Courtesy of Hermes
According to separate WWD reports, sales at both Bulgari -- in which LVMH recently acquired a majority stake -- and Hermès surged in the first quarter, riding mostly on watches, fragrances and other accessories, as well as silk scarves at Hermès. (Hermès' recently-revamped digs are pictured above.)
These numbers were posted, along with more than 10-percent gains at Tiffany and Coach, as the Savigny Luxury Index jumped on better-than-expected results at Burberry and bellweather LVMH, the Business of Fashion reports.
Snowballing sales for luxury goods comes after years of economic hardship that rendered many unable to afford the goods, and others to hold back in flaunting wealth in the face of a social shift. But now, says BoF, is that "the luxury consumer is back and is spending without shame again."
While the long-term repercussions of the natural disasters in Japan clearly remain a concern, it seems as yet unclear what, if any, effect the tragedy will have on the market long-term.