What does LVMH mean in Companies & Firms?

LVMH

LVMH Moët Hennessy – Louis Vuitton SE (French pronunciation: ​[moɛt‿ɛnɛsi lwi vɥitɔ̃]), also known as LVMH, is a French multinational luxury goods conglomerate headquartered in Paris(France). The company was formed in 1987 under the merger of fashion house Louis Vuitton with Moët Hennessy, a company formed after the 1971 merger between the champagne producer Moët & Chandon and Hennessy, the cognac manufacturer. It controls around 60 subsidiaries that each manage a small number of prestigious brands. The subsidiaries are often managed independently. The oldest of the LVMH brands is wine producer Château d'Yquem, which dates its origins back to 1593.Christian Dior SE is the main holding company of LVMH, owning 40.9% of its shares, and 59.01% of its voting rights. Bernard Arnault, majority shareholder of Dior, is Chairman and CEO of both companies. In 2017, Arnault purchased all the remaining Christian Dior shares in a reported $13.1 billion buy out. The Dapifer reports that LVMH will gain ownership of Christian Dior haute couture, leather, both men's and women's ready-to-wear, and footwear lines.Arnault's successful integration of various famous aspirational brands into a single group has inspired other luxury companies to do the same. Thus, the French conglomerate Kering and the Swiss-based Richemont have also created extended portfolios of luxury brands. The company is a component of the Euro Stoxx 50 stock market index.

see more »