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The Latest Breaking News from LVMH

Chinese owner of Lotus Technology to list a stake in US via blank cheque firm

EV maker and R&D arm of car group owned by Geely planning to join Nasdaq in deal with Spac backed by Bernard Arnault

The Guardian - UK

Aesop reported target in $2bn bidding war between French groups

LVMH, L’Oréal and Japan’s Shiseido Co said to be weighing up bids for Australian luxury beauty brand

The Guardian - UK

France Buys New Masterpiece for Orsay Museum with LVMH Gift

France has acquired a stunning Impressionist masterpiece for its national collection of art treasures, with a donation from luxury goods giant LVMH paying the 43 million euros (nearly $47 million) for “A Boating Party” by 19th-century French artist Gustave Caillebotte. The oil on canvas shows an oarsman in a top…

Asharq Al-Awsat

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France buys new masterpiece for Orsay museum with LVMH gift

France has acquired a stunning Impressionist masterpiece for its national collection of art treasures

The Independent UK

Luxury giant LVMH enjoys best year yet despite post-Covid downturn

French luxury goods giant LVMH is not feeling the post-Covid pinch. The group has released its figures for 2022, which show revenue just below the bar of €80 billion. Meanwhile, shipments of smartphones have dropped to a near-decade low. Finally, we find out about a lawsuit that involves King Charles…

France 24

Luxury Group LVMH's Sales Defy Downturn

Luxury goods group LVMH's sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China. Sales at the world's biggest luxury group reached 22.7 billion euros ($24.65 billion) in the final three…

Asharq Al-Awsat

Flying shame: the scandalous rise of private jets

Last week, Rishi Sunak flew from London to Blackpool – his third private jet trip in 10 days. He’s far from the only one using air travel for short journeys. Just how much damage is this doing?

The Guardian - UK

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Gen Z are splurging on luxury shopping from as young as 15

Teenagers are making their first luxury buys - likely a piece of jewelry or bag - as early as age 15. It's a trend that's set to stay and brands are capitalizing on their new audience.

Fortune

Luxury Giant LVMH hits 400 Billion Euro in Market Value

LVMH shares rose to a fresh record high on Tuesday, giving the luxury goods group a market capitalization of 400 billion euros ($434 billion) for the first time and cementing its lead as Europe's most valuable company. Like other luxury companies which are heavily exposed to China, LVMH has benefited…

Asharq Al-Awsat

Battle for succession in house of Dior: siblings jostle to seize family crown

The world’s richest man, Bernard Arnault, is choosing which of his children will lead his $418bn conglomorate. Cue gold-plated intrigue and drama …

The Guardian - UK

Meet Pietro Beccari: The new CEO of Louis Vuitton

French luxury house, Louis Vuitton Malletier, also known as Louis Vuitton is witnessing a management change. The chairman of the company, Bernard Arnault has reshuffled top management. Now, Pietro Beccari, who has been the head of Dior since 2018, will replace long-time Louis Vuitton CEO Michael Burke and Bernard has…

The Times of India

Why LVMH's Bernard Arnault making his daughter Dior CEO could have drawbacks

Hiring your kids comes with massive pros and cons experts have warned — and even then they may need to work twice as hard to prove themselves to staff.

Fortune

Billionaire owner of LVMH appoints daughter to run Dior

Arnault, 73, overtook Tesla founder Elon Musk as the world’s richest man last year

The Independent UK

World’s richest man Bernard Arnault picks daughter Delphine to run Dior

All five of Arnault’s children are involved in the management of his luxury fashion empire at senior levels

Evening Standard

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Fortune

Elon Musk's net worth drop breaks world record as biggest in history

The Tesla and Twitter CEO has also lost the title of world's richest person, which has been handed to LVMH founder Bernard Arnault.

Asharq Al-Awsat

LVMH Names New Louis Vuitton CEO, Puts Arnault Daughter in Charge of Dior

LVMH Chairman and CEO Bernard Arnault has reshuffled top management at his luxury goods empire, tightening his family's grip with the appointment of his daughter Delphine to lead Christian Dior, and naming a new boss for Louis Vuitton. Pietro Beccari, who has been the head of Dior since 2018, is…

Bangkok Post

Leadership shake-up at Dior, Louis Vuitton

PARIS: The French luxury group LVMH announced a leadership shuffle on Wednesday, naming a new CEO at flagship brand Louis Vuitton and appointing the daughter of billionaire boss Bernard Arnault atop Christian Dior Couture.

The Times of India

Billionaire Bernard Arnault taps daughter Delphine to run Dior amid shuffle

Bernard Arnault appointed his daughter Delphine to run LVMH’s second-biggest brand, Dior, as the 73-year-old billionaire continues to elevate his children to key posts in his luxury empire.

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Asharq Al-Awsat

Hermes Expands in Nanjing as Luxury Industry Bets on Chinese Return

Birkin bag maker Hermes is opening a new, enlarged store in China's Nanjing city, signaling the luxury industry's confidence in a strong return of Chinese shoppers after three years of tough COVID-19 restrictions. Hermes, which first opened a store in the city in 2010, has now relocated to the upscale…

The Guardian - UK

Prosecutors call for France’s former spy chief to stand trial

Bernard Squarcini and 10 others await magistrates’ decision on hearing charges including influence peddling and forgery

Fortune

Tesla share plunge puts market cap behind LVMH, Nvidia, Eli Lilly

Tesla shares fell 12.2% on Tuesday after missing expectations on fourth-quarter deliveries.

Radio France Internationale

Investigators call for French former spy chief to face trial on fraud charges

Following ten years of criminal investigation, French legal officials have called for the trial of Bernard Squarcini, former head of the French internal security agency, and 10 others, on charges of abuse of office, fraud and complicity in breaches of professional and judicial secrecy.

Asharq Al-Awsat

LVMH to Build New Workshop Making Louis Vuitton Bags in Italy

LVMH, the world's largest luxury goods group, plans a new factory in Italy producing Louis Vuitton bags and other leather accessories, the Tuscany region said on Friday. The workshop will be the largest in Italy entirely dedicated to making these products for Louis Vuitton, said the region, which signed a…

ABC News

This man just knocked Elon Musk off the top of the rich list. Who is Bernard Arnault?

He made a lot of noise on his way to the top, but now Elon Musk has fallen from the top of global rich lists. The title now belongs to Bernard Arnault, a man who's known to some as "the wolf in cashmere".

Evening Standard

Who is Bernard Arnault? Elon Musk is no longer the world’s richest man

Arnault becomes the fifth person to rank number one on Bloomberg’s wealth index since it debuted in 2012 after Elon Musk, Jeff Bezos, Bill Gates and Carlos Slim.

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