|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||393.30 - 397.19|
|52 Week Range||272.30 - 436.50|
|Beta (3Y Monthly)||0.76|
|PE Ratio (TTM)||28.36|
|Forward Dividend & Yield||4.72 (1.20%)|
|1y Target Est||N/A|
The console-crusher’s appetite for destruction appears to have been triggered by the pre-launch hype for Genshin Impact — a fantasy adventure whose trailer offers an enticing banquet of flaming sabres, dragon-scorched villages and foe-laden castles. desperately needs more games such as Genshin Impact for its PS4 to make inroads in China, it was given a prominent section of Sony’s giant booth at the four-day fair.
For the past decade, China has driven global demand. While the West fretted over fiscal deficits and, in turn, outsourced economic policy to its central banks, the People’s Republic has repeatedly turned on the fiscal taps, fueling a bull market in commodities, consumer goods and overpriced perishables. As any fashion aficionado will tell you, the luxury goods sector has been one of the main beneficiaries of Sino-spending -- with Louis Vuitton handbags, Moët champagne and Burberry coats flying off the shelves in metropolitan centres.
(Bloomberg Opinion) -- For luxury brands, worries about Chinese politics have switched this week from the impact of Hong Kong street protests to the output of their own design studios. In the space of a couple of days, Versace, Coach and Givenchy have all had to apologize for failing to respect the country’s territorial integrity. The offending garments were t-shirts that listed Hong Kong, Macau and Taiwan as separate from China. Beijing wasn’t amused, and neither were lots of social media users who threatened boycotts of the western fashion houses. Liu Wen, a Chinese Supermodel, ended her brand ambassador relationship with Coach – which is owned by the U.S. firm Tapestry Inc.Putting aside where you might stand on Beijing’s intentions toward Taiwan, it’s surprising for big global companies (Givenchy is owned by France’s LVMH Moet Hennessy Louis Vuitton SE and Versace by the U.S.-listed Capri Holdings Ltd) to make a diplomatic gaffe like this given China’s increasing touchiness on this subject. After all, they have legal teams and public affairs departments who should be on top of potential political pitfalls and any incidents that emerge elsewhere in the industry.In fairness, it’s difficult when you’re running complex organisations that span creative and corporate functions. It can be hard to keep tabs on every garment produced for every catwalk show or department store. But the fashion industry has picked up a habit of annoying Chinese shoppers. The Italian fashion house Dolce & Gabbana caused outrage last year when it ran a promotional video showing a Chinese model struggling to eat spaghetti with chopsticks.All of this suggests the luxury groups need to employ people with oversight of their creative teams who have a proper understanding of the places in which they operate. Ben Cavender, managing director of China Market Research Group, goes further, saying that companies should appoint a “chief culture officer” to combat the industry’s recurrent problems.The western companies are reliant on Asia for much of their profits. Chinese consumers are by far their biggest customers, accounting for about one-third of total spending on luxury goods. Coach owner Tapestry gets 12% of its sales from greater China, while LVMH gets 33% from Asia, when excluding Japan.Chinese shoppers are also extremely active on social media, so campaigns against particular labels are potentially very damaging. The research firm Gartner L2 found that Dolce & Gabbana’s Chinese social media engagement fell 98% in the first quarter of 2019 after the spaghetti outcry.The t-shirt controversy is badly timed given that the luxury companies are already having to manage the impact of the Hong Kong protests on their sales in the city. The protests have shut stores and deterred Asian shoppers from travelling there, with the airport brought to a standstill this week (bad news too for duty-free purchases). Hong Kong by itself remains a significant market for high-end goods, accounting for between 5% and 10% of global luxury sales, according to analysts at Bernstein. With sensitivities running so high, and sales channels already so challenged, the big brands have little margin for error. Beijing’s demands this week that Cathay Pacific Airways Ltd. bar any air crew who supported the Hong Kong protests from working on China flights shows how far the political situation is starting to affect business. This is a moment for careful management.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(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.
Paris, 24 July 2019 LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of 25.1 billion euros in the first half of 2019, up 15%..
The luxury goods executive has displaced Microsoft Co-Founder Bill Gates as the second wealthiest person in the world.
July 15th, 2019 Stella McCartney and LVMH have reached an agreement to further develop the Stella McCartney House. The new partners will detail the full scope of this deal in.
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.
Moody's Investors Service has today assigned a first-time A1 long-term issuer rating and Prime-1 (P-1) short-term issuer rating to leading French luxury goods group LVMH Moët Hennessy Louis Vuitton SE (LVMH). Moody's has also assigned an A1 rating to LVMH's senior unsecured notes and a (P)A1 rating to its medium-term notes program.
Paris, 1 July 2019 On 28 June 2019, LVMH Moët Hennessy-Louis Vuitton S.E. (« LVMH ») entered into a revised liquidity contract with ODDO BHF SCA, relating to the LVMH shares.