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LVMH Moët Hennessy Louis Vuitton, the parent company behind Dior, Marc Jacobs, Fendi and a slew of other fashion brands and accessories labels, reported an unbelievable 52.8% surge in profits during the first half of 2010. With a 20% sales increase of wines and spirits and a 30% rise in watches and jewelry, we're starting to get what's going on here—more booze, more confusion about what time it is, more buying of shining things.
Sure, the two likely aren't related in statistically significant way, but when profits are up so high, one can't help but wish one could sip the company's vintage Cheval Blanc —the high demand $775 wine that "sold out in 10 minutes"—and purchase 52.8% more luxury goods, too.—Carlye Wisel
· LVMH Reports 52.8% Surge in Profits [WWD, subscription req'd]