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The Latest Breaking News from LVMH

LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos

LVMH CEO Bernard Arnault has seen his wealth overtaken by that of Amazon founder Jeff Bezos.

Fortune

Birkenstock tripped over its own sandals trying to take a step in the IPO world

Over its 250-year history, Birkenstocks have endured wars, fashion revolutions and more—but can they endure the IPO market?

Fortune

LVMH Stock: Is the Luxury Retailer a Value Play After Earnings?

LVMH stock looks like a cheap option as the firm comes off a muted second quarter.

Barchart

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'Birkenstock IPO leaves no room for wardrobe malfunction'

In the end, Birkenstock Holding Plc couldn’t quite put its best foot forward.

The Times of India

The AI revolution is coming. Invest in $10,000 handbags

Analysis shows LVMH, Dior, Hermès and Gucci owner Kering have consistently outperformed Amazon, Google and Apple

The Guardian - UK

Bernard Arnault, the world's second richest man, may be seeing the end of his winning streak as luxury shoppers bolt for the first time in years

LVMH boss Bernard Arnault's wealth topped $200 billion in April surpassing Elon Musk as luxury industry made big gains—but the tide may now be turning.

Fortune

Luxury goods giant LVMH’s shares fall on slower sales growth update

Shares in LVMH fell this morning after investors reacted to the Paris-listed luxury goods powerhouse recording slower sales.

Evening Standard

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LVMH hit by growth slowdown amid fall in demand for high-end drinks

Rising inflation and global instability also blamed for fall in revenue growth in third quarter

The Guardian - UK

Flights begin taking off from Luton airport again after fire, as officials suggest blaze accidental – as it happened

Birkenstock to float in New York with market value of $8.6bn (£7bn), as IMF/World Bank hold annual meetings in MarrakechLuton airport closed and flights suspended after huge fire in car park

The Guardian - UK

European luxury stocks may not have shaken off the impact of economic pressures just yet as a key index that tracks the top 10 luxury stocks declined the most in a quarter since 2020

The luxury stock index, which includes LVMH, Ferrari and Richemont, is under pressure due to tighter consumer spending globally—especially in China.

Fortune

World’s second richest man LVMH's Bernard Arnault under investigation in Paris over connections to Russian oligarch

French prosecutors said the investigation has been underway since 2022. Bernard Arnault's lawyers said money-laundering allegations linking to Nikolai Sarkisov were "absurd and groundless."

Fortune

Victoria Beckham raises the barre with ballet-inspired Paris show

Oversized knits and even hair nets were given a chic glow-up, while Loewe served urbane surrealism

The Guardian - UK

French billionaire investigated in money laundering probe

French billionaire Bernard Arnault and Russian oligarch Nikolai Sarkisov are under investigation for alleged money laundering at a luxury Alpine resort, according to Paris prosecutors.

Radio France Internationale

‘Saint-Tropez has become LVMH Ville’: locals slam super-rich ‘takeover’

The annual influx of billionaires is leading to ‘odious’ practices in the French Riviera town

The Guardian - UK

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Motor1

Antoine Tessier Named CEO of duPont Registry Group

Technology and luxury lifestyle industry leader Joins from LVMH Group.

The Guardian - UK

Paris v Milan: let battle commence for Europe’s fashion capital crown

Milan is the ascendant underdog, Paris the starry frontrunner. And what of post-Brexit London?

Fortune

Novo Nordisk beats LVMH to become Europe’s most valuable company after it takes its ‘miracle’ weight loss drug Wegovy to the U.K.

The Danish pharma giant overtook French luxury conglomerate LVMH as the most valuable European company, which held the title since 2021.

France 24

Danish pharma group becomes Europe's most valuable firm after UK weight loss drug launch

Danish drugmaker Novo Nordisk is now Europe's largest company in market capitalisation, ahead of French luxury giant LVMH. This follows the UK launch of Wegovy, a weight loss drug that cuts appetite and cravings. Tens of thousands of people have already signed up to waiting lists for the treatment. Also…

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news in one place.

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The Guardian - UK

Wegovy maker Novo Nordisk becomes Europe’s most valuable firm

Launch of weight-loss drug in UK helps Danish firm to market value of $428bn

Radio France Internationale

Millionaire businessman donates €10m to struggling French food charity

Head of the French luxury LVMH empire, Bernard Arnault said he would donate €10 million to Les Restos du Coeur, a charity that provides meals and groceries for those in need. The organisation had earlier warned it may have to turn away some 150,000 people this winter as it struggles…

Fortune

Cold email landed me my first job at LVMH, says Nespresso’s U.K. CEO

Anna Lundstrom got her first job off the back of an email to Xavier de Royère while she was still a student.

Barchart

Should You Buy the Dip on This Luxury Retail Stock?

LVMH stock just corrected, but the pains could intensify as the typically resilient luxury goods firm feels the heat of a downturn among aspirational consumers.

Fortune

The 'richcession' is real—Unemployment is rising for the 6-figure salary set, BofA data shows

People making $125,000 and more are getting laid off faster than anyone else, in a reversal of the typical recession playbook.

The Guardian - UK

Versace’s new owner wants to be a big beast. But it’s no match for Europe’s behemoths

Tapestry’s purchase of three big fashion names gives it heft. But LVMH and Kering have the front row to themselves

Fortune

Coach parent buys Versace and Michael Kors owner for $8.5 billion as U.S. big fashion races to catch up with billionaire Bernard Arnault’s European luxury giant LVMH

Tapestry’s acquisition of Capri is a move to wield greater influence in the European-dominated luxury market and mitigate the effects of slowed consumer spending.

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