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LVMH H1 2026: The Margin Held, Desire Did Not
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The desire is real and it is priced. The open question is which company is actually for sale, and on whose numbers.
Rafael Carlesso is a luxury strategist and analyst, speaker and writer, based in Milan. He reads where desire is built or lost, from image to price. The financial results only prove it. Quoted twice by Reuters on LVMH. CPP-Luxury published his article "What LVMH buys, and what it lets go" in October 2026. He gives the keynote From Heritage to Algorithm, on what makes luxury clients choose a brand again.