Search results
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.
- 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...
In November 2013, LVMH created the LVMH Young Fashion Designer Prize, which comes with a €300,000 grant with a year of mentoring; it was the brainchild of Delphine Arnault. [97] In February 2014 20 finalists for the inaugural prize were shown in London, including Simone Rocha, Thomas Tait, Meadham Kirchhoff, Marques'Almeida , J JS Lee, and others, [ 98 ] and Thomas Tait was the winner. [ 99 ]
All LVMH Maisons craft products and services that strive for excellence and meet the highest ethical, social and environmental standards. They all champion the Group's mission, The Art of Crafting Dreams. Over the centuries, all our Maisons have managed to both preserve and enhance their material and intellectual heritage, with a constant focus ...
Feb 21, 2023 · David: Exactly. They come together, and in December 1988, they initiate a very much like a last ditch effort to try and save their companies. This is crazy. In December 1988, remember, the merger that created LVMH happened only 18 months before.
1987: Louis Vuitton – Founded in France in 1854, Louis Vuitton became part of LVMH in 1987 when the conglomerate was created. Moët et Chandon and Hennessy, leading manufacturers of champagne and cognac, merged respectively with Louis Vuitton to form the luxury goods conglomerate. 1988: Givenchy – Founded in 1952, Givenchy, a couture and ...
People also ask
When was LVMH created?
Who owns LVMH?
When did Louis Vuitton become LVMH?
What does LVMH do?
What makes LVMH unique?
Why does LVMH collect so much?
Bernard Jean Étienne Arnault (French: [bɛʁnaʁ ʒɑ̃ etjɛn aʁno]; born 5 March 1949) is a French businessman, investor and art collector. [2] [3] He is the founder, chairman and CEO of LVMH, the world's largest luxury goods company.
