Corona Capital: LVMH, Cinema, Malaysia Airlines | Reuters


Luxury mega-brands like LVMH and Kering, owned by two of France’s richest men, are bracing for a whopping Covid-19 hit. With stores closed across the United States and Europe, Goldman Sachs expects sector sales to contract 30% in 2020. That’s three times as bad as in 2009.

But it still doesn’t give the duo an excuse to rein in costs by tapping state-backed job support schemes in countries like France, as a report by the Financial Times suggested they were tempted to do.

Source: Breakingviews – Corona Capital: LVMH, Cinema, Malaysia Airlines – Reuters

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