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Louis Vuitton Doubles Down on Chinese Consumers
  + stars: | 2023-12-01 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
HONG KONG—For one night only, this city’s famed promenade along the waterfront was converted into a sandy shoreline. Louis Vuitton, the Parisian luxury powerhouse, staged a glitzy fashion show in Hong Kong Thursday evening, with a front row studded with Chinese celebrities, music by the brand’s menswear creative director Pharrell Williams and models marching along the fabricated seaboard in sailor uniforms and surfer wetsuits. The blowout affair—Louis Vuitton’s first show in Hong Kong—asserted LVMH’s commitment to courting Chinese shoppers and projecting confidence in what is one of the world’s largest markets for luxury goods.
Persons: Louis Vuitton, Pharrell Williams, wetsuits, — Louis Vuitton’s, Hong Kong — Locations: HONG KONG, Louis, Hong Kong
LVMH to Buy Eyewear Brand Favored by the Stars
  + stars: | 2023-11-05 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
Bernard Arnault, head of LVMH, has a net worth larger than those of Elon Musk and Jeff Bezos. WSJ’s Nick Kostov explains how the French business magnate amassed his fortune and how he plans to keep that wealth under family control. Photo: Nicholas Kamm/Agence France-Presse/Getty ImagesPARIS— LVMH Moët Hennessy Louis Vuitton has agreed to buy Los Angeles-based eyewear maker Barton Perreira , part of the luxury conglomerate’s push to extend its reach to goods with mass-market appeal. Eyewear has emerged in recent years as one of the first purchases that aspiring luxury consumers make before moving on to more expensive items such as handbags. That is prompting LVMH and other luxury-goods companies to wean themselves off licensing agreements with third-party manufacturers and develop in-house eyewear operations.
Persons: Bernard Arnault, Elon Musk, Jeff Bezos, Nick Kostov, Nicholas Kamm, LVMH Moët Hennessy Louis Vuitton, Barton Perreira, LVMH Organizations: Agence France, PARIS Locations: Los Angeles
Jean Arnault was standing in a gilded, mirrored room of Paris’s Musée d’Orsay showing off Louis Vuitton’s newest watch model to a clutch of experts one July morning. The thin unisex watch, named the Tambour, was the result of almost two years of work. But the most valuable Tambour in the building wasn’t on display with the others. His version was made of a rare metal, tantalum. “We’re only going to make one,” Arnault said.
Persons: Jean Arnault, Louis, We’re, ” Arnault,
Sales Slow at Louis Vuitton’s Owner as China Sputters
  + stars: | 2023-10-10 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/sales-slow-at-louis-vuittons-owner-as-china-sputters-6fc468a4
Persons: Dow Jones Organizations: louis
Jean Arnault Has New Goals for Louis Vuitton Watches. Profit Isn’t One of Them. The youngest son of Bernard Arnault is taking a risk at the LVMH brand: Making a more expensive product—and making it harder to find. “We’re not going to make a ton of money with this. It’s not going to be highly profitable at all, but it’s really about making sure that we switch the message,” says Jean Arnault of the brand’s new strategy.
Persons: Jean Arnault, Louis Vuitton, Bernard Arnault, “ We’re, It’s,
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/europe/lvmh-ceo-arnault-is-subject-of-french-probe-over-deal-with-russian-businessman-c6c76940
Persons: Dow Jones
Italy Defined Fashion. Then It Got Old.
  + stars: | 2023-09-09 | by ( Nick Kostov | Stacy Meichtry | ) www.wsj.com   time to read: 1 min
MILAN—A sculpture of a giant pencil loomed over a recent menswear collection that Giorgio Armani sent down the runway. The Italian designer was on the cusp of his 89th birthday, and after the show he ambled over to the pencil, which was emblazoned with his name, and wrapped his arm around it.
Persons: MILAN, Giorgio Armani Locations: Italian
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/media/billionaire-french-luxury-tycoon-pinault-buys-stake-in-caa-2c22b0fc
Persons: Dow Jones Organizations: caa
Gucci-Owner Kering Buys Stake in Valentino
  + stars: | 2023-07-27 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/gucci-owner-kering-buys-stake-in-valentino-b6a1a109
Persons: Dow Jones, b6a1a109
Americans Are Buying Less Bling
  + stars: | 2023-07-25 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/lvmh-posts-sharp-rise-in-sales-profit-amid-luxury-boom-d47547df
Persons: Dow Jones
Bernard Arnault, head of luxury-goods conglomerate LVMH, has a net worth larger than that of Elon Musk and Jeff Bezos. WSJ’s Nick Kostov explains how the French business magnate amassed his fortune and how he plans to keep that wealth under family control. Photo: Nicholas Kamm/Agence France-Presse/Getty ImagesOne of the great basketball questions of the year was finally answered on Thursday evening at the NBA draft. No, not if Victor Wembanyama, the 7-foot-4 French sensation, would be the No. But what would the most-hyped basketball prodigy since LeBron James wear to his coronation?
Persons: Bernard Arnault, Elon Musk, Jeff Bezos, Nick Kostov, Nicholas Kamm, Victor Wembanyama, LeBron James Organizations: Agence France, NBA
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/gucci-owner-to-buy-perfume-maker-creed-1cc0c8ab
Persons: Dow Jones
Gucci Owner to Buy Perfume Maker Creed
  + stars: | 2023-06-26 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/gucci-owner-to-buy-perfume-maker-creed-1cc0c8ab
Persons: Dow Jones
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/the-missing-titanic-explorers-who-is-aboard-the-submersible-d1caa9ec
Persons: Dow Jones
GENEVA—Among the many luxury labels that form LVMH Moët Hennessy Louis Vuitton lies an upper-echelon of brands that generate more than $1 billion in annual revenue, driving the conglomerate’s business. Frédéric Arnault —chief executive officer of TAG Heuer and the third son of LVMH’s top boss, Bernard Arnault —said the Swiss watchmaker is about to join those ranks.
GENEVA—Among the many luxury labels that form LVMH Moët Hennessy Louis Vuitton lies an upper-echelon of brands that generate more than $1 billion in annual revenue, driving the conglomerate’s business. Frédéric Arnault —chief executive officer of TAG Heuer and the third son of LVMH’s top boss, Bernard Arnault —said the Swiss watchmaker is about to join those ranks.
As a young tycoon living in New York in the 1980s, Bernard Arnault quickly realized some of the most valuable real estate was located on the corner of Fifth Avenue and 57th Street. When he bought the building that houses the Louis Vuitton flagship store on the northeast corner, he got a close-up view of Tiffany & Co. across the street to the south. “We said, maybe at one point we’ll have more than one corner,” Mr. Arnault said in a rare interview from the glass-enclosed top floor of Tiffany’s newly renovated store, where he could gaze out and survey his domain. He now has three.
Gucci Offices Raided by Antitrust Authorities in Europe
  + stars: | 2023-04-20 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
Raids by the European Commission are part of growing antitrust scrutiny in Europe of one of the continent’s most valuable sectors, fashion. Photo: Alessia Pierdomenico/Bloomberg NewsEuropean antitrust authorities raided the Italian offices of the Gucci fashion house this week, part of a probe the company said was focused on potential anticompetitive behavior in the fashion sector. Gucci owner Kering SA disclosed the search late Wednesday after the European Commission said earlier in the week that it had conducted unannounced inspections at several fashion companies. The commission said it was probing whether the companies had violated rules that “prohibit cartels and restrictive business practices.”
Gucci Offices Raided By Antitrust Authorities in Europe
  + stars: | 2023-04-20 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
Raids by the European Commission are part of growing antitrust scrutiny in Europe of one of the continent’s most valuable sectors, fashion. Photo: Alessia Pierdomenico/Bloomberg NewsEuropean antitrust authorities raided the Italian offices of the Gucci fashion house this week, part of a probe the company said was focused on potential anticompetitive behavior in the fashion sector. Gucci owner Kering SA disclosed the search late Wednesday after the European Commission said earlier in the week that it had conducted unannounced inspections at several fashion companies. The commission said it was probing whether the companies had violated rules that “prohibit cartels and restrictive business practices.”
PARIS—Once a month, Bernard Arnault gathers his children for lunch inside a private dining room at the headquarters of LVMH Moët Hennessy Louis Vuitton SE, his globe-spanning luxury goods company. The meal, which lasts exactly 90 minutes, begins with the French billionaire reading aloud discussion topics he has prepared on his iPad, according to people close to him. Mr. Arnault then goes around the table, asking each of his five adult children for advice. He’ll seek an opinion on specific managers at the company, the people said, or whether it’s time for a shake-up at one of LVMH’s myriad brands, which stretch from the champagne vineyards of France to handbag-making workshops in Italy and Texas.
LVMH’s Paris Headquarters Stormed by Protesters
  + stars: | 2023-04-13 | by ( Nick Kostov | Stacy Meichtry | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/lvmh-headquarters-stormed-by-protesters-amid-demonstration-against-macrons-pension-overhaul-1ffd751d
LVMH Boosted by Rebound in Luxury Spending in China
  + stars: | 2023-04-12 | by ( Nick Kostov | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/lvmh-boosted-by-rebound-in-luxury-spending-in-china-2d1f9fb5
Balenciaga presented a pared-down fashion show in Paris with a minimalist backdrop. PARIS—Balenciaga’s creative designer Demna mounted a toned-down fashion show on Sunday in a bid to turn the page on consumer outrage that engulfed the brand over its portrayal of children in its ads. Company executives had touted the show, Demna’s first since the controversy erupted, as an important moment to reset the brand’s image. Those gathered for the show under the pyramid of the Louvre in Paris saw a different side to the Georgian-born German national.
Louis Vuitton has long cultivated art-world connections to generate cultural cache for its products. PARIS—The Joan Mitchell Foundation has sent Louis Vuitton a letter demanding it pull advertisements for its handbags featuring paintings by the late American artist, saying the ad campaign was shot without the foundation’s permission. The cease-and-desist letter—which was sent Tuesday by the foundation’s lawyers to Louis Vuitton CEO Pietro Beccari and reviewed by The Wall Street Journal—alleges that Louis Vuitton illegally reproduced and used at least three works by artist Joan Mitchell for the promotion of its commercial goods.
What the Renault-Nissan Shakeup Says About the Global Auto Industry Renault CEO Luca de Meo and Nissan CEO Makoto Uchida spoke to The Wall Street Journal about the reorganization of their alliance in a deal that gives both companies more autonomy. WSJ’s Nick Kostov explains the factors behind the decision and what it means for auto makers and investors. Photo Composite: Adele Morgan
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