|Bid||356.35 x N/A|
|Ask||0.00 x N/A|
|Day's Range||365.10 - 365.10|
|52 Week Range||365.10 - 365.10|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The continuing protests in Hong Kong have added another layer of worry to the geopolitical landscape, and while the stakes are certainly higher than handbag sales, investors may still be concerned about how the unrest will impact luxury-good makers.
(Bloomberg) -- LVMH shares rose to a record after second-quarter sales breezed past analysts’ estimates, fueled by creative revamps at its Louis Vuitton and Christian Dior fashion brands.Sales of fashion and leather goods rose 20% on an organic basis in the second quarter. The stock rose as much as 3.3% in Paris to a record, lifting LVMH’s market value to almost 200 billion euros ($223 billion).LVMH’s growth accelerated as it boosted marketing despite concerns about a slowing economy in China, which has been driving luxury demand. European labels are benefiting from cuts to sales taxes and import duties that are encouraging Chinese customers to visit stores at home rather than abroad.The robust growth in the key fashion and leather division is a sign that LVMH’s move to reshuffle its menswear designers last year is paying off. In his first year at Christian Dior, new designer Kim Jones has won fans by reworking the brand’s classic Saddlebag for men, as well as designing leopard-print sneakers and romantic double-breasted suits. His counterpart at Louis Vuitton, Virgil Abloh, issued crocodile utility harnesses, puffer coats and runway collections rife with references to pop culture like the Wizard of Oz.Another star designer, Hedi Slimane, took over at Celine, where he is overseeing women’s collections and has added the brand’s first menswear line.Second-Richest ManBrands’ “consistently refreshed creativity” was key to LVMH’s success, Chairman Bernard Arnault said in a statement. As the stock has gained lately, the billionaire has been vying for the ranking of the world’s second-richest person with Bill Gates.While LVMH continued to see its fastest growth in Asia, Europe also accelerated as the company saw rebounding sales in France, where Yellow Vest protests in Paris dwindled."We see improvement across the board,” Chief Financial Officer Jean-Jacques Guiony said in a conference call with analysts. “This is not only a Chinese show."LVMH’s first-half profit from recurring operations rose 14% to 5.3 billion euros ($5.9 billion). Margins were stable as the fashion division increased investments in marketing and the store network. "We are not milking the brands in good times," Guiony said. "It’s the right thing to do if we want to strengthen the portfolio."(Updates with shares in second paragraph.)\--With assistance from Karen Lin (Bloomberg Global Data).To contact the reporter on this story: Robert Williams in Paris at email@example.comTo contact the editors responsible for this story: Eric Pfanner at firstname.lastname@example.org, Marthe Fourcade, Frank ConnellyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Mexican government has questioned Louis Vuitton's use of a traditional Mexican pattern in the design of a chair, less than a month after it sent a similar letter to another prominent fashion house. The culture ministry said in the letter dated July 5 that it was surprised to find one chair in the Dolls by Raw Edges collection by the Paris-based fashion house featured the designs of Mexican artists in Hidalgo. It is the second time in less than a month that the Mexican government sent such a letter.
Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world. Fenty - after the "Umbrella" hitmaker's full name, Robyn Rihanna Fenty - will build on the singer's existing joint venture in cosmetics with LVMH, with a full range of clothing, shoes and accessories. "My fashion will be different and non-traditional, because I do not come from this industry," the singer told a news conference Wednesday evening, saying she hoped to bring a "new vision of fashion".
Affluent consumers will keep buying Louis Vuitton bags and drinking Hennessy -- regardless of how the U.S.-China trade war plays out.
NEW YORK (AP) — Rihanna certified her status as a cultural fashion icon with her groundbreaking new deal with LVMH Moët Hennessy Louis Vuitton, the world's largest luxury group.
Louis Vuitton owner LVMH is launching a new fashion brand with Barbadian singer Rihanna, in a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world. Fenty - after the "Umbrella" hitmaker's full name, Robyn Rihanna Fenty - will build on the singer's existing joint venture in cosmetics with LVMH, with a full range of clothing, shoes and accessories. LVMH said on Friday that the launch, rumored for several months, was "fast approaching", with the first looks set to be presented in Paris before the summer.
Citi bank resumed coverage of LVMH Moet Hennessy Louis Vuitton SA Unsponsored ADR (OTC: LVMUY ) Tuesday with a bullish stance. The Analyst Thomas Chauvet resumed coverage of LVMH with a Buy rating and ...
There is no doubting the sincerity of LVMH, Kering SA and their founding families, who led the way with donations after the devastation earlier this week. The city of Paris, its streets and landmarks, have held a special role as the artistic center of the industry since its earliest days, so to restore what has been lost is to preserve its own history.