lvmh managed to do that.bout the main drivers. >> people are spending their savings on luxury. hankering for luxury after this pandemic especially true in the u.s., china and also in the middle east where travel is starting again. lvmh up 84% in the second quarter. the fashion unit has revenues up 120% including louis vuitton. one put it this way saying it was the strongest first half ever for lvmh. it is interesting because lvmh has been seen as a bellwether for the luxury industry. they don't only have fashion but also watches and jewelry. they made a big acquisition of tiffany's for $16 billion. it had strong moment numb the u.s. and china. in the second quarter. people it seems have been indulging with more champagne or dom perinon. they have an easy -- and second, travel retail is still impacted, especially in europe. manus: i have this vision. shall i paint a vision for you? it is rishaad with a bottle and his louis vuitton man bag. wealthy louis vuitton-buying customer. did you buy any luxury goods? ri

that is the case of lvmh. it is outperforming its peers.stion is is with more competition coming into the market, can it continue that outperformance as valuations look very high at this point. alix: good news price did. for more on the luxury retail performance, swetha ramachandran joins us now. montclair had sales up 57%. these numbers are insanely good. how much more upside? the numbers are so good, are we at peak? swetha: there is definitely a narrative making the rounds on whether we are at peak growth. the top line has shown we have accelerated the dose to your stack. considering last year was an exceptional year, the year on your numbers were bound to look pretty blowout. what is remarkable is the stronger companies in the sector have staged a remarkable increase in momentum from the first calendar quarter of the year to the second, even as economies reopen in the second quarter, consumers had more competition for their wallet in terms of experience returning, people going out and traveling more. the brands have staged the sequential

lvmh beating analyst expectations.red at the world's biggest luxury marker ond brands like louis vuitton and christian dior. joining us from paris, our guest. a lot chinese profits fiend their way into french luxury projects. give us some of the top line. >> back in paris quite yet. strong domestic demand in china is driving it along with the u.s. and also places like middle east where tourism has started again. the fashion and leather goosed have revenues of 120%. even though they benefit from an easy base -- of course one year ago most of these stores were closed due to the pandemic. if you look at the jewelry sector, lvmh of course acquired tiffany's for $16 billion early they are year. tiffany's performed pretty well in the u.s. and in china. they are also going launch new gold jewelry collection soon and finally of course people have indulged with champagne during the pandemic. even when they were home they were buying dom perinon to survive covid-19. mark: it is important that we have that champagne to survive. i

heavyweights like lvmh coming back strongly. airbus coming back strongly.t market sharply higher. the bond market, yields backing up, that certainly helps. taylor: certainly helping within the u.s. we are at session highs as well. we will go to the g20 finance ministers conference in venice. we have an exclusive interview with mexico's finance interview -- finance minister next. this is bloomberg. ♪ ritika: this is "the european close" coming up, the visa cfo joints at 5:00 new york, 10:00 p.m. in london. this is bloomberg. it is time to the bloomberg business flash. bloomberg has learned chinese aviation officials are open to conducting test flights on boeing 737 max. that would be a step towards lifting the plane's grounding after more than two years. even if a test flight is main suit it could be months before the 737 max man is removed. -- band is removed -- ban is removed. earlier this week, mercedes parent daimler warned sales would be further curtailed by the global chip shortage. a number of people on twitter are threatening to boycott china because

a stellar quarter for lvmh different for the worst performing stock this morning at reckitt. narrowly missed sales targets for the quarter after shifting demand for products. a cautionary tale for investors. by and large, the earnings season has been strong that is the picture in europe. frank, back to you >> julianna, thanks for that louis vuitton? is thatpronunciation? >> i'm working on my french pronunciation. i have a way to go. >> turning our attention to the other top stories. the price of bitcoin and cryptocurrency falling sharply after amazon denied the report it is looking into accepting bitcoin as a payment by the end of the year. bitcoin topped $40,000 yesterday for the first time since june. blackrock's larry fink and steve schwartzman are among a number of ceos writing a letter to congressional leaders urging them to push forward to pass the infrastructure bill. that letter signed by 140 executives as talks suffered a setback p yesterday. republicans rejected the offer meant to address all outstanding issues from the white house and democrats. calling into questi

if someone wants to buy the usual names, lvmh, gucci, is there any value there or are they priced toction? dana: i think there is still more value. i do not think you can look at history before 2019. i think we have to go forward. i think the engagement of consumers, the chinese are staying in china, when core is him -- when tourism comes back it will accelerate the rest of the world. look how chanel raise their prices. tom: thanks for bringing up a sore point. joe feldman crushes it on amazon. link your world to joe feldman's world. his amazon out front in fashion or is jeff bezos going down in flames? dana: i think amazon can be, for essentials, and your searing other types of companies be -- and you are seeing other types of companies be singular in nature. category killers will be able to resonate against amazon. you are seeing vintage in all different categories very relevant. tom: thanks a much. dana telsey, thank you so much. i am sorry. i think chanel and a fashion manifesto, i can see you manifesting should now this fall -- manifesting chanel this fall. lisa: we have discuss

talk about earnings on lvmh. i think blowout is an understatement when it comes to the numbers.st half profit record, record first-half performance. that profit coming in at 7.60 3 billion euros, beating estimates. their organic revenue was unbelievable. retail revenue rose 31%, leather goods and organic revenue rose 40%. this is organic. the luxuries based in france has been firing on all cylinders during the pandemic and even coming out of it. dani: it really has. it seems like everybody in this world except me is buying new bags and new bracelets. yes those earnings look incredible across the entirety of the luxuries based. alix: i am not but i will go on guild and look for them. big numbers. this is bloomberg. ♪ alix: busy week coming up. just talking about tesla coming out after the bell and then president biden will be meeting with the iraqi prime minister at the white house. dani: if that is not enough to potentially rattle markets on wednesday, we also have an fomc rate decision and we hear from chairman powell as well. thursday the earnings continue. amazon and credit s

heavyweights like lvmh under pressure.ar sales are higher but have fallen short of where they have been in the past. also chip shortages is getting consumers and issue when it comes to the new cars. we will break all of that down and speak to the ceo of pendragon, a used colored dealership -- a used car dealership in the u.k.. this is bloomberg. ♪ ritika: i am live in the principal room. coming up, the infirm ceo and founder at 5:00 in new york, 2:00 in san francisco. this is bloomberg. let's check in on the bloomberg first word news. the biden administration warned u.s. companies about the risks of doing business in hong kong. an advisory said china's push to exert more control over the financial hub threatens the rule of law and endangers employees. today's news underscores how quickly beijing promise of one country, two systems in dealing with hong kong has come to an end. in germany or than 100 people have died in the worst flooding in decades. there at least 15 deaths in belgium and other parts of western europe have

. >>> turning to a breakthrough in the influential but cloistered fashion business, lvmh did a big play making major waves beyond fashion. as "the new york times" puts it today, it makes abloh, quote, the most powerful black executive at the most powerful luxury goods group in the world. it also continues his disruption of an influential field that has often lacked diversity. abloh also created a scholarship fund during last summer's blm protests and is on track to be a name you will hear a lot more about probably in and beyond fashion. now that does it for me on "the beat." i have to tell you there is a very special edition of "the reidout" with joy reid up next. we were talking about msnbc's anniversary. it's also happy anniversary and first-year birthday to your show. >> yes. >> congratulations, joy. >> we're officially a toddler. we're a year old. we're bouncing and misbehaving like every toddler everywhere, we're constantly hungry and thirsty and bored. >> i'll tell you my one thought on that, which i'm thankful for and i happen to know a lot of viewers are. we're thankful that you

>> it's never to late to get in remember lvmh is my top pick going into the pandemic and my top picks management, you can still get in charles: by the way, we're running out of time but jan, i'll give your ideas you shared with us on the cowboy theme. levi boot which is up from 18 to $85 andktb, for those listen ing on radio. two of the best because i appreciate it every time both of you come on i make money, have a great weekend. also, folks, the summer is starting to seal like the summer doldrums are setting in there's always a way to make money. ron luna is coming up we'll discuss the retail revolution and take a look at next week's job report. wall street has high hopes, might be too high. we'll be right back. >> ♪ hooh. that spin class was brutal. well you can try using the buick's massaging seat. oohh yeah, that's nice. can i use apple carplay to put some music on? sure, it's wireless. pick something we all like. ok. hold on. what's your buick's wi-fi password? “buickenvision2021.” oh, you should pick something stronger. that's really predictable. that's a really tight spot. do

. >> lvmh. >> we have new board members -- we have new board members that have joined, as well which. eric foss, the ceo of two fortune 200 beverage companies in pepsi bottling and kawhi leonard. so we've really done our part, i feel, to build a business that makes athletes at saquon's level eager to join us to try to take it to the next level. >> so what is the next level quickly, mark? is it getting bought like a pepsico or coca-cola is it going public how do you expand the reach here and gain scale >> yeah. thank you for asking so where we are right now is we are just laser focused on building this brand. we have a brand that up until today strength and conditioning coaches and pro locker rooms knew firsthand, but no one else did, so with saquon and qkawhi and amazing distribution partners like subway, cvs, gnc and something saquon and i are working on is introducing a whole new batch of products in the ready to drink space and you will start to see x2 in grocery and the convenience channel starting in the fall in co conjunction with the nfl season. >> how is your knee. you mentio