LVMH, the French luxury goods group behind Louis Vuitton and Moët & Chandon champagne, has become the first European company to hit a $500bn (£400bn) market value thanks to booming demand among the rich for its high-end brands.
Shares in LVMH closed up 90 euro cents (0.1%) to €902.00 (£798.30) on Monday giving the company – whose roster includes Christian Dior, Stella McCartney, TAG Heuer watches and Bulgari and Tiffany jewellery – a market capitalisation of €454bn, or half a trillion dollars.
