The Rich Are Spending on Luxury Goods Like It’s 1999

(Bloomberg Businessweek) — On Oct. 11, the same day the IMF warned of darker economic clouds on the horizon, the world’s biggest luxury company posted surprisingly strong sales, suggesting that wealthy shoppers’ appetite for high-end goods was nowhere near sated. LVMH Moet Hennessy Louis Vuitton SE managed to beat analyst estimates at four of its five main divisions. The biggest and most profitable one, which includes houses li…