LVMH news and archive

French luxury mogul Arnault defiant at ex-spy chief trial

Paris - France's richest man, LVMH chief Bernard Arnault, testified Thursday in the influence-peddling trial of the former head of France's domestic intelligence agency, denying any knowledge of an alleged scheme to protect the luxury group. Bernard Squarcini, the former head of the DCRI security service (since renamed the DGSI), is one of 10...

Podcast

Podcast: The Success Story of Bernard Arnault, CEO of LVMH

In this episode of the 'Success Story' podcast, its hosts discuss the story of Bernard Arnault, the 75-year-old founder, chairman and CEO of the French luxury conglomerate LVMH. Arnault plays a pivotal role in the history of luxury fashion. The podcast explores how Arnault is transforming the luxury industry. The hosts discuss the highs and lows...

PeopleFeatured

LVMH replaces Chantal Gaemperle with Maud Alvarez-Pereyre as HR head

In a turn of events at luxury conglomerate LVMH has announced the departure of its human resources head Chantal Gaemperle after serving the business for the last 17 years. The company has now nominated Maud Alvarez-Pereyre as executive vice president human resources of the group and who will also become a member of the executive committee,...

Business

LVMH plans to invest in Mykita

LVMH plans to further expand its presence in the eyewear sector and has set its sights on Mykita. The French luxury goods group wants to acquire a stake in Mykita through its subsidiary Thélios, the Berlin-based eyewear manufacturer confirmed to FashionUnited. Germany's competition regulatory agency still has to give its approval. “We are proud...

Fashion

Fendi to celebrate centenary anniversary with co-ed catwalk show

Fendi is reportedly preparing to mark its centenary with a co-ed fashion show at Milan Fashion Week in February, according to WWD. The show will be a celebration of the brand’s legacy and a highlight on the bi-annual fashion week calendar. Led by Silvia Venturini Fendi, the creative mind behind the brand’s iconic Baguette bag and creative head...

BusinessFeatured

Luxury shares tumble as Richemont posts sales decline

Swiss luxury conglomerate Richemont, owner of such brands as Cartier, Chloe, and Alaïa, experienced a sharp 6 percent drop in its share value this week, after announcing weaker-than-anticipated earnings. The company reported quarterly sales of 2.2 billion euros, falling short of analysts' projections of 2.45 billion euros, with profits marking a...

Business

LVMH acquires minority stake in menswear brand Our Legacy

LVMH Luxury Ventures, an investment arm of luxury group LVMH, has acquired a minority stake in Swedish brand Our Legacy, Business of Fashion reported exclusively. LVMH has not yet confirmed the deal. Our Legacy will reportedly use the investment to scale up its operations, kicking off its “next phase of growth” by expanding its store network to...

BusinessFeatured

Is Moncler taking over Burberry?

Burberry’s struggles in recent years have been no secret. Despite the appointment of a new creative director and chief executive officer, its financials have remained somewhat lacklustre, leaving it in a vulnerable position for a potential takeover. And rumours have begun to swirl that down jacket specialist Moncler could be none other than its...

BusinessFeatured

French luxury titans see wealth decline

LVMH chief Bernard Arnault is no longer the world’s wealthiest man. As the luxury sector grapples with a China slowdown, three of France’s billionaires — Bernard Arnault, L’Oréal’s Francoise Bettencourt Meyers and Kering’s Francois Pinault — are seeing their fortunes dwindle as "restraint replaces indulgence," reports Bloomberg. Their combined...

Business

France's richest family, Red Bull in exclusive talks for Paris FC takeover

Paris - The Arnault family, owners of the LVMH luxury goods conglomerate, are in "exclusive negotiations" to buy a controlling stake in French football club Paris FC in a deal that will see energy drinks giant Red Bull secure a minority shareholding. The Agache group, which is controlled by LVMH CEO Bernard Arnault, said in a statement that it...

Business|Opinion Featured

LVMH sales dip signals broader challenges for the luxury industry

A 5 percent decline in quarterly sales may not spell disaster for LVMH's annual revenue, but for a bellwether like this luxury giant, the stagnation in its fashion and accessories portfolio signals broader challenges for the entire industry. LVMH, long heralded for its ability to weather economic downturns and outpace its competitors, is now...

BusinessFeatured

LVMH says Q3 sales fell 4.4 percent to 19 billion euros

The French luxury goods group Moët Hennessy Louis Vuitton (LVMH) also suffered a decline in sales in the third quarter of the 2024 financial year. With its results published on Tuesday evening, the group fell short of market expectations. In the period from July to September, group sales amounted to just under 19.1 billion euros. This...