities designed to promote its brands and products.
Ad Age Datacenter ranks LVMH as the world’s sixth-largest advertiser.
Contributing: Adrianne Pasquarelli, Bradley Johnson, Brian Bonilla and Judann Pollack
