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☆ Eat, sleep, live luxury: LVMH is building whole cityscapes centered on their designer stores
▼ + stars: | 2024-04-28 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +5 min

Luxury powerhouse LVMH is investing billions in real estate, The Wall Street Journal reported. Michael Burke, head of LVMH Fashion Group, told the Journal, "We're creating a city." According to the Journal, the company spent $2.1 billion last year acquiring properties in Paris ahead of the Olympic games. Related storiesThe luxury brand is among several spending billions on luxury stores and experiences. Chanel and LVMH are also interested in purchasing properties on New York's Fifth Avenue and the Champs-Élysées in Paris, the Journal reported.

Persons: —, Louis Vuitton Moët Hennessy, Louis Vuitton, Frank Gehry, Michael Burke, we're, Burke, Bernard Arnault, Saint Laurent, Chanel, LVMH, Amar Sitayeb, Saint, Alan DeSousa Organizations: Street Journal, Service, Wall Street Journal, Dior, LVMH, Design, Miami Design District, Gucci, Montenapoleone, The New York Times, Times, Canada, Laurent, Global News, Business Locations: Paris, Pont Neuf, Miami, Montreal, Milan's, New, The, Marais

NEW YORK, Nov 29 (Reuters) - Shares of German sandal maker Birkenstock (BIRK.N) extended their gains on Wednesday, hitting the initial public offering price for the first time, following a buoyant holiday shopping season. The company's shares opened at $41 on Oct. 11 and have traded below the IPO price of $46 and dropped to as low as $35.83 just days after listing. The median price target of the 17 analysts covering Birkenstock is $47.21 and the current recommendation is "buy", according to LSEG data. Birkenstock is heavily shorted, with 5.71 million shares worth roughly $259 million having short interest, according to data and analytics firm Ortex. About 32.3 million shares were sold on the IPO.

Persons: Bernard Arnault, Louis Vuitton Moet Hennessy, Chibuike Oguh, Medha Singh, Lance Tupper, Lisa Shumaker Organizations: Birkenstock, Arm Holdings, U.S, Thomson Locations: Birkenstock, French, New York, Bengaluru

☆ Birkenstock's stock loses footing in second day on Wall Street
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/ File Photo Acquire Licensing RightsOct 12 (Reuters) - Shares of Birkenstock (BIRK.N) dropped 6% on Thursday, deepening losses after the German luxury sandal seller stumbled the day before in its Wall Street debut. In its first session on Wall Street on Wednesday, Birkenstock tumbled over 12% from the $46 price set in its initial public offer, raising $1.48 billion. Last trading at about $37.79 on Thursday, the stock has now dropped 18% from its IPO price. The second-day drop in Birkenstock shares was deeper than a broad Wall Street sell-off, with the S&P 500 (.SOX) last down about 1%. Arm on Thursday slumped 5.2% to $51.70, just above its $51 IPO price on Sept. 13, while Instacart was down 1.7% at $24.52, well below its $30 IPO price on Sept. 18.

Persons: Toby Melville, Birkenstock, Instacart, Bernard Arnault, Louis Vuitton Moet Hennessy, Javier Gonzalez Lastra, Noel Randewich, Lance Tupper, Jonathan Oatis Organizations: REUTERS, SOX, Arm Holdings, Thomson Locations: London, Britain, U.S, French, Tema

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Based on the low end of the range, Birkenstock could be valued at as low as $8.5 billion. Their shares have, however, given up gains since going public, muddying the outlook for the IPO market. As of Tuesday's close, Instacart shares were 10% below their IPO price. The company had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30.

Persons: Fabrizio Bensch, Bernard Arnault, Louis Vuitton Moet Hennessy, Susannah Streeter, Hargreaves Lansdown, Margot Robbie, Barbie, Tommy Tranfo, Tranfo, Birkenstock, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Arm Holdings, Hargreaves, Reuters, Reuters Graphics, Thomson Locations: Berlin, Germany, French, Langen, Bengaluru

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. The company's IPO raised $1.48 billion after its 32.3 million shares were conservatively priced at $46 apiece, positioning the 250-year-old brand for a smooth market debut. "Arguably, this should position Birkenstock more favorably in an environment where real interest rates are high and still rising. Birkenstock had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30. The brand has partnerships deal with luxury fashion brands, including Dior, Stüssy, Manolo Blahnik and Rick Owens.

Persons: Fabrizio Bensch, Susannah Streeter, Hargreaves Lansdown, Birkenstock, Javier Gonzalez Lastra, France's Bernard Arnault, Louis Vuitton Moet Hennessy, Margot Robbie, Barbie, Michael Ashley Schulman, Tommy Tranfo, Tranfo, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Hargreaves, Arm Holdings, Tema, Reuters Graphics, Running, Capital Advisors, Thomson Locations: Berlin, Germany, Langen, Bengaluru

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsNEW YORK, Oct 10 (Reuters) - German premium footwear maker Birkenstock Holding (BIRK.N) priced its U.S. initial public offering (IPO) at the middle of its indicated price range at $46 per share, the company said on Tuesday. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers. After the IPO, L Catterton will hold an 82.8% stake in Birkenstock and control a majority of the combined voting power of its outstanding shares. Birkenstock's shares will start trading on Wednesday on the New York Stock Exchange under the ticker "BIRK".

Persons: Fabrizio Bensch, Birkenstock, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Anirban Sen, Echo Wang, Dimpal Gulwani, Lisa Shumaker Organizations: REUTERS, Birkenstock, underwriters, Arm Holdings, New York Stock Exchange, JPMorgan, Thomson Locations: Berlin, Germany, Langen, French, Birkenstock

Birkenstock would end up raising $1.58 billion at the top of the range. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. This helps explain why Birkenstock is not inclined to raise its IPO price range despite the strong initial investor demand. To leave less to chance, Birkenstock launched the roadshow for its IPO last week with some investors lined up. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers.

Persons: Birkenstock, Financière Agache, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Anirban Sen, Chris Reese Organizations: Birkenstock Holding, U.S, Arm Holdings, Nike Inc, Partners, Norges Bank Investment Management, Thomson Locations: New York, Langen, French, Birkenstock

☆ Islay: The wild remote island at the heart of a billion-dollar industry
▼ + stars: | 2023-06-16 | by ( Nell Lewis | ) edition.cnn.com time to read: +9 min

Islay’s single malt is known for its salty and smoky flavors, that transport you to the wild and windswept island. Part of the reason is that when it comes to an Islay single malt, the place and the taste are so deeply intertwined. The Glenmorangie CompanyIslay’s whisky industry has not always been a boon for the island. Islay has a population of around 3,000 people -- most are connected to the whisky industry. “Traditions are things that are handed down from one generation to another.”Everybody’s connected to the whisky industry.” Islay Heads, general manager at Kilchoman DistilleryLike most people on Islay, Heads has strong links to the spirit.

Persons: Distillery Jackie Thomson, ”, Thompson, “, Jackie Thomson, Louis Vuitton Moët Hennessy, Kilchoman, Ardnahoe, Port Ellen, NELL LEWIS, Anthony Wills, Wills, Kilchoman’s, Blair Bowman, Bowman, ’, Islay Organizations: CNN, Distillery, Tokyo Philharmonic Orchestra, Whisky Association, Asia –, Diageo, Louis, Islay, Kilchoman, Tourism Locations: Islay, Scotland’s, Kennacraig, Glasgow, Ardbeg, Australia, Ukraine, Netherlands, Germany, Denmark, Taiwan, Asia, Port, Scotland, Aberdeen Angus, Kilchoman, Machir

☆ Bank of America loves these 10 unloved global stocks with major upside
▼ + stars: | 2023-05-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America strategists have named the ten European stocks they believe are currently undervalued and could provide significant investment returns. These picks, which the investment bank refers to as the "Beat Factor Top 10," are primarily made up of industrial and financial companies. Bank of America analysts expect shares of Airbus to rise by 64% to 200 euros per share ($217) over the next 12 months. The "Beat Factor" is a measure Bank of America analysts use to identify the most divergent stock ideas on the FTSE Eurofirst 300. Despite the share price gains, Bank of America strategists remain bullish on the stock coming out of the earnings season.

☆ Pharrell selected to become LVMH's next men's creative director
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPharrell selected to become LVMH's next men's creative directorCNBC's Robert Frank joins 'Squawk Box' to discuss Louis Vuitton Moët Hennessy hiring Pharrell Williams to lead its creative direction, the brands big bet on Pharrell, and the shareholder response to the decision.

☆ Premarket stocks: Why traders are so infatuated with inflation
▼ + stars: | 2023-02-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

What’s happening: Investors will get some market direction clarity on Tuesday morning with the release of key inflation data. It’s not all about the Fed: Traders are infatuated with CPI, but it’s likely going to affect markets more than it will future Fed policy. “CPI is the big inflation report that affects markets more than any other,” he said. Even beyond housing, the services sector has seen year-over-year inflation higher than 3.9% every month since March 2021, said Chaudhuri. And as Powell noted in Washington last week, the stickiness of core services inflation is his greatest concern.

☆ LVMH-backed L Catterton aims to raise 2 billion yuan in first yuan-denominated fund
▼ + stars: | 2022-10-31 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

REUTERS/Thomas White/IllustrationBEIJING/HONG KONG (Reuters) -L Catterton, the private equity firm backed by luxury goods empire Louis Vuitton Moet Hennessy, said on Monday it aimed to raise 2 billion yuan ($275.44 million) for its first yuan-denominated fund, as it eyes early-stage investments in China. The new fund has raised “around 1 billion yuan” at first-close, a source familiar with the matter said. L Catterton declined to comment on a Reuters request. The first phase of the fund will be based in the southwestern Chinese city of Chengdu, according to the statement. ($1 = 7.2611 Chinese yuan renminbi)

☆ Forbes назвал самых богатых бизнесменов за последний год
▼ + stars: | 2021-04-06 | by ( ) nokta.md time to read: +1 min

За год его состояние выросло со 113 миллиардов долларов до 177 миллиардов. Год назад он был лишь 31-м в списке самых богатых бизнесменов, а его состояние составители рейтинга оценивали в 24,6 миллиарда долларов. Год назад Арно был на четвертом месте, а его состояние Forbes оценивал в 76 миллиардов долларов. Его состояние, по оценке Forbes, выросло с 3,4 миллиарда до 17,2 миллиарда долларов. Помимо ежегодного рейтинга Forbes отслеживает изменения состояний самых богатых бизнесменов мира в режиме реального времени.

Persons: Forbes, Tesla, Louis Vuitton Moet Hennessy, Джефф Безос, Илон Маск, Бернар Арно, Арно, Уоррен Баффет, Павел Дуров, Маск Organizations: Tesla SpaceX, Forbes

☆ Forbes опубликовал рейтинг самых богатых бизнесменов
▼ + stars: | 2021-04-06 | by ( ) newsmaker.md time to read: +1 min

Forbes опубликовал 6 апреля ежегодный рейтинг богатейших бизнесменов в мире . За год его состояние увеличилось со $113 млрд долларов до $177 млрд. Год назад он был лишь 31-м в списке самых богатых бизнесменов, а его состояние составители рейтинга оценивали в $24,6 млрд. Forbes отмечает, что общее состояние участников рейтинга, несмотря на пандемию и экономические проблемы по всему миру, увеличилось на рекордные $8 трлн, до $13,1 трлн. Для оценки состояния участников рейтинга были взяты за основу котировки принадлежащих им акций по состоянию на 5 марта.

Persons: — Louis Vuitton Moet Hennessy, Louis Vuitton Moet Hennessy, Forbes, Джефф Безос, Илон Маск, Бернар Арно, Арно, Билл Гейтс, Марк Цукерберг, Уоррен Баффет Organizations: Forbes, SpaceX, Microsoft, Facebook, Медуза

☆ Маск стал вторым богатейшим человеком планеты
▼ + stars: | 2020-11-24 | by ( Mld Media Srl | ) noi.md time to read: 1 min

Глава компаний SpaceX и Tesla Илон Маск поднялся на вторую строчку рейтинга богатейших людей планеты, свидетельствуют данные Bloomberg Billionaires Index (BBI), рассчитываемого агентством Bloomberg. Маск обошел основателя Microsoft Билла Гейтса, его состояние выросло до 127,9 миллиарда долларов, увеличившись за год на 100,3 миллиарда долларов. Капитал Гейтса оценивается в 127,7 миллиарда долларов, передает lenta.ru. На первом месте рейтинга остается основатель Amazon Джефф Безос, его состояние составляет около 182 миллиардов долларов. Также в пятерку самых богатых людей мира вошли президент Louis Vuitton Moët Hennessy Бернар Арно и основатель Facebook Марк Цукерберг, занявший пятое место.

Persons: SpaceX Tesla, Louis Vuitton Moët Hennessy, Илон Маск, Маск, Билл Гейтс, Гейтс, Джефф Безос, Бернар Арно, Марк Цукерберг Organizations: SpaceX, Bloomberg, Microsoft, Louis Vuitton Moët Hennessy Facebook

☆ Brandul Givenchy de la inceputuri...
▼ + stars: | 2020-11-03 | by ( ) www.realitatea.md time to read: +5 min

Istoria Givenchy pare să fie ruptă din basm, motiv pentru care Givenchy a devenit un brand atât de legendar. Hubert de Givenchy a descoperit lumea modei când era băiat la Expoziția mondială din Paris din 1937 și a știut imediat că și-a găsit chemarea. Givenchy a început lucrând ca asistent pentru designeri de modă celebri precum Jacques Fath, Christian Dior, Robert Piaget, Elsa Schiaparelli. Hubert a fost la început doar asistent, dar în timp a câștigat abilități și a devenit el însuși un designer excelent. În 1973, Givenchy a început să producă îmbrăcăminte pentru bărbați, care a găsit imediat un număr mare de persoane.

Persons: Hubert James Marcel Taffin, Givenchy, Hubert de Givenchy, Jacques Fath, Christian Dior, Robert Piaget, Elsa Schiaparelli . Hubert, Audrey Hepburn, Grace Kelly, Monaco, Jacqueline Kennedy Onassis, ducesa de Windsor, Rothschild, Louis Vuitton Moet Hennessy, Louis Vuitton ., John Galliano, Riccardo Tisci, Audrey Hepburn . Ea, Hubert, Couture, Haute Couture, Nicolas Degennes Organizations: Casei, Haute Locations: francez, Paris, Givenchy

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