LVMH

From Wikipedia, the free encyclopedia

LVMH
TypePublic (Societas Europaea)[1]
Euronext ParisMC
CAC 40 Component
ISINFR0000121014
IndustryLuxury goods
Predecessors
Founded3 June 1987; 35 years ago (1987-06-03)
FoundersBernard Arnault
Alain Chevalier
Henry Racamier
Headquarters
Global: 22 Avenue Montaigne
Paris, France
Overseas: LVMH Tower
19 East 57th Street
New York, NY 10022
U.S.
Area served
Worldwide
Key people
Bernard Arnault (chairman and CEO)
Delphine Arnault (director)
Antonio Belloni (MD, Deputy CEO)
Andrew Lovell (MD)
Products
ServicesDepartment stores
RevenueIncrease 64.215 billion (2021)[2]
Increase €17.155 billion (2021)[2]
Increase €12.036 billion (2021)[2]
Total assetsIncrease €125.311 billion (2021)[2]
Total equityIncrease €48.909 billion (2021)[2]
Number of employees
150,000 (2021)[2]
ParentChristian Dior SE (41.1%)
SubsidiariesList of subsidiaries
Websitelvmh.com

LVMH Moët Hennessy Louis Vuitton (French: [moɛt‿ɛnɛsi lwi vɥitɔ̃]),[1] commonly known as LVMH, is a European multinational holding and conglomerate specializing in luxury goods, headquartered in Paris.[3] The company was formed in 1987 through the merger of fashion house Louis Vuitton (founded in 1854) with Moët Hennessy, which was established following the 1971 merger between the champagne producer Moët & Chandon (founded in 1743) and the cognac producer Hennessy (founded in 1765).[4][5][6] In 2021, with a valuation of $329 billion, LVMH became the most valuable company in Europe.[7]

LVMH controls around 60 subsidiaries that manage 75 prestigious brands.These include Tiffany & Co., Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer, and Bulgari. The subsidiaries are often managed independently, under the umbrellas of six branches: Fashion Group, Wines and Spirits, Perfumes and Cosmetics, Watches and Jewelry, Selective Distribution, and Other Activities. The oldest of the LVMH brands is wine producer Château d'Yquem, which dates its origins back to 1593.[8] Bernard Arnault is the chairman and CEO of LVMH.

History[edit]

a tall blue glass building with angles
The LVMH Tower in Midtown Manhattan, with its bluish, gem-shaped, angulated glass facade

In the 1980s, French investor Bernard Arnault had the idea to create a group of luxury brands.[9] He worked with Alain Chevalier, CEO of Moët Hennessy, and Henry Racamier, president of Louis Vuitton, to form LVMH.[10] Their successful integration of various famous aspirational brands into a single group 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.[citation needed] LVMH is a component of the Euro Stoxx 50 stock market index.[11]

Make Up For Ever was established in 1984,[12] and was acquired by LVMH in 1999.[13]

On 7 March 2011, LVMH announced the acquisition of the 50.4% family-owned shares of the Italian jeweler Bulgari and the intention to make a tender offer for the rest, which was publicly owned.[14] The transaction was about $5.2 billion.[15]

By 2012, LVMH established LCapitalAsia, a continuation of its private-equity arm, focused on Asia.[16] In 2012, the growth of LVMH's sales "decreased by about 10 percent from the growth rate in 2011", and in early 2013 LVMH expressed that it would "stop opening stores in second and third-tier cities in mainland China".[16] Xue Shengwen, a senior researcher at ChinaVenture, said the developing trend of young people is to take advantage of more acceptable prices.[16] On 7 March 2013, National Business Daily reported that mid-priced clothing brand QDA would open its first store in Beijing, as a co-investment of LVMH's private equity LCapitalAsia and the Chinese apparel company Xin Hee Co., Ltd.[16]

In February 2014, LVMH entered into a joint venture with the Italian fashion brand Marco De Vincenzo, taking a minority 45% stake in the firm.[17][18]

In April 2017, LVMH announced it would gain ownership of Christian Dior haute couture, leather, men's and women's ready-to-wear, and footwear lines, to integrate the entire Christian Dior brand within its luxury group.[19]

In January 2018, LVMH announced record sales of 42.6 billion euros in 2017, up 13% over the previous year, as all divisions turned in strong performances. In the same year, the net profit increased by 29%.[20]

On 1 November 2018, co-founder Alain Chevalier died at age 87.[21]

On 12 May 2019 the fashion house Fenty, styled as FEИTY, created by singer Rihanna was launched by LVMH in Paris. It is the first new fashion house by LVMH in 32 years and she is the first woman of colour to head a brand under LVMH.[22][23]

On 15 July 2019, LVMH announced a new partnership to further develop the Stella McCartney House.[24]

On 29 November 2019, LVMH announced its 55% stake in Château d’Esclans, the producer best known for the brand Whispering Angel.[25] The acquisition was part of LVMH's move to offer a beloved high-end rosé portfolio, in addition to reaching customers worldwide.[26][27]

In November 2019, LVMH expressed plans to acquire Tiffany & Co. for approximately US $16.2 billion. The deal was expected to close by June 2020.[28] LVMH issued a statement in September 2020 indicating that the takeover would not proceed, and that the deal was "invalid" because of Tiffany's handling of the business during the COVID-19 pandemic.[29] Subsequently, Tiffany filed suit against LVMH, asking the court to compel the purchase or to assess damages against the defendant; LVMH planned to counter sue, alleging that mismanagement had invalidated the purchase agreement.[30]

In mid-September 2020, a reliable source told Forbes that the reason for Arnault's decision to cancel the Tiffany purchase was purely financial: because Tiffany was paying millions in dividends to shareholders despite a financial loss of US$32 million during the pandemic. Some US$70 million had already been paid out by Tiffany, with an additional US$70 million scheduled to be paid in November 2020.[31] LVMH filed a counterclaim against the court action commenced by Tiffany; a statement issued by LMVH blamed Tiffany's mismanagement during the pandemic and claimed that it was 'burning cash and reporting losses'".[32]

In late October 2020 Tiffany and LVMH agreed to the original takeover plan, though at a slightly reduced price of nearly $16 billion, a minor reduction of 2.6% from the aforementioned deal. The new deal reduced the amount paid per share by LVMH from the original price of $135 to $131.50.[33] LVMH completed the purchase of Tiffany in January 2021.[34]

In January 2022, LVMH acquired a minority stake in the New York-based label Aimé Leon Dore for an undisclosed sum. The investment was made through the conglomerate's LVMH Luxury Ventures arm.[35]

As of late 2020, LVMH has the largest market capitalization of any company in France,[36] and also in the Eurozone with a record of 261 billion euros ($317.6 billion).[37] As of December 2020, Arnault's own fortune was nearly half that, with a personal net worth of $151.7 billion.[38]

In March 2022, LVMH announced closure of its 120+ stores in Russia, "given the current circumstances in the region",[39] due to the Russo-Ukrainian War. An LVMH spokesperson stated the company would continue to pay salary and benefits to its 3,500 employees in Russia.[39]

In November 2022, it was announced LVMH had acquired the Piedmont-based jewelry maker, Pedemonte Group.[40]

Corporate structure[edit]

LVMH is headquartered in the 8th arrondissement of Paris, France.[4]

The company is listed on the Euronext Paris exchange,[41] and is a constituent of the CAC 40 index.

As of 2010, the group had revenues of €20.3 billion with a net income of just over €3 billion.[42] In 2013, with revenue of $21.7 billion, LVMH was ranked first luxury goods company in Deloitte's "Global Powers of Luxury Goods" report.[43] By 29 February 2016, the company had a share value of 78,126 million euros, distributed in 506,980,299 shares.

As of 2009, the group employed more than 83,000 people,[42] 30 percent of LVMH's staff worked in France, and LVMH operated over 2,400 stores worldwide.[44]

Shareholders[edit]

At the end of 2017, the only declared major shareholder in LVMH was Arnault Family Group, the holding company of Bernard Arnault. The group's control amounted to 46.84% of LVMH's stock and 63.13% of its voting rights.[45]

As of 2009, LVMH held 66% of the drinks division, Moët Hennessy, with the remaining 34% held by Diageo.[46]

As of 2013, Christian Dior SE was the main holding company of LVMH, owning 40.9% of its shares, and 59.01% of its voting rights.[47] Bernard Arnault is Chairman and CEO of LVMH and Chairman of Christian Dior SE. In 2017, Arnault purchased all the remaining Christian Dior shares in a reported $13.1 billion buyout.[citation needed]

Senior leadership[edit]

Bernard Arnault has served as LVMH's chairman and CEO since January 1989.[48] Alain Chevalier was chairman from 1987 until Arnault took over the role.[49]

Subsidiaries[edit]

A partial list including some of LVMH's best-known brands and subsidiaries:[44][50]

Journées Particulières[edit]

Launched in 2011, Journées Particulières is a bi-annual event which allows visitors to enter the various ateliers, studios, caves, and mansions owned by LVMH, for free.

For the first edition we were not at all certain that the public would come. I speak about that with some emotion. I remember coming along avenue Montaigne at 8AM that first morning and seeing hundreds of people, families, elderly ladies and little kids waiting for the doors of avenue Montaigne 30 to open and I thought we are going to write a beautiful page in history.

— Antoine Arnault, referring to Christian Dior's headquarters[51]

It is staged every two years and has opened doors in France, Italy, Switzerland, the UK, the Netherlands, Spain and Germany, with 56 brands welcoming guests into over 70 sites on four continents. The 2017 issue attracted 145,000 visitors.[51]

Philanthropy[edit]

Visual arts[edit]

LVMH is a major patron of art in France. The group supported about ten exhibitions as "Le grand monde d’Andy Warhol"[52] and "Picasso et les maîtres"[53] at le Grand Palais in Paris. LVMH also endorsed the patronage of "l'atelier d'Alberto Giacometti" and "Yves Klein" at Centre Georges Pompidou.

Since 2005, when the LVMH flagship store opened in Paris at 3, avenue George V, 75008, the company presented close collaborations with contemporary artists.[54] Features included a light sculpture by American James Turrell, a 20-metre (65 feet) long "travelling staircase" showcasing the work of American video artist Tim White-Sobieski and an elevator linking the store to the top floor by Iceland's Olafur Eliasson.[55]

In 2006, a gallery space was inaugurated on the second floor of the same building and named "Espace Culturel".[56] "Icônes" was one of the first exhibitions.[57] Shigeru Ban, Sylvie Fleury, Zaha Hadid, Bruno Peinado, Andrée Putman, Ugo Rondinone, James Turrell, Tim White-Sobieski and Robert Wilson were the nine artists invited by Louis Vuitton to participate in it.[51]

In addition, LVMH foundation created the "young creators LVMH award", an international competition opened to French and international beaux-arts students.[58] Each year, six grants are allocated to the winners.

In 2014, LVMH opened the Fondation Louis Vuitton pour la Creation in a new building designed by Frank Gerry in the Bois de Boulogne in Paris. The Fondation is designed as the Group's own museum to present its collections and organize major world-class art exhibitions.

Fashion[edit]

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.[59] 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,[60] and Thomas Tait was the winner.[61] Marques'Almeida won the 2015 prize.[61] In 2019, South African designer Thebe Magugu became the first African to win the prize,[62] and was commended by the President of South Africa, Cyril Ramaphosa.[63]

LVMH underwrites other fashion competitions, including the Andam prize in France, the International Festival of Fashion and Photography in Hyères, France, an investment fund for young designers created by the French Ministry of Culture and Communication, and a scholarship program and sponsored lecture theater at Central Saint Martins in London.[59]

Music[edit]

The group also lends Stradivarius violins to young talented musicians. Maxim Vengerov and Laurent Korcia have used the instruments.

Humanitarian aid[edit]

On 26 August 2019, Bernard Arnault declared that LVMH would donate $11 million to help fight the 2019 Brazil wildfires.[64]

During the COVID-19 crisis, the group shifted its production of perfume and spirits towards hand sanitizer. This production of 12 tons has been offered to hospitals in Paris, France.[65]

In 2022, Louis Vuitton announced a €1 million donation to UNICEF to help the Ukrainian victims of the Russian invasion.[66] On 2 March 2022, LVMH Group pledged €5 million to the Red Cross to those affected by the war.[67][68] In addition, the company closed 124 of its stores in Russia.[69]

E-commerce[edit]

On 24 May 2018, LVMH launched an e-commerce initiative by investing in online fashion search business Lyst, as a way for LVMH's luxury brands to expand their presence online and capture younger shoppers.[70] LVMH contributed to Lyst's $60 million funding round, which also included access to LVMH's international expertise, designed to drive Lyst's global expansion.[71]

Financial data[edit]

Financial data (in million euros) 2006[72] 2007[72] 2008[72] 2009[72] 2010[42] 2011 2012 2013 2014[73] 2015[74] 2016[75] 2017[2]
Sales 15,306 16,481 17,193 17,053 20,320 23,659 28,103 29,016 30,638 35,664 37,600 42,636
Net profit (before minority interests) 2,160 2,331 2,318 1,973 3,032 3,065 3,909 3,947 6,105 4,001 4,363 5,616
Total equity 11,594 12,528 13,887 14,785 18,204 23,512 25,666 27,907 23,003 25,799 27,903 30,260

Controversy[edit]

John Galliano's anti-semitism[edit]

On 25 February 2011, Christian Dior announced they had suspended designer John Galliano following his arrest over an alleged anti-semitic tirade in a Paris bar.[76] In France, it is against the law to make anti-semitic remarks of this nature, and it can be punished by up to six months in prison.[77] On 1 March 2011, Christian Dior officially announced that it had fired Galliano amidst the controversy.[78]

Sebastian Suhl[edit]

In 2012 former Prada COO Sebastian Suhl was hired by Givenchy as the company's new CEO.[79] The Asian Transnational Corporation Monitoring Network (ATNC), a network made of 15 organizations from 12 Asian countries wrote a letter of concern to LVMH Group's Bernard Arnault as Suhl was at the same time a key person in the Prada Female Discrimination Case where he described as complicit in sexual harassment and discrimination practices.[80][81]

Corruption[edit]

During December 2021, LVMH paid €10 million to settle claims in Paris to end several criminal investigations that a former French intelligence chief, Bernard Squarcini, spied for the company, on competitors and others, including on an activist making a film about its billionaire owner, Bernard Arnault. Prosecutors allege that the intelligence chief used tactics like influence peddling, invasion of privacy, and leveraging his network in intelligence and police on behalf of the company.[82]

See also[edit]

References[edit]

  1. ^ a b "LVMH MOET HENNESSY LOUIS VUITTON". Infogreffe. Retrieved 9 September 2020.
  2. ^ a b c d e f g "Annual Report 2021" (PDF). LVMH.com. Retrieved 29 January 2022.
  3. ^ "LVMH Moët Hennessy Louis Vuitton". Greffe du tribunal de commerce de Paris. Retrieved 9 September 2020.
  4. ^ a b "LVMH Moët Hennessy Louis Vuitton SA – Company History". Funding Universe. Retrieved 30 June 2011.
  5. ^ Rachel Sanderson in Milan (6 March 2011). "Retail & Consumer – LVMH to take controlling stake in Bulgari". FT.com. Retrieved 30 June 2011.
  6. ^ "LVMH group, Moet Hennessy Louis Vuitton: world leader in luxury, listed on CAC 40 index". LVMH.com. Archived from the original on 7 June 2011. Retrieved 30 June 2011.
  7. ^ Cormack, Rachel (2 March 2021). "At $329 Billion, LVMH Is Now the Most Valuable Company in Europe". Robb Report. Retrieved 21 May 2021.
  8. ^ The Beginnings of Château d'Yquem Château d'Yquem Retrieved 29 January 2010
  9. ^ CNBC International TV (28 April 2018). "Bernard Arnault, Chairman and CEO of LVMH". Youtube.com. Archived from the original on 22 December 2021. Retrieved 19 August 2021.
  10. ^ "Alain Chevalier, co-founder of LVMH, dies aged 87". Fashion United. 5 November 2018. Retrieved 26 August 2021.
  11. ^ "Frankfurt Stock Exchange". Archived from the original on 8 February 2019. Retrieved 22 October 2015.
  12. ^ Wellington, Elizabeth (1 August 2013). "Mirror, Mirror: Joy! Make Up For Ever comes to King of Prussia". philly.com. Retrieved 3 December 2013.
  13. ^ "Dany Sanz, pionnière du make-up". elle.fr. Retrieved 3 December 2013.
  14. ^ Roberts, Andrew (7 March 2011). "LVMH Plans to Buy Bulgari for $5.2 Billion After Acquiring Majority Stake". Bloomberg.com. Bloomberg. Retrieved 24 October 2011.
  15. ^ Wendlandt, Astrid; Simpson, Ian (7 March 2011). "LVMH bags jeweler Bulgari in $5.2 billion deal". Reuters. Retrieved 24 October 2011.
  16. ^ a b c d Kang, Xiaoxiao (7 March 2013). "LVHM investing in Chinese mid-priced clothing market". Morning Whistle. Archived from the original on 26 March 2013.
  17. ^ Astrid Wendlandt (24 February 2014). "LVMH invests in Italian brand Marco de Vincenzo". Reuters.
  18. ^ Socha, Miles (24 February 2014). "LVMH Takes Stake in Marco de Vincenzo". WWD. Retrieved 24 February 2014.
  19. ^ Hoang, Limei (25 April 2017). "LVMH Takes Control of Christian Dior in $13 Billion Deal". Business of Fashion. Retrieved 29 March 2021.
  20. ^ "Luxury Group LVMH Cautious for 2018 Despite Record Profits".
  21. ^ "Alain Chevalier, Co-founder of LVMH, Dies at 87". 4 November 2018.
  22. ^ "Rihanna makes history with new label". 10 May 2019. Retrieved 31 May 2019.
  23. ^ "Everything We Know About Rihanna's New Fenty Perfume". sqandal.com. 13 August 2021. Retrieved 18 August 2022.
  24. ^ "Stella McCartney and LVMH announce a new partnership to further develop the Stella McCartney House". LVMH. Retrieved 28 November 2019.
  25. ^ "LVMH buys into Whispering Angel". 29 November 2019. Retrieved 3 December 2019.
  26. ^ "Moët Hennessy Buys Control of Luxury Rosé Leader Château d'Esclans". Wine Spectator. Retrieved 3 December 2019.
  27. ^ d’Esclans, Moët Hennessy; Château. "Château d'Esclans Côtes-de-Provence: The World Leader in Luxury Rosé Wines Joins Moët Hennessy". www.prnewswire.co.uk. Retrieved 3 December 2019.
  28. ^ "LVMH Acquires Tiffany & Co. For $16.2 Billion". Forbes. 26 November 2019. Retrieved 30 November 2019. LVMH will "develop this jewel with the same dedication and commitment that we have applied to each and every one of our Maisons. We will be proud to have Tiffany sit alongside our iconic brands and look forward to ensuring that Tiffany continues to thrive for centuries to come"
  29. ^ "LVMH Says Tiffany's Handling of Pandemic invalidates deal". Market Screener. Retrieved 11 September 2020.
  30. ^ "Grandmaster Bernard Arnault looks to the Tiffany endgame". 247 News. Retrieved 12 September 2020.
  31. ^ "Billionaire Arnault On The Offensive After Tiffany Pays Out $140 Million Pandemic Dividends Despite $32 Million In Losses". Forbes. Retrieved 16 September 2020.
  32. ^ "LVMH files countersuit against Tiffany over US$14.5B deal". CTV News. 29 September 2020. Retrieved 1 October 2020.
  33. ^ "LVMH agrees to buy Tiffany for lower price". The Washington Post.
  34. ^ Piscioneri, Francesca (26 January 2021). "More carats and sparkle: How LVMH plans to change Tiffany". Reuters. Retrieved 29 March 2021.
  35. ^ "LVMH acquires stake in New York-based label Aimé Leon Dore | The Industry Fashion". 18 January 2022. Retrieved 18 January 2022.
  36. ^ "Tiffany Agrees To Accept Lower Price For Acquisition By LVMH". Business Insider. 29 October 2020. Retrieved 29 October 2020.
  37. ^ "LVMH Moet Hennessy Louis Vuitton SA Unsponsored ADR (LVMUY : OTCMKTS) Stock Price & News - Google Finance". www.google.com. Retrieved 31 December 2020.
  38. ^ "Bernard Arnault & family". Forbes. Retrieved 31 December 2020.
  39. ^ a b Maheshwari, Sapna (4 March 2022). "Luxury giants LVMH and Hermès will close stores in Russia temporarily". The New York Times. ISSN 0362-4331. Retrieved 15 August 2022.
  40. ^ Shoaib, Maliha (25 November 2022). "LVMH acquires jewellery producer Pedemonte Group". Vogue Business. Retrieved 26 November 2022.
  41. ^ "LVMH". European Equitites. Archived from the original on 30 January 2013. Retrieved 12 December 2012.
  42. ^ a b c "Annual Report 2010" (PDF). LVMH.com. Retrieved 4 February 2012.[permanent dead link]
  43. ^ "Deloitte Global Powers of Luxury Goods 2014 report" (PDF). Archived from the original (PDF) on 17 June 2015.
  44. ^ a b LVMH First half 2009 interim report Archived 24 August 2009 at the Wayback Machine LVMH Retrieved 29 January 2010
  45. ^ "LVMH – Financial Report 2017" (PDF). LVMH. p. 4. Archived from the original (PDF) on 29 January 2018. Retrieved 30 March 2018..
  46. ^ Walsh, Dominic; Boyle, Catherine (23 April 2009). "LVMH denies being in Moët sale talks with Diageo". The Times. London.
  47. ^ "Organizational chart as of April 30, 2013". Dior. Archived from the original on 17 December 2013. Retrieved 12 April 2016.
  48. ^ "Members of the Executive Committee of the LVMH Group" (PDF).
  49. ^ Greenhouse, Steven (17 December 1989). "A LUXURY FIGHT TO THE FINISH". New York Times.
  50. ^ "Houses". LVMH. Retrieved 19 August 2021.
  51. ^ a b c Deeny, Godfrey (12 October 2018). "Antoine Arnault kicks off the Journées Particulières of LVMH". Fashion Network. Retrieved 13 November 2021.
  52. ^ "Présentation de l'expo Warhol". Rmn.fr. Archived from the original on 13 December 2011.
  53. ^ "LVMH, mécène de l'exposition". Rmn.fr. Archived from the original on 21 July 2009.
  54. ^ "Exclusively for the Champs-Elysees".
  55. ^ "BlouinARTINFO".
  56. ^ "Espace Culturel".
  57. ^ "Louis Vuitton s'est associé à neuf créateurs". Le Figaro. Archived from the original on 4 March 2016.
  58. ^ "Prix LVMH des jeunes créateurs". Artefact Paris. Archived from the original on 6 April 2016.
  59. ^ a b Miles Socha (21 November 2013). "LVMH to Establish Global Fashion Prize". WWM. Retrieved 21 November 2013.
  60. ^ Socha, Miles (13 February 2014). "Delphine Arnault Unveils LVMH Prize Finalists". WWD. Retrieved 13 February 2014.
  61. ^ a b Friedman, Vanessa (22 May 2015). "Marques'Almeida Wins 2015 LVMH Prize". The New York Times. Retrieved 24 May 2015.
  62. ^ Paton, Elizabeth (4 September 2019). "Thebe Magugu Wins LVMH Prize for Young Designers". The New York Times. Retrieved 19 October 2022.
  63. ^ "President Cyril Ramaphosa gives nod to Thebe Magugu's work, after amazing debut at Paris Fashion Week".
  64. ^ Dawkins, David. "Bernard Arnault's LVMH Donates $11 Million To Fight Amazon Wildfires". Forbes. Retrieved 27 August 2019.
  65. ^ Abboud, Leila (19 March 2020). "Inside the factory: how LVMH met France's call for hand sanitiser in 72 hours". Financial Times.
  66. ^ Rhonda Richford (4 March 2022). "Louis Vuitton Donates to UNICEF for Ukraine Relief Efforts". WWD. Retrieved 8 March 2022.
  67. ^ Kati Chitrakorn (2 March 2022). "LVMH pledges €5 million to Ukrainian relief, following Kering brands". Vogue Business. Retrieved 8 March 2022.
  68. ^ Miles Socha, Luisa Zargani (2 March 2022). "Fashion Industry Joins Relief Efforts to Help Ukrainian Refugees". WWD. Retrieved 8 March 2022.
  69. ^ Maheshwari, Sapna (4 March 2022). "Luxury giants LVMH and Hermès will close stores in Russia temporarily". The New York Times. ISSN 0362-4331. Retrieved 18 April 2022.
  70. ^ www.ETRetail.com. "Vuitton owner LVMH makes e-commerce push with Lyst investment - ET Retail". ETRetail.com. Retrieved 29 May 2018.
  71. ^ "LVMH Leads $60 Million Lyst Injection". The Business of Fashion. 24 May 2018. Retrieved 29 May 2018.
  72. ^ a b c d "A solid performance in a contrasting economic environment" (PDF). LVMH. Archived from the original (PDF) on 2 March 2012. Retrieved 12 December 2012.
  73. ^ "Annual Report 2014" (PDF). LVMH.com. Retrieved 5 January 2018.
  74. ^ "Annual Report 2015" (PDF). LVMH.com. Retrieved 5 January 2018.
  75. ^ "Annual Report 2016" (PDF). LVMH.com. Retrieved 5 January 2018.
  76. ^ "John Galliano suspended by Dior following arrest over 'anti-semitic rant' - Telegraph". 1 March 2011. Archived from the original on 1 March 2011. Retrieved 29 October 2021.
  77. ^ "John Galliano anti-Semitic rant caught on video; Slurs on camera 'I love Hitler'". New York Daily News. 2 March 2011. Archived from the original on 2 March 2011. Retrieved 29 October 2021.
  78. ^ "Galliano fired after reportedly praising Hitler in rant - TODAY Fashion & Beauty - TODAYshow.com". 4 March 2011. Archived from the original on 4 March 2011. Retrieved 29 October 2021.
  79. ^ "Sebastian Suhl is part of the BoF 500". The Business of Fashion. Retrieved 29 October 2021.
  80. ^ "Against LVMH Group on appointing Sebastian Suhl as COO of Givenchy while the candidate is in the case of sexual harassment and discrimination case in Prada Japan and Prada Luxemburg". ATNC Monitoring Network. 8 May 2012. Retrieved 29 October 2021.
  81. ^ Koedo, Shizuko (6 June 2014). "Alternative Report to the Human Rights Committee for the Consideration of the Sixth Periodic : Japan" (PDF). OHCHR. Retrieved 4 November 2021.
  82. ^ Abboud, Leila (16 December 2021). "LVMH settles corruption claims linked to former French spy chief". The Financial Times. Retrieved 17 December 2021.

External links[edit]