|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||78.85 - 79.69|
|52 Week Range||54.36 - 79.69|
|Beta (3Y Monthly)||0.71|
|PE Ratio (TTM)||28.57|
|Forward Dividend & Yield||0.91 (1.23%)|
|1y Target Est||N/A|
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.
On Monday evening guests arrived at the Château de Versailles near Paris to celebrate the reopening of the Queen’s Apartments after a three-year refurbishment. Soon the guests were hunched over their smartphones watching the medieval Gothic masterpiece in the centre of Paris engulfed in flames, as its burning spire crashed through the roof. “It was a moment of distress and sorrow,” says Elisabeth Ponsolle des Portes, who heads the Comité Colbert, the French luxury association.
Pledged donations from French billionaires, companies and ordinary citizens for the restoration of fire-ravaged Notre-Dame cathedral are approaching 900 million euros (780 million pounds) after just two days, a reflection of the landmark's resonance in the national psyche. People on social media, both in France and abroad, have expressed frustration that other disasters - from the Syrian and Iraq refugee crisis to the Grenfell Tower fire in London - have not received anything like the same degree of support. The first major donation to Notre-Dame came from Francois-Henri Pinault, the billionaire head of luxury goods group Kering that owns fashion brands Gucci and Saint Laurent.
Speculation over the stimulus swirled in the markets Wednesday, pushing up shares of domestic carmakers such as BYD Co. and automakers in Europe and the U.S. The Stoxx Europe 600 Automobiles & Parts Index rose as much as 2.1 percent, led by Volkswagen AG, Daimler AG and Faurecia SA. General Motors Co.. Apple Inc. climbed in the U.S., while Swedish home-appliance maker Electrolux AB also rose. China’s latest tactic indicates its leaders are stepping up attempts to support consumption and mitigate threats posed by trade tensions with the U.S. An ambitious tax reduction program is seeing some early signs of bearing fruit: retail sales expanded 8.7 percent in March to beat expectations, and first-quarter gross domestic product expanded more than economists estimated. The National Development and Reform Commission, which is said to have drafted the plan, didn’t immediately respond to a fax seeking comment.
PARIS (AP) — Two of France's richest men, long locked in a very public rivalry, are once again pitted against each other — this time over flashy and competing donations to rebuild Notre Dame.
The owners of Louis Vuitton and Gucci pledge more than €300 million to rebuild Notre Dame Cathedral, while energy company Total and other big businesses also say they will donate millions.
Kicking off a wave of donations in response to a call from President Emmanuel Macron for a fund-raising campaign, Francois-Henri Pinault, the chairman and chief executive officer of Gucci owner Kering SA, and his father, Francois Pinault, said Tuesday they would donate 100 million euros from their Artemis investment company. Cosmetics company L’Oreal SA and its principal shareholder, the Bettencourt Meyers family, will give 100 million euros, while the family’s charitable foundation will chip in another 100 million euros, the company said.
Two of France's richest people have pledged 300 million euros ($338.7 million) collectively to rebuild the Notre Dame Cathedral in Paris, which was severely damaged in a fire Monday night. François-Henri Pinault, whose Artemis holding company owns a controlling stake in luxury group Kering, pledged 100 million euros, while Bernard Arnault, chair of LVMH, gave 200 million euros.
The Pinaults, owner of the luxury conglomerate Kering, pledged €100m from the family holding company Artemis on Monday evening before the fire was even out. “Faced with such a tragedy, everyone wishes to restore life to this jewel of our heritage,” said François-Henri Pinault, chairman and chief executive of Kering.
Emerging from a Gucci store in Shanghai with a pair of $500 shoes, 25-year-old Xue Yueyue says worries about China’s economy will not affect her spending. Chinese consumers account for about a third of the world’s $1.2tn luxury goods sales, according to consultancy Bain, which predicts Chinese luxury sales will grow at a “mid teens” rate this year, down from 20 per cent last year. Much of that growth is driven by “new wealthy female consumers in their 20s who are purchasing for the first time”, said Erwan Rambourg, an industry analyst at HSBC, which predicts China luxury sales growth of 12 per cent, about half that of 2018.
From New York's Fifth Avenue to Paris' Place Vendome, Louis Vuitton sells its handbags at some of the world's swankiest locations - but the brand is increasingly betting on "pop-ups" in off-beat spots as one way to keep shoppers hooked. The label, which drives the bulk of sales and profits at French luxury group LVMH, plans to hold 100 temporary events to sell its wares this year, up from 80 last year, the conglomerate's financial director said on Thursday. "This is the privileged way and the main way to drive innovation," Jean-Jacques Guiony told analysts after the conglomerate posted a pick-up in first-quarter sales, beating analyst forecasts.
French central bank head Francois Villeroy de Galhau said that the euro zone was not in the situation of Japan and that the ECB was "not short of ammunition" to accelerate price growth and buoy the economy. Villeroy's comments reassured the market and helped investor sentiment as they showed "the institution is willing to give the region assistance, if needed," David Madden, market analyst at CMC Markets UK, wrote in a note. Banks, down 0.3 percent on Wednesday following ECB comments which failed to impress investors, more than recovered with a 1.3 percent gain.
LVMH shares hit a record high on Thursday and buoyed those of rivals after the Louis Vuitton owner posted strong first-quarter sales and said that demand for its handbags and high-end fashion had picked up in mainland China. The group, which owns other labels including Christian Dior and Krug champagne, is setting a high bar for rivals chasing the same clientele, though not all are benefiting equally as Chinese spending shifts from overseas shopping capitals to home. LVMH's solid momentum, however, was still sufficient to lift stocks across the sector despite fears of a souring Chinese economy.
The owner of the Louis Vuitton, Fendi and Christian Dior brands said after the close of trading Wednesday the environment was “buoyant” at the beginning of the year, despite geopolitical uncertainties. The stock surged as much as 4 percent, to the highest level since LVMH went public in 1989, boosting peers across Europe, from Kering SA to Swatch Group AG and Moncler SpA. “The choice of opening words is more bullish than we would have expected it to be,” Melanie Flouquet, an analyst at JPMorgan Chase & Co., wrote in a note.
The Frenchman, whose fortune has increased by more than $19 billion in 2019, is rubbing shoulders with Bill Gates and Warren Buffett in the Bloomberg Billionaires Index, with a net worth of more than $87 billion. LVMH shares rose as much as 4 percent Thursday to 342.80 euros, the highest level since the stock was listed in October 1989, propelling the company’s market value close to $200 billion. The luxury conglomerate’s first-quarter sales report showed its strategy of tapping hip new design talents such as Virgil Abloh has reignited interest in its biggest brands.
European shares slipped on Thursday as investor sentiment was dented by global growth slowdown fears but gains in France thanks to strong earnings helped set a lower limit to the broader decline. The U.S. Federal Reserve maintained its patient stance on Wednesday citing risks from a cooling global economy and an unresolved trade dispute with China and potentially the European Union, which came shortly after the European Central Bank had also maintained its dovish stance. Ireland's Brexit-sensitive ISEQ stock index was flat after the European Union gave British Prime Minister Theresa May until October to leave the bloc, but the lack of clarity on when, how or even if Brexit will happen, kept a lid on gains.
Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. Historically, LVMH Moët Hennessy - Louis Vuitton, Société Européenne (E...
Louis Vuitton owner LVMH on Wednesday set a high bar for rival luxury goods companies all trying to capitalise on Chinese demand for high-end handbags and clothing, as sales growth at the conglomerate picked up pace in the first quarter. LVMH - which cited a "buoyant environment" at the start of the year and said all regions were experiencing "good growth" - has been one of the big beneficiaries of thriving appetite among younger Chinese shoppers for branded goods. The French conglomerate, which owns other labels like Christian Dior in fashion or Krug in champagne, was boosted by a strong performance in its leather goods unit, while sales of spirits like cognac improved from a quarter earlier.