LVMH's diverse offerings — from handbags to spirits to luxury hotel stays — and global footprint are enabling it to withstand a worsening economic outlook. It also shows that well-heeled customers aren't feeling a global surge in inflation that has caused lower-income shoppers to rein in spending at retailers such as Walmart Inc. LVMH's biggest brand, Louis Vuitton, has been able to maintain profitability "at an exceptional level," during the first half, the company said. Its executives have been actively restricting entry-priced products such as its classic monogram-coated canvas bags. Instead, the brand is promoting higher-priced leather handbags. "The top end of the portfolio has done better than the entry price, but it's on purpose because we intend to rebalance the two," LVMH Chief Financial Officer Jean-Jacques Guiony said about Vuitton's strategy during the analyst call. Geographically, LVMH was helped by a 48 percent revenue recovery in Europe, followed by solid rebounds in Japan and the US.