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HISTORY. LVMH was created in 1987 through the merger of Moët Hennessy and Louis Vuitton, ushering in a new era for the luxury industry. Bernard Arnault has led the Group since 1989 and is the majority shareholder, pursuing a clearly focused vision: make LVMH the world leader in luxury.
Louis Vuitton merges with Moet et Chandon and Hennessy to form LVMH - a move which cements the international reputation and influence of the three luxury brands. It has since grown to become one of the dominant forces in luxury retail, controlling 75 brands under 60 subsidiaries in industries spanning fashion, jewellery, wines and spirits, travel and more.
1969: Louis Vuitton enters the Asian market with a store in Tokyo. 1971: Moët et Chandon merges with Jas. Hennessy & Company, the largest cognac producer in France, and is renamed Moët-Hennessy. 1984: Louis Vuitton goes public. 1987: Louis Vuitton and Moët-Hennessy merge in a $4 billion deal. Company History:
LVMH. LVMH Moët Hennessy Louis Vuitton (French: [mɔɛt‿ɛnɛsi lwi vɥitɔ̃]), [1] commonly known as LVMH, is a French multinational holding company and conglomerate [7][8][9][10] specializing in luxury goods, headquartered in Paris. [11] The company was formed in 1987 through the merger of fashion house Louis Vuitton (founded in 1854 ...
- Overview
- History
- Fashion
- Scandals
LVMH, multinational conglomerate headquartered in Paris that is the largest luxury goods group in the world. LVMH owns 75 luxury brands, including Louis Vuitton, Christian Dior, and Tiffany & Co. It is the only group whose subsidiaries span all five sectors of the luxury goods market: wines and spirits, fashion and leather goods, perfumes and cosme...
LVMH began in 1987 when Henri Recamier, then the head of Louis Vuitton, announced the merger of his company with Moët Hennessy. The latter was itself a merger, formed in 1971 between Moët & Chandon, a historic producer of champagne known especially for Dom Perignon, and Hennessy, a leading producer of cognac. Three years later Recamier was ousted from the company in a hostile takeover by Bernard Arnault, who became chairman and CEO of LVMH.
Arnault focused on increasing LVMH’s growth by acquiring existing companies and brands in various luxury sectors, including the French fashion houses Christian Lacroix, Givenchy, and Kenzo; the leather goods companies Loewe, Celine, and Berluti; the jeweler Fred Joaillier; the duty-free chain DFS Group; and the beauty retailer Sephora. He pursued this strategy so effectively that LVMH’s revenue increased 500 percent from 2005 to 2022, when it also announced annual profits of over €20 billion.
LVMH has nurtured a reputation for promoting creativity and artistic talent in the fashion market. In a 2014 interview with the management consulting firm McKinsey & Company, Pierre-Yves Roussel, then the CEO of the LVMH fashion group, described how the company sought out creatives who were able to innovate and keep iconic products relevant. Indeed...
Despite its successes, LVMH has not been without its scandals. From the very beginning of Arnault’s tenure, his aggressive style raised eyebrows and often led to vitriolic lawsuits, as when he ousted Recamier during LVMH’s earliest years and when he attempted to pull out of purchasing Tiffany & Co. during the height of the COVID-19 pandemic in 2020...
Oct 9, 2024 · It was launched by its namesake founder in 1854. LVMH owns 75 brands in six business groups: Wines and Spirits, Fashion and Leather Goods, Perfumes and Cosmetics, Watches and Jewelry, Selective ...
Jun 14, 2024 · Antoine Arnault is Bernard's oldest son, born in 1977. He joined LVMH's advertising department at the age of 28 in 2005. Within two years, he became the director of communications at Louis Vuitton. In 2022, Antoine assumed the role of CEO at Christian Dior SE, the family's holding company for controlling LVMH.
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