lvmh news and archive

LVMH subsidiary buys majority stake in Birkenstock

A subsidiary of French luxury group LVMH and its billionaire owner Bernard Arnault have purchased a majority stake in Birkenstock, the German maker of the iconic and eponymous sandals said Friday. No details were given about the price paid by LVMH subsidiary L Catterton and Arnault's family holding fund Financiere Agache, but analysts put the...

Feb. 26, 2021

Business

LVMH buys 50 percent of Jay-Z owned champagne brand

LVMH, the world's biggest luxury goods company, said on Monday it had agreed to buy 50 percent of Armand de Brignac, the champagne brand owned by rapper Jay-Z. The company said the purchase -- for an undisclosed sum and made through its Moet Hennessy drinks division -- also involved a distribution deal and would kick off a partnership reflecting...

Feb. 22, 2021

Business

LVMH now the largest company on European stock market

French luxury goods group LVMH has overtaken Swiss food giant Nestle to become the biggest company on Europe's stock market, owing to resilient Asian sales last year, data showed Wednesday. LVMH's market capitalisation reached 271 billion euros (328 billion dollars) in midday trading, putting it ahead of Nestle's 265 billion. LVMH is composed of...

Feb. 10, 2021

Podcast

Podcast: The Glossy Podcast interviews LVMH’s Karin Raguin

In this episode, The Glossy Podcast interviews the vice president of talent management and corporate responsibility at LVMH North America, Karin Raguin. She discussed how 2020 has enforced transparency, how to attract diverse talent and building towards gender equality. Listen to the podcast below. Source: The Glossy Podcast via Megaphone

Jan. 29, 2021

Business

Rebound in fashion & leather goods business boosts LVMH sales

LVMH Moët Hennessy Louis Vuitton recorded revenue of 44.7 billion euros in 2020, down 17 percent, while organic revenue declined 16 percent compared to 2019. The company said, with an organic revenue decline of only 3 percent in the fourth quarter, the group saw a significant improvement in trends in all its activities compared to the first nine...

Jan. 27, 2021

Business

Tiffany shareholders approve LVMH offer

After months of back and forth, legal complications, stalemates, a global pandemic, Tiffany & Co.’s shareholders approved a 15.8 billion dollar deal with luxury conglomerate LVMH. At a virtual stakeholder meeting, 99 percent of votes were cast in favor of the deal where LVMH would acquire Tiffany & Co. LVMH made an offer for Tiffany & Co. at the...

Dec. 30, 2020

People

LVMH adds luxury brands Fendi and Loro Piana to Andrea Guerra’s responsibilities

French luxury group LVMH has expanded Andrea Guerra’s role: Made CEO for hospitality excellence in February of this year, which includes the Cheval Blanc and Belmont hotels, the 55-year-old will also oversee the businesses of luxury brands Fendi and Loro Piana from January 2021. While the hospitality division will remain Guerra’s focus, he is...

Dec. 22, 2020

Business

LVMH reportedly puts Pink Shirtmaker up for sale

British brand Pink Shirtmaker has reportedly been put up for sale by owner LVMH after demand for office wear plummeted in the past year due to the pandemic. The brand’s stores, websites and social media have all been shut and LVMH is now seeking bidders for the brand, The Evening Standard reports. Potential suitors are understood to have been...

Dec. 14, 2020

People

LVMH names Chris de Lapuente new CEO of Selective Retailing

LVMH has named Chris de Lapuente as the new chairman and CEO of the French luxury giant’s Selective Retailing division, effective January. De Lapuente joined LVMH in 2011 as CEO of Sephora, which he led until September 2020. He currently oversees Sephora and Le Bon Marché group, as well as the perfume and cosmetics activity of the group. In his...

Nov. 30, 2020

People

LVMH appoints Anne de Vergeron as CEO of Repossi

LVMH has named Anne de Vergeron as the new CEO of its jewelry brand Repossi. Vergeron, who was already a board member of the jeweler, has worked at LVMH since 2015 as group director of business development and led the French luxury conglomerate's acquisition of Repossi five years ago. Prior to joining LVMH, she spent 16 years at investment bank...

Nov. 24, 2020

Business

LVMH, Tiffany finally seal merger at lower price

French luxury giant LVMH and US jeweller Tiffany buried the hatchet in their bitter takeover battle on Thursday, agreeing to lower the price of the merger so that it can finally go ahead. Tiffany agreed to accept a lower price from LVMH in order to seal a deal that had been closed to collapsing, the French group said in a statement. “LVMH, the...

Oct. 29, 2020

Business

Tiffany and LVMH resume meger talks

LVMH and Tiffany have revived talks to try to resuscitate their merger, which has been on shaky ground since late summer, a person close to the talks said Tuesday. Among the options, the companies are discussing possibly lowering the price, so LVMH would pay between 130 to 133 dollars a share for Tiffany, instead of 135 dollars under a 16.2...

Oct. 28, 2020