MILAN—LVMH shares rose to a fresh record high on Tuesday, giving the luxury goods group a market capitalization of 400 billion euros ($434 billion) for the first time and cementing its lead as Europe’s most valuable company. Like other luxury companies which are heavily exposed to China, LVMH has benefited this year from the fast…
Elon Musk Briefly Loses Title as World’s Richest Person to LVMH’s Arnault: Forbes
Twitter owner and Tesla boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep drop in the value of his stake in the electric-car maker and a $44 billion bet on the social media firm. Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s…
Louis Vuitton Artistic Director Virgil Abloh Dies of Cancer at 41
NEW YORK—Designer Virgil Abloh, a leading fashion executive hailed as the Karl Lagerfeld of his generation, has died of cancer. He was 41. Abloh’s death was announced Sunday by the luxury group LVMH (Louis Vuitton Moët Hennessy) and the Off-White label, the haute street wear brand Abloh founded in 2013. Abloh was the artistic director…
LVMH Shares Flat After Its Third Quarter Revenues
PARIS—Shares in LVMH were flat in early trading on Wednesday after the French luxury giant posted a strong rise in sales in its fashion and leather goods division in the third quarter. LVMH, whose luxury products span Moët & Chandon champagne and Bulgari timepieces, said on Tuesday the popularity of its star labels Louis Vuitton…
European Stocks Reverse Losses on Strong SAP, LVMH Results
October 13, 2021
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European stocks recouped early losses on Wednesday as upbeat earnings forecast from German software group SAP and robust quarterly sales for French luxury goods maker LVMH helped soothe worries about inflation. By 0824 GMT, the pan-European STOXX 600 index was up 0.2 percent after falling as much as 0.4 percent in opening trade. The German…
French Luxury Group LVMH Seeks 25,000 Young Staff in Recruitment Drive
PARIS—LVMH aims to hire 25,000 people under 30 years of age by the end of 2022, the French luxury behemoth said on Wednesday, as it accelerates recruitment to meet brisk demand for high-end goods. The European luxury sector has seen a fast pace of growth in recent months, as stores reopened following lockdown periods and…
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