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☆ Wall Street says Europe's a better bet than the U.S. right now — and names its top stock picks
▼ + stars: | 2023-01-30 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

European stocks are are having a good year so far. While the underperformance has been marginal, the outlook for U.S. stocks is decidedly more muted — Wall Street is still wary of a recession. European stocks are therefore worth a look in the near term, according to Bernstein, which expects more upside for them. Stock picks One of Bernstein's top plays is low leverage stocks, which the bank defines as stocks with a low net debt to equity ratio. Bank of America has a number of European picks with exposure to higher Chinese consumer spending and improving overall demand in light of China's reopening.

☆ 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'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.

☆ 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.

☆ 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.

☆ Investors See Shift in Europe’s Fortunes
▼ + stars: | 2022-12-07 | by ( Anna Hirtenstein | ) www.wsj.com time to read: 1 min

Investors are turning somewhat more positive on Europe, spurring a recovery in the region’s beaten-down stocks. As of Tuesday’s close, the benchmark Euro Stoxx 50 index had gained 18.6% this quarter, putting it on track for the best quarterly performance since 2009. The rise for the index, which includes eurozone blue chips like L’Oréal SA and LVMH Moët Hennessy Louis Vuitton SE , compares with a 9.9% gain for the S&P 500.

☆ Warehouse Packing Help Wanted, Excellent Penmanship Required
▼ + stars: | 2022-11-25 | by ( Paul Berger | ) www.wsj.com time to read: +5 min

At a warehouse in northern New Jersey one recent weekday, a trainee wearing a pair of blue gloves hesitantly tied a ribbon around one luxury brand’s box as a supervisor looked on. Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. Workers also personalize items with engraving and hot-stamping, compile individual items into gift sets and add handwritten notes. Luxury brands, however, are willing to pay a premium for the extra workers needed to provide additional services, Mr. Scattergood said. Workers at its Munich warehouse fold clothes in tissue paper, close the paper with a sticker and tie a ribbon into a bow.

☆ World's richest man Elon Musk's wealth has taken a $100 billion hit in 2022, thanks to plummeting Tesla shares
▼ + stars: | 2022-11-22 | by ( Britney Toh | ) www.businessinsider.com time to read: +2 min

Elon Musk's wealth has fallen $100.5 billion so far in 2022, per Bloomberg Billionaires Index. Even so, Musk is still the world's richest person with a fortune of $169.8 billion. The tech mogul draws most of his wealth from the stocks and ownership of Tesla, SpaceX, and most recently Twitter, per Bloomberg. According to the same index, Musk's net worth also eclipses that of Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates, by roughly $54 billion and $57 billion, respectively. Both Musk and Tesla did not immediately respond to Insider's requests for comment.

☆ Luxury’s Resilience Hasn’t Been Tested Yet
▼ + stars: | 2022-10-12 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Designer fashion brands are still in a gilded age. Even if investors have been too quick to question how long this can go on, the industry doesn’t have the all-clear. Shares in LVMH Moët Hennessy Louis Vuitton were up a mere 2% in early trading Wednesday despite another blockbuster quarter for the luxury bellwether’s 72 brands, which include Tiffany & Co. and Christian Dior . Over the three months through September, LVMH sales increased 19% versus a year ago, stripping out the impact of exchange rates. Analysts had expected a 14.5% rise.

☆ LVMH Sales Rise as U.S. Tourists Splurge in Europe
▼ + stars: | 2022-10-11 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

The company, with luxury brands including Christian Dior, said sales at its fashion and leather-goods division rose 27% in the latest quarter. PARIS— LVMH Moët Hennessy Louis Vuitton SE said Tuesday its third-quarter revenue rose 27% as U.S. tourists spent freely in Paris and other European capitals and Covid-19-related disruptions eased in China. LVMH posted revenue of €19.76 billion ($19.26 billion), beating expectations. The conglomerate’s fashion and leather-goods division—which accounts for almost half of its revenue—posted a 27% increase in sales to €9.69 billion for the three months ended in September.

More marketers are taking notice of California’s data privacy laws after the state said last month that cosmetics retailer Sephora had agreed to pay $1.2 million in penalties for alleged violations related to its targeted advertising practices. Some companies that have received letters have complied or begun working toward compliance, while others remain under investigation, the spokesperson said. Many companies delayed compliance because they disagree with that definition and don’t want to tell consumers that they sell data, he said. The state’s determination that Sephora didn’t process global opt-out requests played a key role in the attorney general’s decision to take action. “People see a headline about Sephora and everyone thinks they sold data,” she said.

, said in a statement that Drizly is one of the few places where her company can run multimedia ad campaigns. The database allows the company to charge above-market rates for ad placements, according to Mr. Patel. The company also hired Gina Hardy as its first chief customer officer to oversee all marketing operations. Mr. Patel declined to comment on specific growth goals for Drizly, but said the company sees significant potential in its advertising platform, which is independent of its parent company’s Uber Eats ad business. Drizly sales grew 517% from September 2019 to September 2021, according to market-research firm Bloomberg Second Measure.

☆ French luxury goods company LVMH invests in designers of color. Black creatives are cautiously optimistic about the impact.
▼ + stars: | 2022-09-10 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +7 min

A Harlem's Fashion Row event showcased creatives and designers of color. The Harlem's Fashion Row show is one of recent steps by LVMH to become more diverse and inclusive. Black creatives and fashionistas of color are cautiously optimistic, saying LVMH could set a new standard for an industry that's long had a problem with diversity. Harlem's Fashion Row CEO Brandice Daniel said the partnership with LVMH felt intentional and serious in nature. I think it's incredible that HFR and Black designers in general are getting this kind of support," Daniel, who is Black, said, referring to Harlem's Fashion Row.

☆ Bernard Arnault briefly unseated Elon Musk as the world's richest person. Here's how the LVMH chief exec created a luxury goods empire and amassed a $184.7 billion fortune.
▼ + stars: | 2021-04-27 | by ( Katie Warren | Avery Hartmans | ) www.businessinsider.com time to read: +2 min

Bernard Arnault surpassed Elon Musk as the world's richest person on Dec. 7 , according to Forbes, though the No. , according to Forbes, Arnault controls the massive luxury conglomerate LVMH Moët Hennessy - Louis Vuitton. Four of Arnault's children work at LVMH brands, including Louis Vuitton, Berluti, and TAG Heuer. Along the way, Arnault has brought four of his five adult children into the fold, building a family-run company that has resulted in the world's largest fortune. Here's how Arnault got his start and became one of the two richest people in the world.

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