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The Latest Breaking News from LVMH

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

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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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Antoine Tessier Named CEO of duPont Registry Group

Technology and luxury lifestyle industry leader Joins from LVMH Group.

Motor1

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?

The Guardian - UK

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.

Fortune

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…

France 24

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

The Guardian - UK

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…

Radio France Internationale

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.

Fortune

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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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news in one place.

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The Independent UK

Coach parent Tapestry buying Capri, owner of Michael Kors and Versace, in $8.5 billion deal

Tapestry, parent company of luxury handbag and accessories retailer Coach, is buying the owner of fashion brands including Michael Kors, Versace and Jimmy Choo, Capri Holdings

Radio France Internationale

France to bring artisanal know-how to 2024 Olympic Games

With just one year to go, France is getting ready for the summer Olympic games that will begin with an extravagant ceremony scheduled for 26 July 2024. While organisers race to finalise security details, French brands and sponsors are also putting their best foot forward to get their share of…

The Independent UK

What you need to know about the massive LVMH deal with the Paris Olympics

The luxury goods company has announced a multi-brand partnership with the XXXIII Games.

The Independent UK

Luxury group LVMH joins top-tier French sponsors of the 2024 Paris Olympics and Paralympics

The world’s biggest luxury group, LVMH Moët Hennessy Louis Vuitton, has announced a sponsorship deal with the 2024 Paris Olympics and Paralympics

Zenger

French Stocks Defy Civil Unrest As Luxury Brands Shielded By Global Revenues

Nationwide protests fail to dampen CAC 40 index's best weekly performance since March, thanks to international focus of luxury conglomerates.

Daily Mirror

Tiffany's New York fire: Huge blaze tears through refurbished Fifth Avenue building

Images show smoke billowing from the newly refurbished iconic Tiffany's building in Fifth Avenue, Manhattan New York - fire crews report a 'high voltage electrical fire' in the basement

The Guardian - UK

He’s the world’s richest man. So why do we hear so little from Bernard Arnault?

France does not expect much in the way of philanthropy from its low-profile billionaire class. Perhaps it should, says Alexander Hurst of Sciences Po

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