LVMH news and archive

French billionaire investigated in money laundering probe

Paris - 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. The probe concerns their activities in Courchevel, a ski resort in the French Alps known for being a playground for the ultra-rich, they said late...

Business

LVMH Métiers d'Art expands portfolio with acquisition of Grupo Verdeveleno

LVMH Métiers d'Art, a subsidiary of the renowned French conglomerate, has announced its acquisition of Grupo Verdeveleno, a prominent Spanish company specialising in exotic leather tanning and finishing. Beyond its exceptional product quality, Grupo Verdeveleno is noted for its commitment to transparent supply chains. The partnership signifies a...

Fashion

Rimowa celebrates 125th anniversary during New York Fashion Week

Rimowa, the German-founded luggage company owned by LVMH, has successfully established itself as a coveted fashion accessory brand. Known for its enduring suitcase designs crafted from lightweight, robust materials like aluminum and polycarbonate, its minimalist aesthetics and iconic grooved exteriors have propelled it from a traditional luggage...

Business

Europe's luxury stocks took a 25 billion dollar hit

Luxury-goods stocks in Europe plummeted this week, losing over 25 billion dollars in market value, reported Bloomberg, primarily due to concerns raised by Richemont Chairman Johann Rupert about inflation impacting regional demand. LVMH, formerly Europe's largest company, saw a 3.6 percent drop in its stock price, reducing its market...

BusinessFeatured

Thélios acquires French eyewear brand Vuarnet

Thélios, the eyewear division of French luxury conglomerate LVMH, has acquired French high-end sunglasses brand Vuarnet from NEO Investment Partners. The deal marks the first brand acquisition for Thélios, which designs, produces and distributes eyewear for a number of LVMH houses, including Dior, Fendi, Celine, Loewe, Kenzo and Stella...

Fashion

Jeweller Repossi collaborates with art gallery Amélie, Maison d’Art

Repossi, the LVMH-owned haute jeweller, has joined forces with gallery owner Amélie du Chalard to mark the tenth anniversary of its iconic Antifer collection. This collection is influenced by contemporary art and architecture and blends minimalism with bold angles, exemplifying Repossi's distinct identity. Amélie du Chalard selected six artists...

Fashion

Kenzo chooses Shanghai for first ever show in China

Fashion houses are strategically expanding their outreach by showcasing their collections on both domestic turf and international stages, thereby tapping into broader and more diverse audiences. After Bottega Veneta re-presented its Fall 2023 collection in Beijing, after an initial showing during Milan Fashion Week in February, Kenzo also took...

BusinessFeatured

LVMH's 150 million euro sponsorship deal for Paris 2024 Olympic Games: A high-stakes endeavor

LVMH, the multinational luxury goods conglomerate, signed a groundbreaking sponsorship deal worth approximately 150 million euros for the Paris 2024 Olympic and Paralympic Games. This is a first for the group, which, after sponsoring events at brand level, such as with Hublot for the 2022 World Cup, has now signed its first group-wide agreement...

Culture

Guerlain and Ufan Arles join to create Art & Environment Prize

The Lee Ufan Arles Art Center in France is celebrating its first anniversary by collaborating with beauty giant Guerlain to establish the inaugural Art & Environment Prize. The new award will be given annually to projects exploring the connections between art and environmental stewardship on a global scale. Both Guerlain and Lee Ufan share a...

BusinessFeatured

LVMH records strong H1 sales growth

LVMH Moët Hennessy Louis Vuitton recorded revenue of 42.2 billion euros in the first half of 2023, up 15 percent. The group’s organic revenue growth was 17 percent compared to the same period in 2022. In the second quarter, organic revenue growth was 17 percent, in line with trends seen in the first quarter. Profit from recurring operations for...

Business

LVMH to sponsor Paris 2024 Olympics and Paralympic Games

French luxury conglomerate LVMH Moet Hennessy Louis Vuitton has signed on to become a premium partner of the Paris 2024 Olympic and Paralympic Games, which will include designing the prestigious medals. In a statement, LVMH said that its artisans from across the luxury group will contribute to the sponsorship deal, including Parisian jeweller...

Business

LVMH buys Louis Vuitton Champs-Élysées flagship store

Louis Vuitton owner LVMH has made a significant move in the real estate sector with the purchase of Louis Vuitton's flagship store in Paris. The seven-story building, located at 101 avenue des Champs-Élysées, has been acquired from real estate company Gecina for a reported price range of 770 million to 900 million dollars reported Pambianco. The...