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LVMH news and archive

Business

Some luxury brands are beating Q3 exceptions

Last week LVMH set a precedent for other luxury groups when it posted double digit growth for its fashion and accessories businesses in Q3. While in the first nine months organic revenue declined by 11 percent, due to global lockdown measures and store closures, the third quarter saw a strong rebound in activity, with a growth of 12 percent....

23 Oct 2020

Fashion

Despite ample celebrity and financial backing, Rihanna's Fenty is yet to take off

Back in January 2019 when rumours circulated of a partnership between luxury conglomerate LVMH and Rihanna’s Fenty brand it was enough for the New York Times to quip “is Rihanna the new Coco Chanel?” “The combination of Fenty and LVMH will be the clearest expression yet of how celebrity, social media and influencers have redefined the power...

20 Oct 2020

Business

Fashion business boosts LVMH sales in Q3

LVMH Moët Hennessy Louis Vuitton recorded revenue of 30.3 billion euros in the first nine months of 2020, down 21 percent. On an organic basis, the company said in a statement, revenue declined 21 percent. The company added that revenue was down 7 percent in the third quarter to 12 billion euros on an organic basis, reflecting a marked...

16 Oct 2020

Business

Merger gone awry: LVMH and Tiffany are suing each other

In November 2019 LVMH announced it was to buy American jeweller Tiffany in an unprecedented 16 billion dollar deal. The following month, the onset of the coronavirus pandemic would change the course of the retail and luxury industry, so too company valuations, and mergers and acquisitions for the unforeseeable future. Nearly one year has passed...

15 Oct 2020

People

New CEO and chairman of DFS

The DFS shareholders, the LVMH Group and Robert Miller, have announced that Benjamin Vuchot has been appointed chairman and CEO of DFS, effective January 2021. He first joined the luxury travel retailer, DFS, in 2011 as the Asia North president, leading the company’s operations in Hong Kong, Macau, China and Korea and driving several significant...

30 Sep 2020

Business

LVMH hits Tiffany with a countersuit

French behemoth LVMH said Tuesday that it had filed a countersuit against the American jewellery brand Tiffany, setting up an unusual legal fight after the collapse of one of the biggest luxury takeover bids in decades. LVMH walked away from its 16.2 billion dollar offer this month after claiming a series of poor decisions by Tiffany's board...

29 Sep 2020

Business

Tiffany wins court approval to fast-track lawsuit against LVMH

US jewelry brand Tiffany & Co has won approval by the Delaware Chancery Court to have its lawsuit against french conglomerate LVMH fast-tracked. The lawsuit was launched by the jeweler after LVMH said in September it was pulling out of its 16 billion dollar deal to acquire Tiffany. LVMH said its board had made the decision following “a...

22 Sep 2020

Business

LVMH submits Tiffany deal for approval by European Commission

LVMH confirmed Friday that it has submitted the proposed acquisition of Tiffany for antitrust review, immediately after receiving approval to proceed by the European Commission. LVMH noted that eight of the ten requisite antitrust clearances have already been obtained. LVMH expects to receive approval from the European Commission and Taiwan well...

21 Sep 2020

Business

Tiffany responds to LVMH opposition, wants to expedite lawsuit

Tiffany is fighting back against LVMH, after the conglomeratepulled out of its acquisition deal earlier this month.The luxury jewelry brand filed a lawsuit against LVMH, to which the latterthreatened to countersue.Now Tiffany is pushing back, once again. LVMH filed an opposition in Delaware Chancery Court, against Tiffany's request to expedite...

17 Sep 2020

Business

LVMH and Nicholas Kirkwood split

There's about to be one less brand in LVMH's portfolio. Business of Fashion has reported that LVMH and Nicholas Kirkwood are parting ways. Nicholas Kirkwood is taking back control of his brand after a seven year partnership between the British label and the French-owned luxury conglomerate. LVMH told Business of Fashion that "the decision was...

11 Sep 2020

Business

LVMH says will counter-sue Tiffany, accuses it of 'dishonesty'

French luxury giant LVMH said Thursday it would counter-sue US jeweller Tiffany, accusing it of “dishonesty” as their plans for a sparkling tie-up descended into bitter recrimination. “LVMH was surprised by the lawsuit filed by Tiffany,” the French owner of brands such as Louis Vuitton, Dior and Moet & Chandon said in a statement. “LVMH...

10 Sep 2020

Business

Tiffany threatens lawsuit after LVMH pulls out of acquisition

Luxury giant LVMH said Wednesday it was calling off its planned 16.2-billion dollar acquisition of US jeweller Tiffany, as the glittering marriage threatened to descend into a bitter legal battle. LVMH said its board had decided not to tie the knot after all, following "a succession of events which undermine the acquisition of Tiffany & Co,"...

9 Sep 2020