Arnault has been chairman of Louis Vuitton since he acquired a 44% stake in the brand conglomerate in the late 1980s.
Apparel prices in US retailers rose nearly 5% in June, the biggest leap in a decade. Some retailers are hiking prices to offset supply-chain costs.
Nona Source, which went live on Monday, sells leftover materials from LVMH's sought-after fashion brands, which include Dior and Louis Vuitton.
Arnault and his family control 47.5% of LVMH, and his surge in wealth appears to be the result of an impressive first quarter for the company.
2020 was a great year for billionaires as soaring demand and stock market gains made the world's richest even richer.
Louis Vuitton-owner Bernard Arnault is sponsoring a SPAC focused on European finance. More than 140 SPACs have listed in the US this year, and the trend is spreading to Europe. The bank-check companies raise money before finding a target firm to take public. Sign up here for our daily newsletter, […]
Arnault - who owns brands including Christian Dior, Louis Vuitton and Givenchy - is the latest in a long line of big-name SPAC sponsors.
LVMH and Rihanna suspended collaboration on the Fenty luxury fashion venture two years after its launch, WWD reported. LVMH and Rihanna will concentrate on long-term Fenty brand development, Reuters and WWD reported. Visit the Business section of Insider for more stories. LVMH, the owner of luxury brands Louis Vuitton and […]
The European Commission will decide by October 26 whether to clear LVMH’s $US16 billion acquisition of Tiffany & Co, it said on Monday. LVMH said it still plans to back out of the deal. The news comes after Tiffany filed a lawsuit accusing LVMH of deliberately stalling antitrust proceedings so […]
Louis Vuitton is releasing a light-sensitive face shield on October 30, to be sold in select Louis Vuitton stores worldwide. The retail price of the face shield hasn’t been revealed yet. Louis Vuitton is now the second major luxury brand producing high-end face coverings for sale – Burberry announced its […]
Tiffany slid as much as 9.3% in early Wednesday trading after luxury conglomerate LVMH cancelled plans to buy the jeweller for $US16.2 billion. The Louis Vuitton parent said Wednesday the deal’s contract set a November 24 deadline, and that requests from Tiffany and the French government to delay the deal […]
French luxury goods conglomerate LVMH announced on Wednesday morning that it was pulling out of deal to buy New York-based jeweller Tiffany & Co. The $US16.2 billion transaction would have been the largest in the history of luxury retail. The announcement came immediately after Tiffany said it would take legal […]
The COVID-19 outbreak has caused a global shortage of important products like personal protective equipment and hand sanitizer for healthcare workers. The fashion industry was one of the first to volunteer its resources to combat the pandemic. Chanel is making masks and gowns, while LVMH is producing hand sanitizer. Here’s […]
The luxury goods sector’s revenues are expected to fall 20% in the first quarter of 2020, industry analysts have warned. According to an in-depth report from Bank of America, the revenue declines experienced by luxury goods firms will range between 3% and 31% for the quarter. What’s more, the reports […]
French luxury goods behemoths LVMH and Kering have backtracked after initially telling staff they would be furloughed. LVMH and Kering – run by two of the world’s wealthiest people – had sought to lean on the French government’s assistance scheme for businesses struggling during the coronavirus pandemic. But, according to […]
Some beauty and cosmetics brands are donating funds or facilities to support the pubic amid the coronavirus pandemic. L’Oréal Group, one of the largest beauty producers in the world, is using its facilities to make hand sanitizer for medical officials in need. Beauty and fashion giants LVMH and Coty Inc. […]
Inditex, owner of the retail store Zara, announced on Wednesday that it will donate masks to coronavirus patients and health officials in Spain. The company says it’s also looking into converting factories to manufacture hospital gowns. Zara’s parent company wrote a near-$US335 million impairment for its spring/summer inventory and said […]