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☆ The Young LVMH Heir Turning TAG Heuer Into a Billion-Dollar Brand
▼ + stars: | 2023-05-14 | by ( Nick Kostov | Stacy Meichtry | ) www.wsj.com time to read: 1 min

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.

☆ The 28-Year-Old LVMH Heir Turning TAG Heuer Into a Billion-Dollar Brand
▼ + stars: | 2023-05-14 | by ( Nick Kostov | Stacy Meichtry | ) www.wsj.com time to read: 1 min

☆ Factbox: Warren Buffett, Berkshire Hathaway at a glance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +8 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File PhotoMay 4 (Reuters) - Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N). Susan Buffett and Howard Buffett are Berkshire directors. His Berkshire stock will go to philanthropy after he dies. (Interview with CNBC, April 12, 2023)Abel on Berkshire managers' relationship with him: "It's not the same as working for Warren.

☆ Luxury goods giant LVMH becomes the first European company to surpass $500 billion in market value
▼ + stars: | 2023-04-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

A pedestrian carries a Louis Vuitton shopping bag, from a store operated by LVMH Moet Hennessy Louis Vuitton SE, on New Bond Street in London, U.K., on Wednesday, Oct. 21, 2020. Luxury goods giant LVMH on Monday became the first European company to surpass $500 billion in market value. Its shares hit a record high following the results, and hit another high on Monday. It reported revenue of 79.2 billion euros ($87.1 billion) for 2022, with profit from recurring operations of 21.1 billion euros — its second consecutive year of record results. In 2021, LVMH completed the acquisition of U.S. jeweler Tiffany & Co for $15.8 billion.

Bernard Arnault is the world's richest man, with a net worth of $212 billion. Arnault controls the massive luxury conglomerate LVMH Moët Hennessy Louis Vuitton. All of Arnault's children work at LVMH brands, including Louis Vuitton, Berluti, and TAG Heuer. Along the way, Arnault has brought his five adult children into the fold, building a family-run business that has resulted in the world's largest fortune. Here's how Arnault got his start and became the richest person in the world.

☆ Elon Musk's wealth drops by nearly $13 billion — the biggest slide this year — after Tesla's share prices slumped and SpaceX's Starship rocket exploded
▼ + stars: | 2023-04-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Musk's net worth fell by $12.6 billion to $164 billion on Friday, per Bloomberg Billionaires Index. That's after Tesla share prices slumped on a 24% on-year decline in profit. The slide in Musk's net worth tops a chaotic week. Tesla's share price closed 9.8% lower at $162.99 on Thursday. Tesla's share price was up 0.1% in after-hours trade.

☆ The World’s Richest Person Auditions His Five Children to Run LVMH, the Luxury Empire
▼ + stars: | 2023-04-19 | by ( Nick Kostov | Stacy Meichtry | ) www.wsj.com time to read: 1 min

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.

☆ China's economy is on the rebound — and that's good news for 3 of the Club's consumer stocks
▼ + stars: | 2023-04-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Estee Lauder (EL), Starbucks (SBUX) and Wynn Resorts (WYNN) are the Club's consumer discretionary stocks with the greatest exposure to the Chinese market. Shares of Estee Lauder, Starbucks and Wynn — up roughly 3.5%, 9.2% and 37.5% year-to-date, respectively — edged up on the news Tuesday. For Estee Lauder, a leader in luxury skin care, makeup and fragrances, China accounts for about a third of total revenue. The Club's take China's latest economic data highlights our investment case for our three big consumer companies doing business in the country. However, we're pleased to see a robust rebound in consumer activity in the world's second largest economy, signifying a positive growth outlook for Estee Lauder, Starbucks and Wynn Resorts.

☆ The World Is Volatile but Luxury Brands Look Serene
▼ + stars: | 2023-04-15 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Hermès is among the three luxury-goods companies that together snagged the majority of incremental revenue in 2022. In a world coping with inflation, war and bank runs, it seems counterintuitive that demand for luxury is still running hot. Yet in recent days, two big designer brands reported bumper first-quarter sales. Paris-listed Hermès said its revenue grew 23% from a year earlier in the three months through March, ahead of the 13% analysts were expecting. At LVMH Moët Hennessy Louis Vuitton—owned by Bernard Arnault , the world’s wealthiest person—sales grew 17% in the same period.

☆ The stock market rally in 2023 has added $213 billion to the wealth of the world's top 10 billionaires
▼ + stars: | 2023-04-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

A strong start to the stock market this year has helped reverse some of the big losses billionaires saw in 2022. So far this year, the world's top 10 billionaires added a collective $213 billion to their net worth. MARTIN BUREAU/AFP via Getty ImagesNet Worth: $92.8 billion2023 Gain: $21.3 billionSource of Wealth: L'Oreal9. Elon MuskElon Musk Gilbert Carrasquillo/GC ImagesNet Worth: $180 billion2023 Gain: $43.2 billionSource of Wealth: Tesla, SpaceX, Twitter1. Bernard ArnaultEric Piermont/Getty ImagesNet Worth: $210 billion2023 Gain: $47.8 billionSource of Wealth: LVMH Moet Hennessy Louis Vuitton

☆ Club meeting recap: Jim Cramer says Wells Fargo is a buy following a first-quarter earnings beat
▼ + stars: | 2023-04-14 | by ( Christopher Alessi | In | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Equities fall Buy Wells Fargo Watch Estee Lauder 1. Buy Wells Fargo Club holding Wells Fargo (WFC) on Friday delivered a beat on first-quarter revenue and earnings, while reiterating its full-year guidance for net interest income and expenses. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ LVMH CEO Bernard Arnault's wealth soared to a record high of $210 billion on the same day protestors swarmed the company's headquarters in Paris
▼ + stars: | 2023-04-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

LVMH boss Bernard Arnault's fortune soared by $12 billion on Thursday to a record high of $210 billion, per Bloomberg. LVMH shares hit a record high in Thursday trade after a strong first-quarter earnings report. On Thursday, LVMH shares price on the Euronext Paris stock exchange hit a record high of 884.50 euros, or $979, before closing 5.7% higher at 883.90 euros a piece. LVMH's Arnault has featured frequently in protest slogans and chants, per Reuters on Thursday. LVMH shares are extending gains on Friday, trading 0.7% higher at 889.90 euros at 9:57 a.m. in Paris.

☆ A flurry of news outside the portfolio has implications for 3 of our stocks
▼ + stars: | 2023-04-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Here are three noteworthy news developments over the past two days, which contain useful insights about our stocks. For the full year 2023, Novo now expects sales growth in the range of 24% and 30%, compared to prior estimates of 13% to 19%. In addition, operating profit growth is expected to be in the range of 28% and 34%, up from a prior range of 13% to 19%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Companies Urged to Take Stock of Their Impact on Nature and Related Risks
▼ + stars: | 2023-03-28 | by ( Joshua Kirby | ) www.wsj.com time to read: +5 min

“We used to think of nature as an endless supplier of resources into our business practices,” he said. “We’re trying to shift the conversation around the nature of the relationship between nature and business.”The final framework should give priority to the end result in natural areas, said Kat Bruce, founder and director of environmental-DNA startup NatureMetrics. Some $44 trillion of global economic value is moderately or highly dependent on nature, according to the World Economic Forum. Companies and shareholders should pay more attention to the material risk of natural degradation, Mr. Goldner said. The draft framework includes sector-specific guidance for areas including agriculture, mining, energy and financial services.

☆ A luxury buying spree is sending shares of companies like Gucci owner Kering and Hermes soaring
▼ + stars: | 2023-02-16 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +2 min

Shares of Kering and Hermes are up 17% and 23% year-to-date, partly on optimism around China's reopeningShares of LVMH hit an all-time high of $176.13 earlier this month. Kering, Hermes, and LVMH helped lead the French CAC 40 to a record high on Thursday. Shares of LVMH Moët Hennessy Louis Vuitton, commonly known as LVMH, hit an all-time high of $176.13 earlier this month. Kering, Hermes, and LVMH made up a third of the French CAC 40 index's 14% gain this year, which helped propel the benchmark index to a record high on Thursday. The CAC 40 is outperforming the Stoxx Europe 600 Index, which has increased about 9% year-to-date as well.

☆ Louis Vuitton’s Formula for World Domination
▼ + stars: | 2023-02-11 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

PARIS—Louis Vuitton constructed a vast makeshift warehouse in the courtyard of the Louvre to house its recent menswear show. Hundreds of K-pop fans trying to get a glimpse of star Jung Hoseok , better known as J-Hope from BTS, lined the streets. The guest list was designed to attract global attention: Hong Kong pop singer Jackson Wang , Los Angeles rapper Tyga and Mia Khalifa , a Lebanese-born pornographic actress turned social-media influencer. J-Hope, Usher and “Emily in Paris” actor Lucien Laviscount took their front-row seats not far from Bernard Arnault , the chairman and chief executive of LVMH Moët Hennessy Louis Vuitton SA, together with his wife and four of his five children, all of whom work for the company.

☆ Louis Vuitton’s Owner Is Still Reading China’s Tea Leaves
▼ + stars: | 2023-01-27 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Luxury brands have a lot riding on how Chinese shoppers behave as they emerge from Covid-19 lockdowns. The industry’s most powerful company can’t give a clear read on their mood yet. On Thursday, Paris-based LVMH Moët Hennessy Louis Vuitton reported its second consecutive year of record annual sales and profit. The company’s most important brand, Louis Vuitton, passed the €20 billion sales milestone for the first time in 2022, equivalent to $21.78 billion at Thursday’s exchange rate. LVMH founder and world’s richest man Bernard Arnault also gave an update on progress at Tiffany & Co. Operating profit at the U.S. jewelry brand have doubled since LVMH paid $16 billion for it in 2021 in the luxury industry’s most expensive takeover to date.

☆ Investors are piling the most cash into European stocks in nearly as year as recession outlook fades
▼ + stars: | 2023-01-27 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

European stock funds drew in $3.4 billion last week, the largest inflow since early 2022. Investors want exposure to the euro area as it looks increasingly likely it will avoid a recession. Investors poured in $3.4 billion into European equity funds over the past week, Bank of America said in its Flow Show note published Friday. But demand has been weaker than anticipated, leading to a roughly 70% crash from highs for natural gas prices. EU Economic Commissioner Paolo Gentiloni said this week there's "a chance to avoid a deep recession," for the bloc.

☆ LVMH Looks to Renewed China Luxury Spending for Earnings Bump
▼ + stars: | 2023-01-26 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Louis Vuitton collaborated with Japanese artist Yayoi Kusama for a new collection. Demand for LVMH’s brands has been strong despite the pandemic and inflation. PARIS— LVMH Moët Hennessy Louis Vuitton SE is scheduled to report fourth-quarter and full-year 2022 results later Thursday, as it rides a surge of demand for luxury goods that China’s recently loosened Covid-19 restrictions could extend into this year. Postpandemic demand for LVMH’s dozens of brands, including fine wine, jewelry and fashion labels and upscale hotels, has cemented the group’s position as the most valuable listed company in Europe. It has also helped its chief executive and controlling shareholder, Bernard Arnault , overtake Elon Musk as the world’s richest person.

☆ Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning
▼ + stars: | 2023-01-26 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Luxury giant LVMH said China's wealthy consumers have started returning to stores after the country's reopening and it remains optimistic about the year ahead. "We have every reason to be confident, indeed optimistic on China," LVMH CEO Bernard Arnault said during the company's earnings presentation. Bain & Co estimates that global luxury sales grew 22% in 2022, to over $380 billion, with the U.S. replacing China as the top market. Even if China rebounds, growth in luxury sales is likely to be slower this year. Bain estimates global sales could grow between 3% and 8% in 2023, depending on China's reopening and the U.S.

☆ Luxury Tycoons Leave Big Shoes to Fill
▼ + stars: | 2023-01-19 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Bill Gates and Jeff Bezos handed the running of their companies to skilled industry executives. The billionaire founders of the world’s top luxury groups are more clannish, so investors need to watch the family. The bosses of several big luxury businesses are now in their eighth decade, including the world’s richest man, LVMH Moët Hennessy Louis Vuitton founder Bernard Arnault , Cartier owner Johann Rupert and the husband-and-wife team at the top of Prada , Miuccia Prada and Patrizio Bertelli . The brothers behind privately held Chanel, Alain and Gerard Wertheimer , are also in their 70s.

☆ LVMH Shuffles Leadership at Louis Vuitton, Dior
▼ + stars: | 2023-01-11 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

LVMH said Pietro Beccari, who currently head’s Christian Dior, will lead Louis Vuitton from next month. PARIS— LVMH Moët Hennessy Louis Vuitton SE Wednesday announced a major reshuffle of its top executives, elevating Pietro Beccari to lead Louis Vuitton and tapping Delphine Arnault , daughter of Chief Executive Bernard Arnault , to run Christian Dior . The changes, effective Feb. 1, involve the luxury giant’s two largest brands and some of its best-known managers. Both Louis Vuitton and Dior have been on a tear, most recently riding a postpandemic boom in luxury spending that so far has shown little sign of easing.

☆ LVMH names new Louis Vuitton CEO, puts Arnault daughter in charge of Dior
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

Pietro Beccari, who has been the head of Dior since 2018, is moving to replace long-time Louis Vuitton CEO Michael Burke, 65. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. [1/2] Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton SE, and Delphine Arnault, Executive Vice President of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men's Fashion Week in Paris, France, June 20, 2019. Alexandre Arnault, 30, is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is CEO of another group brand, TAG Heuer. The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton's watches division.

☆ LVMH's Arnault tightens family grip as daughter becomes Dior CEO
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

The world's largest luxury group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. Burke will continue to work with Bernard Arnault, the company said in a statement. The move follows the recent appointment of Antoine Arnault, Bernard Arnault's eldest son, to head the family holding company, replacing veteran executive Sidney Toledano. Alexandre Arnault, 30, is an executive at Tiffany & Co. while Frederic Arnault, 28, is CEO of TAG Heuer - both LVMH brands.

☆ European Luxury Shares Rise on Easing of Chinese Border Restrictions
▼ + stars: | 2022-12-27 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Chinese consumers are important for luxury-goods companies such as Hermès, LVMH and Gucci. PARIS—Shares in European luxury retailers rose Tuesday on investor hopes of renewed Chinese tourist spending after Beijing said it planned to ease pandemic-related border restrictions. Luxury goods giant LVMH Moët Hennessy Louis Vuitton SE advanced as much as 2.5% in Paris while Kering SA, owner of the Gucci and Saint Laurent brands, rose as much as 2.2% and Birkin-bag maker Hermès International SCA advanced more than 2%. In Milan, shares in Moncler SpA, Tod’s SpA and Salvatore Ferragamo SpA also rose.

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