Due to soaring share prices, Luxury Titan LVMH is now worth $434 billion
LVMH Just reached new heights in prosperity.
Shares in the world’s largest luxury group climbed as much as 0.4 percent on Tuesday morning to a record high of $860 (€795.7), according to Reuters. As a result, the French conglomerate reached a market capitalization of $434 billion (€400 billion) for the first time in history.
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Bernard Arnault’s behemoth, which has brands such as Tiffany & Co., Christian Dior, Louis Vuitton and Givenchy in its 75-strong portfolio, became Europe’s most valuable company back in March 2021 This position has been further strengthened. It now ranks 14th most valuable company In the world. Apple is at the top of this list with a market capital of just over $2.1 billion.
For comparison’s sake, LVMH’s chief rival, Kering, which helms the likes of Gucci, Saint Laurent And Balenciaga, currently has a market cap of $69 billion. The group’s two other main competitors, Richemont and Hermès, have market caps of $84 billion and $175 billion, respectively.
LVMH reported robust sales Last year, Japan, America and Europe saw record sales due to loyal customers and recovery in international travel. The group also has benefited from the reopening of China this year; the region makes up 21 percent of the world’s $372 billion luxury goods market.
At the same time, LVMH chairman and CEO Bernard Arnault has been reshuffling the C-suite within the various houses and tightening his family’s grip on the luxury empire. He just named his daughter. DelphineChristian Dior’s Chairman and CEO, and he appointed his son Antoine to manage the holding company controlling LVMH and $178 billion Arnault fortune.
All five Arnault children now hold senior positions in the business their father cofounded 35 years ago: Alexandre Arnault is an executive at Tiffany & Co.; Frederic Arnault is chief executive of TAG Heuer; and Jean Arnault takes care of marketing and product development for Louis Vuitton’s watches division.
The booming share price boom is evident in the happiness of the whole clan.
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