LVMH news and archive

LVMH chairman Bernard Arnault acquires L'Opinion and L'Agefi

Paris - Bernard Arnault, chairman and CEO of LVMH (LVMH Moët Hennessy Louis Vuitton), has acquired the liberal daily L'Opinion and the financial news website L'Agefi. LVMH already controls the Les Echos-Le Parisien press group and Paris Match. Sources close to the matter confirmed the acquisition to the press on Thursday, following a report in...

People

Alexander Wang appoints new global president

Alexander Wang appoints new global president The US fashion brand Alexander Wang has appointed Robert Rizzolo as global president on July 1. The brand announced the appointment on LinkedIn. Rizzolo previously served as chief merchandising officer at Marc Jacobs. He held this role since July 2021. Rizzolo has over 25 years of retail experience....

Fashion

Heir to Louis Vuitton burgled in Paris

The Paris home of an heir of the Louis Vuitton luxury empire was burgled at the weekend, sources close to the case said Monday, with thieves taking high-end watches, jewelry and bags. Benoit-Louis Vuitton, a sixth generation descendant of the fashion house's founder, lives in the swanky seventh district of the capital near the Invalides military...

Business

LVMH, Hermes, Chanel pause business in Russia

French luxury giants LVMH, Hermes and Chanel have decided to temporarily close their shops in Russia, which invaded Ukraine on February 24, the firms announced Friday. Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60 people in the country. "Taking into account the situation in the...

Business

Luxury sector unphased by Corona despite soaring inflation

The pandemic and soaring inflation have done nothing to take the shine off luxury brands, from Louis Vuitton to Gucci and Cartier, as the sector hiked prices to notch up stellar profits. The world economy began to recover from the pandemic last year but the rebound has been accompanied by rising inflation, with prices for raw materials and...

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Business

2021 Round up: The most notable acquisitions this year

Anyone who takes a quick look at the news over the past year will have noticed one business trend: takeovers, takeovers and takeovers. Various fashion groups seem to be actively in the acquisition game, while other companies were presented with an opportunity that they could not turn down. To sum it all up: these were the most notable...

Business

LVMH to launch share buyback program up to 300 million euros

LVMH Moët Hennessy Louis Vuitton S.E. (LVMH), a French luxury goods company, on Tuesday said that it has granted an irrevocable mandate to an investment services provider for the acquisition of a maximum of 300 million euros of its shares. The acquisition is expected to begin from December 21, and is expected to continue until February 15, 2022....

Business

LVMH to pay 10 million euros to settle spying claims

French luxury behemoth LVMH will pay 10 million euros (11.3 million dollars) to settle claims that it hired France's former domestic intelligence chief to spy on private citizens, in particular on a filmmaker who made a widely popular documentary targeting the group's CEO. A Paris court on Friday validated the settlement offered by prosecutors,...

How Myanmar "conflict rubies" could end up in your Christmas stocking

During the holiday season the gift of jewelry is given as a symbol of love and celebration. Precious stones in exquisite settings are slipped into satin-lined branded boxes, and purchased by well-intentioned consumers to present to their loved ones. Rubies from Myanmar are thought to be the finest in the world but the origin of these gems often...

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Business|ANALYSIS

LVMH goes from strength to strength 200 years after Louis Vuitton’s birth

This year marks the 200th anniversary of the birth of Louis Vuitton, but also a point of inflexion for LVMH. The world’s largest luxury group has recorded 46 percent revenue growth in the first three quarters, delivered record first-half organic growth for its Fashion & Leather Goods division and pioneered the conquest of the future luxury...

People

LVMH appoints chief diversity and inclusion officer

LVMH has appointment Vanessa Moungar as chief diversity and inclusion officer. She will report to Chantal Gaemperle, executive vice president of human resources and synergies. Her role will be to build a network of diversity and inclusion leaders in the group’s portfolio of brands. “Vanessa will bring her extensive experience to take our...

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Fashion

LVMH to recycle textiles in partnership with weturn

LVMH has solidified a partnership between several of its fashion maisons and weturn, a company that offers an innovative recycling chain dedicated to unsold textiles from major fashion houses. Founded in 2020, weturn is the first recycling chain dedicated to unsold textiles, rolls of fabric and offcuts from major fashion houses, which are all...