H&M and LVMH target very different sectors of the fashion industry. The former, a fast fashion giant based in Sweden, saw a slump in fourth quarter earnings, with its operating profits falling by 87 per cent year on year, and its net profit declining by about 68 per cent. Meanwhile, multinational, luxury goods chain LVMH saw significant growth in sales and earnings. The group – which includes subsidiaries Louis Vuitton, Dior, Tiffany & Co, Sephora and Tag Heuer – realised a 23
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