LVMH rings up record sales, operating profit jumps

Luxury leader LVMH defied global economic gloom last year to ring up record annual sales of 35.67 billion euros ($38.9 billion), while operating profit soared. The maker of Louis Vuitton handbags and Moet & Chandon champagne said Tuesday that its net profit for 2015 came in at 3.57 billion euros. Operating profit rose by 16 percent to 6.6 billion euros in the group whose stable of luxury brands also includes Givenchy and Kenzo.