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LVMH sees profit disappear LVMH, the conglomerate that owns Bulgari, Dior, Louis Vuitton and several other luxury brands, has been hit hard by the Covid-19 pandemic, with net profit all but wiped out for the half year. Turnover was down 27 per cent to €18.4 billion ($30.35 billion), and all divisions suffered from the lockdowns across many countries. The watches and jewellery division took the worst hit and was down 38 per cent. Operational profit went down 68 per cent to €1.67 billion, and