LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

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slayer74
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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 25 lis 2022 14:23

Louis Vuitton picks Shanghai for first furniture and homewares store

SHANGHAI (Reuters) - Louis Vuitton on Friday announced plans to open a dedicated furniture and homewares store in Shanghai, a world first for the French luxury brand as it aims to expand further into lifestyle offerings to affluent Chinese clients.

The appointment-only showroom, which will open on Monday, is located in a century-old three-storey mansion situated just behind Nanjing Road, the city's premier upscale shopping strip.

Louis Vuitton, part of LVMH, said in a statement the showroom will be trialled for several months as a pop-up and if successful will then become a permanent feature.

While no price tags were on show at the store during a media preview, a Louis Vuitton employee said a brightly hued hanging cocoon chair designed by the Campana brothers is priced at more than 700,000 yuan ($97,860) and a small lamp resembling a glass milk bottle encased in leather straps cost 10,500 yuan.

A smaller side building is dedicated to showing designs by Frank Chou, the first mainland Chinese designer tapped by Louis Vuitton to collaborate on the Objet Nomades collection, as the furniture and homewares ranges is known.

Finding new avenues for growth, particularly among wealthy consumers, is becoming increasingly important for luxury brands in China as luxury spending is pressured by COVID-19 curbs, a property market decline, and widespread economic uncertainty.

Louis Vuitton dipped its toes into a more lifestyle-oriented offering in China last month when it opened a store in the southwestern city of Chengdu that included an exhibition space and restaurant.

"LMVH is striving to ... reposition itself as a contemporary luxury brand by tapping new avenues that resonate with dynamic Chinese Millennials and Gen Z consumers," said GlobalData consumer analyst Bobby Verghese, whose firm reckons sales in China's home sector will grow to $782 billion by 2026.

Verghese sees homewares as a good bet for Louis Vuitton, especially in China.

"Unlike their predecessors who prioritized privacy, the Gen Y digital immigrants and Gen Z digital natives are not averse to flaunting their lifestyles on social media," Verghese said. "LMVH aims to gain an early-bird advantage in this emerging space."
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

REKLAMA


slayer74
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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 02 gru 2022 00:02

(Reuters) - LVMH's Moët Hennessy and Italy's Campari have taken full ownership of online wines and spirits company Tannico via their joint venture and plan to expand it further, the two companies said in a statement on Thursday.

Italian drinks group Campari clinched an initial deal in 2020 to buy 49% of Tannico to give a push to its e-commerce business amid the COVID-19 outbreak.

Campari and Moet Hennessy then created a joint venture in July last year to invest in wines and spirits e-commerce companies.

"With this operation, we confirm our commitment to making Tannico the leading European platform in the sale of wines and premium spirits," said Bob Kunze-Concewitz, CEO of Campari.

Thierry Bertrand-Souleau will become CEO of Tannico from January, the companies added. He is currently a general manager for French beautycare group Sephora.

Marco Magnocavallo, the founder and current CEO of Tannico, will become honorary president.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 10 gru 2022 23:29

To on na chwilę zdetronizował Elona Muska. "Dzień zaczyna o 6:30 w XVII-wiecznej rezydencji"

Bernard Arnault należy do najbogatszych ludzi na świecie. Niewiele (podobno "zaledwie" 5 mld dol.) dzieli go od zajmującego pierwsze miejsce na liście "Forbesa" Elona Muska. W środę na kilka godzin wyprzedził nawet twórcę Tesli i Starlinka
Francuski biznesmen zbudował swoje imperium, skupując sukcesywnie najbardziej luksusowe marki w sektorze mody, biżuterii, perfum i markowych alkoholi. Dziś kontroluje prawie 80 topowych brandów
Oprócz smykałki do biznesu na sukces Arnaulta miała też wpływ pewna bezwzględność w dążeniu do celu. Nie zawahał się zwolnić kilku tysięcy ludzi po przejęciu konglomeratu Boussac Saint-Frères, który był kamieniem milowym w budowie koncernu LVMH

Na liście najbogatszych ludzi na świecie według "Forbesa" wyprzedził Elona Muska tylko na chwilę i wyłącznie ze względu na środowy spadek akcji Tesli na nowojorskiej giełdzie. Jednak ta wiadomość rozeszła się w mediach lotem błyskawicy. To nie był zresztą pierwszy raz, kiedy francuski biznesmen Bernard Arnault trafił na szczyt zestawienia jedynie tymczasowo. W grudniu 2019 r. i styczniu 2020 r. wyprzedził na krótko Jeffa Bezosa. Na pierwsze miejsce rankingu wskoczył też na kilka godzin w maju 2022 r. Od zadomowienia się tam na stałe dzieli go jednak niewiele.

https://businessinsider.com.pl/wiadomos ... mo/wkctlw5
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

slayer74
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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 11 gru 2022 11:09

LVMH chairman's son Antoine Arnault to head family holding Christian Dior SE

PARIS (Reuters) -Antoine Arnault, LVMH chairman Bernard Arnault's eldest son, was on Friday named chief executive of family holding company Christian Dior SE, replacing veteran executive Sidney Toledano and stirring speculations of succession at the group.

Christian Dior is a listed company that owns the bulk of the Arnault family's stake in LVMH , the world's largest luxury group.

The move raises the stature of 45-year-old Antoine, one of Arnault's five children, all of whom hold senior positions in LVMH, the group behind fashion houses Louis Vuitton and Christian Dior, as well as labels ranging from champagne to five-star hotels.

His appointment follows a change in the legal structure of the family's investment to ensure its control of LVMH, with holding company Agache, which owns shares in Christian Dior SE, becoming a joint-stock partnership on Tuesday.

The tightening of the family's grip on its empire also comes amid a wave of high-profile successions in other fashion companies in Europe.

Earlier this week, Italian fashion group Prada (OTC:PRDSY) named former Luxottica chief Andrea Guerra as CEO as part of a strategy to ease a transition at the helm to the next generation of the founding family.

At Zara-owner Inditex (BME:ITX), Marta Ortega, the youngest daughter of its founder Amancio Ortega, became chairperson in July.

At LVMH, Antoine Arnault, a business school graduate and a board member since 2006, oversees the group's communications and environmental issues, driving efforts to shore up its reputation.

He is married to Russian supermodel Natalia Vodianova and often makes presentations on the group's environmental efforts and hosts events such as public tours of workshops and factories.

For the past decade, he has been chief executive of high-end label Berluti, known for buffed leather shoes priced at more than $2,000, and bespoke tailoring for men. He is also the chairman of Italian label Loro Piana.

LVMH chairman and CEO Bernard Arnault, 73, has not publicly named his successor to lead the sprawling luxury empire he built through acquisitions starting with Christian Dior.

The fashion label was folded into the LVMH group in 2017, and Christian Dior SE now holds 41% of LVMH, corresponding to 56% of the voting rights in the group.

Bernard Arnault, who often speaks at company events and last week attended a dinner at the White House with French President Emmanuel Macron, has shown no signs he plans to step down soon.

LVMH in April raised the maximum age of its chief executive officer to 80 from 75.

Antoine and his older sister Delphine, 47, are children from their father's first marriage. Both are on the group's board of directors.

Alexandre Arnault, 30, is an executive at Tiffany & Co (NYSE:TIF). while Frederic Arnault, 27, is chief executive of TAG Heuer. The youngest, Jean Arnault, 24, heads marketing and product development for Louis Vuitton's watches division.

Bernard Arnault and his family briefly took the title as the world's richest earlier this week but were back at No. 2, behind Elon Musk, with a personal wealth of $185.3 billion, according to Forbes.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

slayer74
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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 11 sty 2023 10:32

LVMH Moet Hennessy Louis Vuitton (EPA:LVMH) stock rose 1% after the fashion giant announced that Pietro Beccari will become the new chairman and chief executive officer of its Louis Vuitton brand as part of a broad reshuffle of the group's leadership.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 11 sty 2023 10:39

Investing.com -- Fashion giant LVMH Moët Hennessy Louis Vuitton SE (EPA:LVMH) has announced that Pietro Beccari will become the new chairman and chief executive officer of its Louis Vuitton brand as part of a broad reshuffle of the group's leadership.

According to a statement from the company, Beccari will replace Michael Burke, who will take up new responsibilities, including reporting directly to LVMH chairman Bernard Arnault.

The head of Christian Dior Couture since 2018, Beccari was credited with finding designers that have helped reinvigorate the Dior name. He will be succeeded at Dior by former Louis Vuitton executive vice president Delphine Arnault, the daughter of the LVMH chief.

The shake-up will also see Charles Delapalme become managing director of Dior. Meanwhile, LVMH's watches and jewelry division head Stéphane Bianchi will now oversee the Tiffany and Repossi brands, which will join the unit.

Shares in LVMH were higher in early trading on Wednesday.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 17 sty 2023 19:54

Najbogatszy człowiek świata ma powód do radości. Jego spółka pobiła rekord

Bernard Arnault ma kolejny powód do zadowolenia. Kierowane przez niego imperium dóbr luksusowych właśnie pobiło nowy rekord. Spółka jeszcze nigdy nie była tak wysoko wyceniana.

Koncern LVMH (skrót od marek Louis Vuitton, Moët i Hennesy) kierowany przez najbogatszego człowieka świata Bernarda Arnaulta przebił właśnie kolejną psychologiczną granicę. Na początku miesiąca w firmie doszło do zmian na kluczowych stanowiskach.

LVMH z rekordową kapitalizacją
Jak wynika z danych Refinitiv, cena akcji LVMH podskoczyła dziś o 0,4 proc., co wystarczyło do przekroczenia psychologicznej granicy kapitalizacji, która sięgnęła 400 miliardów dolarów.

Eksperci zaznaczają, że koncern zyskuje na ponownym otwarciu drugiego największego rynku dóbr luksusowych, czyli chińskiej gospodarki. Państwo Środka postanowiło całkowicie zrezygnować ze swojej opresyjnej polityki walki z pandemią, która paraliżowała większość rynków.

Jednocześnie zdaniem wielu ekspertów, wzrost wartości spółki Bernarda Arnaulta może się niedługo zatrzymać ze względu na inne czynniki, takie jak m.in. słabnący dolar.

Zmiany prezesów w kluczowych markach
Koncern należący do Francuza ogłosił 11 stycznia zmiany w kierownictwie swoich kluczowych marek. Nowych prezesów wybrano w spółce Christian Dior oraz Louis Vuitton.

Na czele Diora od teraz stoi Delphine Arnault, czyli 47-letnia córka miliardera zarządzającego LVMH (skrót od marek Louis Vuitton, Moët i Hennesy). Przez ostatnie dziesięć lat pracowała w innej z prestiżowych marek koncernu – Louis Vuitton, gdzie doradzała ustępującemu prezesowi Michaelowi Burke, jednemu z najbardziej zaufanych ludzi Arnaulta.

65-letni Burke kończy jednak zarządzanie firmą, co spowodowało duże przetasowania wewnątrz grupy. Jego miejsce zajmie dotychczasowy prezes Diora – Pietro Beccari, który zarządzał firmą od 2018 roku. W zwolnionym w ten sposób fotelu zasiądzie córka Bernarda Arnaulta.

https://www.msn.com/pl-pl/finanse/najpo ... 68f08c9477
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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 24 sty 2023 10:17

PARIS (Reuters) -The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as Beijing relaxes COVID curbs after three long years.

Quarterly results from LVMH and Europe's other luxury goods companies will offer glimpses of the toll of last year's COVID-related disruptions in China, even as the companies roll out pricey new collections tied to the Year of the Rabbit.

They are expected to see a deceleration in sales growth over the quarter as the post-pandemic splurge on designer fashions begins to ease in the United States and Europe.

Consensus estimates cited by UBS are for fourth quarter sales growth of 7% at LVMH, which releases full-year results on Thursday, and for a sales decline of 2% at Kering (EPA:PRTP), which reports results on Feb. 15. Hermes, which reports fourth-quarter results on Feb. 17, is expected to show sales growth of 17%, a decline from 24% in the third quarter.

The industry's showing in China will highlight the hit from lockdowns and its subsequent exit from a zero-COVID policy, which has spurred a surge of infections in the world's second-largest economy. Luxury spending by Chinese nationals had dipped from 33% of the global personal luxury goods market in 2019 to as little as 17% last year, according to estimates from consultancy Bain.

"We do believe they will come back to the luxury sector in a heavy way, to catch up on what they couldn’t do in 2022," said Caroline Reyl, head of Premium Brands at Pictet Asset Management, referring to Chinese consumers.

End-of-year trading updates last week from Britain's Burberry and Cartier-owner Richemont gave investors a peek at the knock.

Richemont missed market estimates after sales in China plunged by a quarter. Customer traffic at its stores dwindled and staff at times were not available. Many stores reduced hours or closed temporarily. Burberry's like-for-like sales growth slowed sharply to 1% in the quarter to end-December after a 23% fall in mainland China.

But Burberry said it was optimistic consumers in China would start spending again and Richemont saw a rebound there before the holiday, adding to rising expectations for the months ahead.

China is forecast to become the luxury industry's biggest market by 2025. The luxury sector is among the largest expected winners from China’s loosening of restrictions that kept shoppers out of stores for months, with shares at LVMH, Europe's most valuable listed company worth about 400 billion euros ($433.1 billion) and Hermes recently hitting all-time highs.

At Paris fashion shows, which run through the end of this week, Chinese buyers, a staple at such events before the pandemic hit, still haven't returned in droves.

Although the Chinese are expected to initially resume travelling within Asia, Europe is a region that particularly stands to benefit from a return of Chinese tourists. Reyl told Reuters she believes Chinese shoppers may begin to return to Europe in a noticeable way at the end of the second quarter or during the second half of this year.

In the United States, some Americans are cutting back discretionary spending due to decades-high inflation. Credit card data from Citigroup (NYSE:C) showed that luxury spending in the United States in December was down 10% year-on-year and, compared to 2019, turned negative, down 2%, largely due to weaker business in department stores and online platforms.

However, travelling Americans likely continued boosting the fortunes of luxury labels in Europe, with U.S. nationals leading a recovery in tax-free shopping in Europe, according to December data from Global Blue.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 03 mar 2023 14:07

China's reopening has also been key for luxury stocks, including luxury giants LVMH and Kering (EPA:PRTP), which have driven much of the year's gains for European markets along with banks and miners.

"European consumer stocks are set to benefit from a recovery in European and Chinese spending," Mark Haefele, chief investment officer at UBS Global Wealth Management wrote in a client note.

"With wage growth starting to pick up, inflation past the peak, and less hawkish central banks, we expect disposable income to rise and consumer sentiment to rebound."

A survey showed the recovery in euro zone business activity gathered pace last month, the latest piece of evidence suggesting the economy will avoid a recession.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 06 mar 2023 21:52

PARIS (Reuters) - LVMH, the world's largest luxury company, on Monday named Stephane Rinderknech as chairman and CEO of its beauty division, rounding out a series of broader management changes at the owner of Guerlain and Parfums Christian Dior.

A former L'Oreal executive with extensive experience in the U.S. and Asia, Rinderknech joined LVMH in 2022 and has been heading the group's hotels business, which he will continue to also manage.

"Stéphane has since his arrival guided the rebound of our hotel activities with considerable strategic agility, driving tremendous momentum across the entire organization," Group Chairman and CEO Bernard Arnault in a statement Monday.

Rinderknech will take up global responsibility for the group's beauty business, while Guerlain head Veronique Courtois becomes president and CEO of Parfums Christian Dior. Make Up For Ever head Gabrielle Saint-Genis Rodriguez will be president and CEO of Guerlain.

The changes come as luxury groups, which have been riding a strong wave of post-pandemic demand for designer labels, look to expand in their beauty activities.

Estee Lauder (NYSE:EL) Cos Inc late last year agreed to buy U.S. fashion label Tom Ford for $2.8 billion, its biggest deal.

French luxury goods group Kering (EPA:PRTP) said last month it was entering the cosmetics business, with the announcement that it recruited seasoned Estee Lauder executive Raffaella Cornaggia to head the push into the segment.

Arnault said Rinderknech's appointment completes the reorganisation of the group according to categories of activity.

As part of that process, the group in January folded Tiffany into the watches and jewellery division, under the management of Stephane Bianchi.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 01 kwie 2023 15:08

Shares in LVMH Moet Hennessy Louis Vuitton SE (EPA:LVMH) rose to all time highs; :P 8) gaining 2.10% or 17.40 to 844.40.
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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 08 kwie 2023 20:23

Obrazek

Pierwszy tak bogaty człowiek spoza USA w historii
Wartość fortuny będącego najzamożniejszym człowiekiem na świecie Bernarda Arnaulta osiągnęła 200 mld dol., co czyni go pierwszym Europejczykiem, któremu się to udało.

Elon Musk i Jeff Bezos to jedyne osoby, których wartość majątku przekroczyła 200 mld dol. Tak przynajmniej było do wtorku, kiedy – jako pierwszemu człowiekowi spoza USA – udało się to także Bernardowi Arnaultowi. Majątek francuskiego biznesmena z branży dóbr luksusowych sięgnął rekordowych 201,1 mld dol., co umocniło go na pozycji lidera rankingu miliarderów obliczanego przez agencję Bloomberg.

Majątek Bernarda Arnaulta powiększył się w 2023 r. o 39 mld dol.
74-letni Arnault, prezes koncernu LVMH, po raz pierwszy po tytuł najzamożniejszego człowieka sięgnął w grudniu, kiedy wyprzedził szefa Tesli Elona Muska. Od początku roku jego majątek powiększył się o 39 mld dol., do czego przyczyniło się wyjście notowań koncernu na nowy rekord.

Akcje LVMH zachowują się lepiej od papierów spółek z branży technologicznej, z której wywodzi się większość czołówki miliarderów. Dzięki odporności popytu na dobra luksusowe w czasie spowolnienia ich branża jest znana z niewielkiej podatności na rynkowe zawirowania.

Kurs LVMH, którego ubiegłoroczna sprzedaż była najwyższa w historii, wsparło ogłoszenie wykupu akcji własnych na kwotę 1,5 mld euro. Inwestorzy oczekują, że w wymagającym otoczeniu rynkowym koncern będzie miał dobre okazje do przejmowania mniejszych rywali. Jak przypomina Bloomberg, dzięki jednej z dotychczasowych prób przejęć Arnault dorobił się określenia „wilk w kaszmirze”.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 12 kwie 2023 12:03

Investors are awaiting :roll: first-quarter earnings from French luxury goods group LVMH after markets close to see how demand from China has fared after Covid-19 restrictions were lifted in that country late last year.
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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 12 kwie 2023 23:46

LVMH revenue up 17% :shock: 8)

Revenue at luxury fashion and alcohol conglomerate Moët Hennessy Louis Vuitton (LVMH) jumped by 17% to €21.04 billion in the first quarter of 2023 as the end of Covid-19 restrictions in Asia led to a rebound in demand.

Long lockdowns had led to a decline in revenue from wealthy Asian customers, but the company said it saw a “significant rebound” in Asia in Q1. Revenue in Japan jumped by 34%, while in the rest of Asia it was up by 14%.

Fashion continued to bring in the majority of the Paris-based giant’s revenue, at €10.73 billion, thanks to the success of brands including Louis Vuitton, Marc Jacobs and Loro Piana.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!

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Re: LVMH Louis Vuitton Moët Hennessy PARYŻ Euronext: MC artykuły luksusowe m.in. odzież, perfumy, zegarki

Postautor: slayer74 » 24 kwie 2023 13:16

(Bloomberg) -- LVMH’s market value surpassed $500 billion, becoming the first European company to reach that milestone, thanks to booming sales of luxury goods in China and a strengthening euro.

The achievement comes less than two weeks after LVMH (EPA:LVMH) joined the ranks of the world’s 10 biggest companies, powered by a surge in first-quarter sales. Rival Hermes International (OTC:HESAF) subsequently published its own strong numbers, reinforcing the view that China’s reopening from pandemic lockdowns is fueling growth across the industry.

The company’s rising value has swelled the wealth of the world’s richest person, Bernard Arnault, who built LVMH into a global powerhouse through a series of acquisitions. His fortune stands at almost $212 billion, according to the Bloomberg Billionaires Index.

Shares of Paris-based LVMH (OTC:LVMUY), as the company is formally known, climbed 0.3% to €903.70 at 10:43 a.m. Monday, valuing the company at €454 billion ($500 billion).

LVMH and its French luxury rivals are to the European stock market what Big Tech has been to the US: Dominant businesses whose growth holds up even as the economy waxes and wanes. That’s evident in the global market value rankings, with a host of technology companies dominating the list, where LVMH has become the latest entrant taking 10th place.

“Luxury stocks embody what the equity market has best to offer at the moment: exposure to Chinese consumption, which continues to surprise on the rise, and robust margins thanks to their pricing power,” said Lilia Peytavin, European portfolio strategist at Goldman Sachs in Paris. “This differentiates Luxury from Tech, whose margins have been contracting for several quarters already.”

Demand has held up for LVMH products — Louis Vuitton handbags, Moet & Chandon Champagne and Christian Dior gowns among them — even as surging inflation and rising interest rates have threatened to tip the world into recession.

LVMH did caution this month that it’s seeing a slowdown in US growth, with demand for cognac and leather goods particularly affected, and some investors fret that the stock inevitably will be hurt should the economic slowdown worsen.

For now, paradoxically, concern about a recession is lifting LVMH’s value in dollar terms. The euro this month jumped to its highest level in more than a year as the dollar slumped, fueled by increasing market expectations that a worsening US economy will prompt the Federal Reserve to cut interest rates this year.

Analysts have been raising their targets on LVMH’s stock amid the steep run higher. They see room for further gains, as 30 out of the 36 analysts tracked by Bloomberg have a buy-equivalent rating.

Bank of America.’s Ashley Wallace sees the stock hitting €1,000 in the next year. “LVMH is too cheap given the attractiveness of the luxury goods sector, its strong portfolio of brands and best-in-class execution,” Wallace wrote in a report April 13.

The $500 billion milestone was decades in the making.

Arnault, LVMH’s chairman and chief executive officer, made his foray into luxury in 1984, taking over Boussac Saint-Freres, the bankrupt textile group that owned a gem: Christian Dior. He spun off most of the company’s other businesses and used the windfall to buy a controlling stake in LVMH, whose two main companies, Louis Vuitton and Moet Hennessy, had merged in 1987.

Over the next three decades — and through dozens of acquisitions — he built LVMH into a luxury behemoth selling everything from spirits to leather goods to jewelry through more than 5,600 stores worldwide. He was quick to grasp that China would become a key market, opening the first Louis Vuitton store in Beijing in 1992.

Arnault, 74, and his family own 48% of LVMH’s share capital, and he’s been laying the groundwork to keep the company under family control for decades to come.

The sprawling conglomerate, with its 75 labels ranging from Dom Perignon to Givenchy and Tiffany & Co (NYSE:TIF)., became a training ground for ambitious designers seeking to make a name for themselves: Marc Jacobs and the late Virgil Abloh at Louis Vuitton, Raf Simons at Christian Dior and Phoebe Philo at Celine. All infused the brands with novelty that kept them relevant to young consumers.

In February, Louis Vuitton named musician and apparel entrepreneur Pharrell Williams as the label’s menswear designer, filling the role previously held by Abloh, who died in 2021. Williams will unveil his first collection in June during Paris Fashion Week.

More recently, Arnault has come under fire over possible meddling in his media holdings.

French Resentment

The strong performance of LVMH has propelled his fortune higher, making him the world’s wealthiest person, ahead of Elon Musk and Jeff Bezos.

But it’s also prompted resentment in his home country. On April 13, protesters briefly stormed the headquarters of LVMH on the posh Avenue Montaigne. Union members voiced their anger against President Emmanuel Macron’s plans to raise the minimum retirement age, urging that any shortfall in the pension system should be made up by increasing taxes on businesses like the luxury behemoth.

There’s no sign Arnault intends to step down any time soon. LVMH last year lifted the age limit of its chief executive officer, which would allow him to stay at the helm until 80. The titan has started to lay the groundwork for his succession, though, through a new holding company.
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