Published: 2023-06-22 ǀ Updated: 2023-07-04
Study the financial data for LVMH.
LVMH Moët Hennessy Louis Vuitton is a French multinational group specializing in luxury goods. The world market leader in this segment, whose oldest brand, Château d'Yquem, dates back to 1593, was created in 1987 from the merger of Louis Vuitton, Moet & Chandon and Hennessy. The approximately 75 prestige brands - including Dior, Givenchy, Bulgari, TAG Heuer and the most valuable brand Louis Vuitton - are managed independently by one of the 60 subsidiaries.
Global: 22 Avenue Montaigne, Paris, France
LVMH Tower, 19 East 57th Street, New York, N.Y., U.S.
Bernard Arnault (Chairman and CEO)
Delphine Arnault (Director)
Antonio Belloni (MD, Deputy CEO)
Andrew Lovell (MD)
|Products||Clothing, Cosmetics, Fashion Accessories, Jewelry, Perfume, Spirits & Wines, Watches|
Wines and spirits
Perfumes and cosmetics
Watches and jewelry
Fashion and leather goods:
Christian Dior, Givenchy, Kenzo, Marc Jacobs, Rimowa, Birkenstock, Louis Vuitton, Fendi
Perfume / Cosmetics:
Guerlain, Kenzo Perfumes, Marc Jacobs Beauty, Perfumes Loewe, Sephora, BITE Beauty
Watches and jewelry:
Bulgari, Hublot, TAG Heuer, Tiffany & Co, Zenith, Chaumet
Wines and spirits:
Chandon, Dom Perignoon, Hennessy, Mercier, Moet & Chandon, Cloudy Bay, Ruinart, Ardberg
DFS, Le Bon Marchhe, La Grande Epicerie
1987: Merger of Vuitton and Hennessy
Fearing a hostile takeover, Louis Vuitton and Moët Hennessy CEOs Henry Racamier (Louis Vuitton) and Alain Chevalier (Moët Hennessy) merge. Both have centuries-old traditions: Louis Vuitton has been making suitcases and bags since 1854, Moet et Chandon has been producing exclusive champagne since 1743, and Hennessy, which merged with Moet in 1971, has been known for its cognac production since 1765. With the merger, the group already has some world-renowned luxury brands under one roof, with many more to follow in the coming years through acquisitions and takeovers.
1988: First disagreements within the company
Only a year after the merger, the first disagreements begin to emerge. Racamier turned to Bernard Arnault, owner of Christian Dior since 1985 (whose perfume division had belonged to Moet Chandon since 1968). The latter would acquire shares in LVMH in order to strengthen Racamier's position. Chevalier, for his part, turns to Guinness, exchanging 12% of his shares for 12% of Moet Hennessy. But the tables quickly turn: Arnault, with the help of Guinness and the Freres investment bank, takes over 45% of LVMH and begins a legal battle with Racamier after Chevalier has already left the company.
1989: Arnault becomes President of the Group
Arnault emerges victorious from the legal dispute with Racamier, who immediately leaves the company, and becomes president of the group against the wishes of the Vuitton and Hennessy families.
1990: Mutual participation with Guinness
LVMH and Guinness increase their mutual shareholding to 24% each. However, the ubiquity of the LV logo in the 1980s damaged the brand's image and led to a decline in sales in the early 1990s.
1992: Opening of the first store in China
LVMH opens its first boutique in China at the prestigious Peninsula Hotel in Beijing. In the same year, the company creates its own environmental department.
1994: Further share swap with Guinness
This year, the two shareholders are reorganizing their stakes. In the future, Guinness will hold 34% of Moet Hennessy, while LVMH will have a buy-back right for the shares in the joint distribution company and the Guinness share in Moet Hennessy.
1996: Investments in retail trade
LVMH expanded into retail, investing in the duty-free chain DFS Galleria and, the following year, in the French cosmetics chain Sephora. However, problems arose in the Asian market and, despite billions of dollars invested, Arnault is unable to prevent a merger between Guinness and the Grand Metropolitan spirits group. The following year, the two companies merge to form Diageo.
1998: Stage curtain for the Chinese opera
LVMH commissions artist Olivier Debré to create a stage curtain for the Shanghai Opera.
1999: Sephora.com goes online
The cosmetics company Sephora goes online with its Web store, sephora.com, and is considered one of the pioneers of online shopping. The perfume J'adore, a tribute to the late designer's floral fairy tale, becomes an absolute bestseller after its launch. The portfolio is expanded with the acquisition of Make Up For Ever.
In the same year, LVMH creates its watch and jewelry division. The company expands overseas with the opening of a second headquarters in New York, a building designed exclusively by Christian de Portzamparc.
2000: Leadership training
The company opens the LVMH House in London as an executive training center.
2002: Contribution to sustainability
Hennessy, Parfums Christian Dior and Veuve Clicquot are conducting carbon accounting for the first time.
2005: Demonstration of sustainability at the Expo
LVMH demonstrates its commitment to the environment at the Aichi World Expo with a pavilion made of salt. In the same year, the Watches and Jewelry Division became a member of the Responsible Jewellery Council (RJC).
The company also opened a flagship store at 3 Avenue George V, 75008 Paris. The building features many details that reflect the company's contemporary approach to art. Since 2006, the store has also housed a gallery on the second floor of the building.
2006: Demonstration of the connection with the USA
To demonstrate its close ties with the U.S., Moet & Chandon illuminates the Statue of Liberty on its 120th birthday.
2007: Fashion show on the Great Wall of China
Fendi attracts worldwide attention with a spectacular fashion show on the Great Wall of China.
2008: Promotion of the arts in Paris
LVMH supports the exhibition "Picasso and the Masters" in Paris. In general, LVMH is also considered a major patron of the arts in France. The company also supported exhibitions such as "Le grand monde d'Andy Warhol" at the Grand Palais or "l'atelier d'Alberto Giacometti" and "Yves Klein" at the Centre Georges Pompidou.
2010: Acquisition of shares in Hermès
LVMH begins to buy shares in its competitor Hermès. To prevent a hostile takeover, the family business creates a family holding company in 2011. In 2013, LVMH is fined 8 million euros by the French banking regulator for its opaque share purchases. A year later, the company announces that it will sell the 23 percent stake to its own shareholders for a profit of about 2.4 billion euros.
That same year, the Céline luggage bag became a must-have.
LVMH is also the official partner of the French Pavilion at the Shanghai Expo. In its home country of France, LVMH entered into a partnership with Central Saint Martins, welcoming students from the prestigious university to its stores and providing financial support in the form of scholarships.
With sales of 20.3 billion euros, the company makes a profit of 3 billion euros.
2011: Buyout of Bulgari
LVMH takes over its Italian competitor Bulgari, initially by acquiring 50.4 percent of the shares and then making a public offer for the remaining shares. The transaction is valued at around 5.2 billion euros.
Architect Christian de Portzamparc, responsible for the design of the New York headquarters, also leaves his mark on the futuristic, ultra-modern Château Cheval Blanc winery.
With the first edition of the Journées Particulières, the company opens its houses, studios and workshops in France, Italy, Switzerland, the United Kingdom, the Netherlands, Spain and Germany to the public free of charge for one day every two years. In 2017, 145,000 people took advantage of this opportunity.
2012: Further brand acquisitions
LVMH acquires British menswear maker Arny's and French leather goods manufacturer Les Tanneries Roux. Designers Humberto Leon and Carol Lim suddenly help the existing Kenzo brand gain greater recognition with the iconic tiger head design.
The company establishes LCapital Asia to further expand its private equity business in Asia. In the same year, however, sales growth slows by around 10% compared to the previous year, prompting LVMH to announce early the following year that it would "stop opening stores in second- and third-tier cities in mainland China".
2013: LVMH Prize for Young Designers
The company invests 2 billion euros to acquire a majority stake in Italian cashmere producer Loro Piana. Helios, the perfume and cosmetics research and development center, became a High Environmental Quality (HQE) certified building. The second Cheval Blanc hotel in the heart of the Maldives was built on the island of Randheli.
The LVMH Prize for Young Designers is launched by Delphine Arnault to highlight young talent in the industry. The prize is worth 300,000 euros and includes a year of mentoring. The company also supports other fashion competitions and promotes young artists, for example by lending them Stradivarius violins.
Jeff Koons designs a balloon Venus as a gift set for Dom Pérignon Rosé Vintage 2003.
In China, the clothing brand QDA opens its first boutique in Beijing, a co-investment between LVMH's private equity arm LCapitalAsia and the Chinese clothing company Xin Hee Co. Ltd.
LVMH ranks first among luxury companies in Deloitte's "Global Powers of Luxury Goods" with sales of 21.7 billion euros. Christian Dior SE is the leading holding company with 40.9% of the capital and 59.01% of the voting rights. Bernard Arnault is both Chairman and CEO of LVMH and Chairman of Christian Dior SE.
2014: Opening of the Foundation Louis Vuitton
The company inaugurates the Fondation Louis Vuitton, a contemporary art exhibition space in Paris. The Foundation is designed to be the Group's museum, showcasing its collections and organizing world-class exhibitions. Star architect Frank Gehry is responsible for the design. In the same year, the Métiers d'Excellence training center is launched, with the aim of passing on skills and know-how to the next generation.
Also this year, LVMH expanded its activities by acquiring a 45% minority stake in the Italian fashion brand Marco De Vincenzo.
2015: Dior flagship in Seoul
Architect Christian de Portzamparc once again makes his mark with Dior's new flagship store in Seoul, which also pays homage to the iconic designer's stylistic codes.
Berluti, the exclusive manufacturer of shoes and leather goods, inaugurates a new production facility in Italy, sending a clear signal of its commitment to expansion.
2016: Fragrances from Grasse
The city in the south of France is considered the center of the perfume industry. Not surprisingly, Les Fontaines Parfumées is home to the ateliers where the fragrances of Louis Vuitton and Christian Dior are created - always with the involvement of local manufacturers to bring the unique savoir-faire of French haute perfumery and its exquisite scents to the world.
At the same time, the exhibition "Icons of Modern Art. The Shchukin Collection," which brought together for the first time works from Sergei Shchukin's collection, previously exhibited at the Pushkin Museum in Moscow and the Hermitage in St. Petersburg, was a resounding success.
2017: Suitcases from Rimowa and incorporation of Dios
At the beginning of the year, LVMH acquires an 80 percent majority stake in Cologne-based suitcase manufacturer Rimowa for 640 million euros - the first German company ever to do so. Arnault's then 24-year-old son Alexandre Arnault becomes Managing Director and CEO of the company until the end of 2020.
More spectacular, however, is the announcement that Christian Dior's haute couture, leather goods, men's and women's ready-to-wear and shoes will be acquired, bringing the entire brand under the LVMH umbrella.
After two years of construction, Hennessy also opens a new bottling and distribution facility in Pont Neuf. In the future, up to eight million bottles a year will be shipped from here.
2018: "We care for Models"
Alain Chavalier, co-founder of the company and long retired, dies at the age of 87.
Together with its competitor Kering, LVMH launches the "We care for Models" initiative to promote fair working conditions and the welfare of models.
In the same year, the Italian eyewear manufacturer Manifattura Thélios is opened. Record sales of 42.6 billion euros represent a 13% increase over the previous year, while net income rises 29%.
The company invests $60 million in online fashion search engine Lyst to strengthen the online presence of the Group's luxury fashion brands and target a younger audience.
2019: Acquisition of Belmond Ltd. and buyout of Tiffany
Based in Hamilton, Bermuda, Belmond Ltd. operates luxury hotels, luxury trains and a luxury cruise ship in 24 countries around the world. LVMH acquires the company this year for 3.2 billion euros.
LVMH buys renowned jeweler Tiffany for 16.2 billion euros. However, due to a legal dispute, the transaction will not be completed until 2021. There are also other acquisitions and collaborations, such as with Stella McCartney, a 55% stake in Château d'Esclans - all with the aim of reaching customers worldwide with a popular high-end rosé portfolio.
In partnership with Rihanna, the company develops an exclusive new luxury home under the Fenty brand. It is the company's first new fashion house in 32 years, and Rihanna is the first woman of color to head a Group brand.
The same year, in partnership with Secours populaire, the company launches "Une Journée Pour Soi" ("A Day for You") to help women in need in several French cities. The company donates $11 million to fight forest fires in Brazil.
2020: The first Watch Week in Dubai takes place
LVMH presents its Bulgari, TAG Heuer, Hublot and Zenith watches to retailers and the press at the first LVMH Watch Week in Dubai.
As part of the Covid 19 pandemic, LVMH contributes by producing 12 tons of hydroalcoholic gel, masks and gowns for medical facilities, communities and NGOs.
At the end of the year, LVMH had the highest market capitalization of any company in France and the euro zone at 261 billion euros. Arnault's personal net worth is nearly half that, at $151.7 billion.
2021: Best technique allegations in Paris
The world-famous American jeweler Tiffany & Co. is fully acquired by LVMH, after Arnault had already planned the purchase for 2019 but wanted to cancel it due to the pandemic. The two parties agree on a slightly reduced purchase price.
The company pays 10 million euros to settle several criminal investigations. The case concerns spying on competitors by the head of French intelligence and an activist who made a movie about Bernard Arnault, who is accused of influence peddling, invasion of privacy and using his network with intelligence agencies and police.
With a valuation of $329 billion, LVMH is Europe's most valuable company.
2022: The expansion continues
The company expands with a minority stake in the New York label Aimé Leon Dore and the acquisition of the Piedmontese jewelry manufacturer Pedemonte Group. At the same time, LVMH closes 124 stores in Russia in the wake of the Russian invasion of Ukraine, but promises to continue paying wages and benefits to its 3,500 employees. The company promises financial support for Ukrainian victims.
2023: The most valuable brand in Europe
LVMH is the first European company with a market value of more than 500 billion euros. It is included in the Euro Stoxx 50 stock index. With more than 150,000 employees, LVMH is the world's largest luxury goods company.
LVMH Group brands
|Wine and spirits||
Clos Des Lambrays (Since 1365)
Château D'yquem (Since 1593)
Dom Pérignon (Since 1668)
Ruinart (Since 1729)
Moët & Chandon (Since 1743)
Hennessy (Since 1765)
Veuve Clicquot (Since 1772)
Ardbeg (Since 1815)
Château Cheval Blanc (Since 1832)
Glenmorangie (Since 1843)
Pitcher (Since 1843)
Mercier (Since 1858)
Chandon (Since 1959)
Cape Mentelle (Since 1970)
Newton Vineyard (Since 1977)
Cloudy Bay (Since 1985)
Belvedere (Since 1993)
Terrazas de Los Andes (Since 1996)
Bodega Numanthia (Since 1998)
Cheval des Andes (Since 1999)
Woodinville (Since 2010)
Ao Yun (Since 2013)
Clos19 (Since 2017)
Volcan de Mi Tierra (Since 2017)
|Fashion and leather goods||
Loewe (Since 1846)
Moynat (Since 1849)
Louis Vuitton (Since 1854)
Berluti (Since 1895)
Rimowa (Since 1898)
Patou (Since 1914)
Loro Piana (Since 1924)
Fendi (Since 1925)
Celine (Since 1945)
Christian Dior (Since 1947)
Emilio Pucci (Since 1947)
Givenchy (Since 1952)
Kenzo (Since 1970)
Marc Jacobs (Since 1984)
|Perfume and cosmetics||
Officine Universelle Buly (Since 1803)
Guerlain (Since 1828)
Acqua Di Parma (Since 1916)
Parfums Christian Dior (Since 1947)
Givenchy Parfums (Since 1957)
Perfumes Loewe (Since 1972)
Benefit Cosmetics (Since 1976)
Make Up for Ever (Since 1984)
Kenzo Perfumes (Since 1988)
Fresh (Since 1991)
KVD Beauty (Since 2008)
Maison Francis Kurkdjian (Since 2009)
Marc Jacobs Beauty (Since 2013)
Cha Ling (Since 2016)
Fenty Beauty by Rihanna (Since 2017)
|Watches and jewelry||
Chaumet (Since 1780)
Tiffany & Co. (Since 1837)
Tag Heuer (Since 1860)
Zenith (Since 1865)
Bulgari (Since 1884)
Fred (Since 1936)
Repossi (Since 1957)
Hublot (Since 1980)
Le Bon Marché Rive Gauche (Since 1852)
La Grande Epicerie De Paris (Since 1923)
Starboard Cruise Services (Since 1958)
DFS (Since 1960)
Sephora (Since 1969)
Cova (Since 1817) - one of Italy's oldest pasticceria
Royal Van Lent (Since 1849) - a Dutch high-end yacht builder
Jardin d'Acclimatation (Since 1860) - the oldest attraction and leisure park in France
Les Echos (Since 1908) - a French media outlet that covers financial news
Le Parisien (Since 1944) - a French general interest news media brand
Connaissance Des Art (Since 1952) - a French magazine for art
Investir - Le Journal des Finances (Since 1974) - a weekly financial publication
Belmond (Since 1976) - luxury travel
Radio Classique (Since 1983)
Cheval Blanc (Since 2006)