LVMH

LVMH just reported that net profits for the first half of the year fell 23 percent.

This is largely owing to the fine Champagne, watches, and jewelry the company sells — or, more accurately, failed to sell from January through June.

The one company under the LVMH umbrella that continues to pull more than its weight is Louis Vuitton. The label posted a 7 percent profit in same-store sales on fashion and leather goods.

Not surprising given some of the powerful people in its corner: Marc Jacobs, Kanye West, Buzz Aldrin, Madonna, and Stephen Sprouse, to name a few.