LVMH has become the first European company to reach a $500bn market value. A family group headed by Chairman and CEO Bernard Arnault, LVMH is now home to 75 iconic Maisons. It is a French multinational holding and conglomerate specializing in luxury goods, headquartered in Paris, formed in 1987 through the merger of fashion house Louis Vuitton (founded in 1854) with Moët Hennessy. LVMH controls around 60 subsidiaries that manage 75 prestigious brands including: Tiffany & Co., Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer and Bulgari.
As of late 2020, LVMH has the largest market capitalization of any company in France. LVMH received a bump from the return of Chinese shoppers into stores after Covid-19 global pandemy. Shares in LVMH closed up 90 euro cents (0.1%) to €902.00 (£798.30) on Monday. “The group will continue to pursue its strategy focused on the development of its brands, driven by a sustained policy of innovation and investment as well as by a constant quest for quality in its products, their desirability and their distribution,” the company declared in a statement. LVMH CEO Bernard Arnault is currently the world’s richest person, according to the Forbes real-time billionaires index.