By Will Novosedlik

Back in 2008, the world was hit with the worst financial crisis it had seen since 1929. But, instead of folding, the French holding corporation specializing in luxury goods, LVMH, spent most of the period preparing for what came after. It cut back on marketing budgets at a time when demand was low and saved cash reserves for bigger inventory buys when demand returned.

http://strategyonline.ca/2022/09/27/luxury-retailers-approach-uncertainty-with-a-level-head/