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☆ LVMH takes on Rolex: Tag Heuer opens new flagship store in New York City
▼ + stars: | 2023-07-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLVMH takes on Rolex: Tag Heuer opens new flagship store in New York CityCNBC’s Robert Frank joins 'Squawk on the Street' to discuss LVMH's plan to take on luxury watch maker Rolex.

Persons: Robert Frank Organizations: Rolex Locations: New York City

☆ Elon Musk asks: 'If I'm so smart, why did I pay so much for Twitter?'
▼ + stars: | 2023-06-16 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Elon Musk said at a conference in Paris: "If I'm so smart then why did I pay so much for Twitter?" Musk also said he was worried Twitter was having a "corrosive" impact on society. That's what Elon Musk did on Friday at a conference in Paris, quipping: "If I'm so smart, why did I pay so much for Twitter then?" "I think if someone is a regular Twitter user, then most people would say their experience has improved," Musk said. In the case of Tesla the value of the company is primarily on the basis of autonomy."

Persons: Elon Musk, Musk, Twitter, Bernard Arnault, Antoine Arnault, Bernard, Antoine, I've Organizations: Twitter, Morning, Bloomberg, Getty, Tesla Locations: Paris, Blanc

☆ Potential Olympics sponsorship deal tests LVMH heir Antoine Arnault
▼ + stars: | 2023-06-14 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

Discussions on the Olympics deal, being negotiated by Antoine, revolve around promotions focused on LVMH as a group, its two biggest fashion labels - the Louis Vuitton and Dior brands - as well as champagne. However, the behind-the-scenes role of the oldest of Arnault’s four sons, Antoine, hasn't been widely known. Although Antoine Arnault's work shepherding LVMH's sponsorship of the Olympic Games is taking place behind closed doors, the outcome would be highly public. Steve Martin, global CEO of M&C Saatchi Sport & Entertainment, said that while LVMH is already associated with France, a formal sponsorship of the Olympics would help to further differentiate LVMH from luxury rivals. “If we get involved it would be to help out,” LVMH fashion group CEO Sidney Toledano told Reuters.

Persons: Antoine Arnault's, Antoine Arnault, Bernard Arnault's, Bernard Arnault’s, Delphine Arnault, Dior, Antoine, Louis Vuitton, Bernard Arnault, hasn't, Tony Estanguet, Cristiano Ronaldo, Lionel Messi, ”, Steve Martin, LVMH, Martin, Sidney Toledano, –, we’re, Toledano, Mimosa Spencer, Sharon Singleton Organizations: Deal, Dior, FIFA, Olympic, Saatchi Sport & Entertainment, Olympic Games, Reuters, Thomson Locations: PARIS, LVMH, Paris, France, Qatar, Atlanta, London

☆ How luxury giant LVHM built a recession-proof empire
▼ + stars: | 2023-05-18 | by ( Natalie Rice | ) www.cnbc.com time to read: +2 min

The company recorded revenue of 79.2 billion euros, or about $86.3 billion, last year, an increase of 23% from 2021 revenue. Some experts have long-hailed the company as "recession-proof," able to sustain itself through economic downturns and boasting products that uniquely appreciate over time. Though managed by LVMH, each maison has creative control over its own brand, with its own C-suite executives and mission. LVMH consistently collaborates with celebrities, fashion icons and influencers in order to stay relevant for the younger luxury crowd. Remaining relevant is key to longevity in luxury — and LVMH's strategy in building a brand that not only endures but continues to excel.

☆ How luxury giant LVMH built a recession-proof empire
▼ + stars: | 2023-05-18 | by ( Natalie Rice | ) www.cnbc.com time to read: +2 min

Luxury giant LVMH Moët Hennessy Louis Vuitton, more commonly known as LVMH , has grown into a $500 billion powerhouse conglomerate of 75 distinguished brands, or "maisons," rooted in six different sectors — with no plans to slow down. The company recorded revenue of 79.2 billion euros, or about $86.3 billion, last year, an increase of 23% from 2021 revenue. Though managed by LVMH, each maison has creative control over its own brand, with its own C-suite executives and mission. LVMH consistently collaborates with celebrities, fashion icons and influencers in order to stay relevant for the younger luxury crowd. Remaining relevant is key to longevity in luxury — and LVMH's strategy in building a brand that not only endures but continues to excel.

But with flights remaining limited after China's border reopening in January, European luxury stores will need to wait longer for the return of masses of tourists they once depended on for growth. The average transaction value by Chinese travellers in Europe in March was 28% above 2019 levels, UBS said, citing data from VAT refund provider Planet. Cartier-owner Richemont (CFR.S), Hermes (HRMS.PA) and LVMH were best placed to benefit from wealthy Chinese shoppers, UBS added. As wealthy Chinese return to Europe and other foreign destinations, the appeal of China's Hainan Island, a duty free shopping hotspot, appears to be waning among top luxury spenders. China's "higher income, top luxury spenders (are) already travelling abroad again," she said, leading to an observable lower per-capita spend in Hainan.

☆ Louis Vuitton dazzles luxury-seeking Seoul with first pre-fall show
▼ + stars: | 2023-04-29 | by ( ) www.reuters.com time to read: +1 min

SEOUL, April 29 (Reuters) - LVMH's (LVMH.PA) top fashion brand Louis Vuitton held its first-ever pre-fall fashion show on Saturday on a bridge in Seoul, the capital of a leading luxury market. In one of the highest profile events since chairman and CEO Pietro Beccari started at Louis Vuitton earlier this year, the runway on the lower level of the double-decker Jamsu bridge that spans the Han River was bathed in blue shadows. Models walked the 795 metre (2,608 feet) bridge, where traffic was stopped for 24 hours, wearing fitted, sporty designs with geometric patterns designed by Nicolas Ghesquière, artistic director of women’s collections at Louis Vuitton. They strode out of a tunnel on chunky-heeled shoes in slick windbreakers, miniskirts that flared out and striped suits. On Saturday the creator and director of 2021's Netflix hit drama "Squid Game" Hwang Dong-hyuk participated in the show scenography.

☆ LVMH chief Bernard Arnault ordered a makeover for Tiffany's Fifth Avenue store after getting lost inside
▼ + stars: | 2023-04-29 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

LVMH's CEO ordered a makeover of Tiffany's flagship Fifth Avenue store after getting lost in it. The Tiffany flagship store on Fifth Avenue pictured in 1995. Since the acquisition, LVMH has overhauled the design of Tiffany's flagship store, which reopened Wednesday after being closed since 2019. Tiffany & Co. brand ambassador Gal Gadot, Alexandre Arnault (left) and Tiffany CEO Anthony Ledru open the revamped Fifth Avenue store on April 26. When asked about that figure, Arnault told the Journal: "You cannot dream when you talk numbers.

☆ Tiffany unveils revamped New York flagship, showcasing new look
▼ + stars: | 2023-04-26 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

Global Brand Ambassador Gal Gadot along with Anthony Ledru, President and Chief Executive officer of Tiffany & Co attend a ribbon cutting ceremony for reopening of the Tiffany flagship store on 5th Avenue in Manhattan in New York City, New York, U.S., April 26, 2023. REUTERS/Brendan McDermidNEW YORK, April 26 (Reuters) - Tiffany & Co. lifted the lid on its newly renovated New York city flagship on Wednesday, the centerpiece of a broad brand reset orchestrated by its owner, the world's biggest luxury group LVMH. Alexandre Arnault spearheaded the label's initial reset with an advertising campaign starring Beyonce -- wearing the famous yellow Tiffany diamond -- and Jay-Z. Now the priority will be on renovating the label's retail network, essential for Tiffany to bridge the gap with Cartier, the world's largest jewelry label, which belongs to Richemont(CFR.S), Ledru said. Tiffany sales came to 5.1 billion euros ($5.63 billion) in 2022 and are forecast to reach 7.4 billion in 2025, according to HSBC.

☆ Elon Musk could make almost $100,000 a month from Twitter users who subscribe to him
▼ + stars: | 2023-04-24 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Elon Musk shared a screenshot of his Twitter profile that showed the number of his subscribers. At least 24,700 people have subscribed to the Twitter owner's profile, paying $4 a month. Elon Musk shared a screenshot on Monday of his Twitter profile indicating to users how to monetize on the social media platform. Per Insider's calculations, if Musk has 24,700 subscribers he would make $98,800 a month. Musk said users will be able, through "Subscriptions," to charge followers for exclusive content, including long-form text, long-form videos, and subscriber-only Spaces.

☆ LVMH market cap milestone: First European company to surpass $500 billion in value
▼ + stars: | 2023-04-24 | 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 EmailLVMH market cap milestone: First European company to surpass $500 billion in valueCarter Worth, Worth Charting CEO and founder and CNBC's Robert Frank join 'The Exchange' to discuss the strength of Europe's luxury goods sector, the power of LVMH's diverse offering, and a technical read of the luxury goods space.

☆ Bernard Arnault, the French luxury tycoon, gathers his 5 kids monthly for a private work lunch and drills them on company strategy, report says
▼ + stars: | 2023-04-19 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +3 min

Bernard Arnault is the billionaire behind LVMH and was recently crowned the world's richest man. Arnault reportedly hosts a monthly private lunch with his five children to discuss strategy, per WSJ. "At no moment did he [Bernard Arnault] tell me, 'I must prepare my children for my succession," Toledano told The Journal. Toledano told The Journal that Arnault taught kids to prize the company over personal disagreements from a young age. Arnault overtook Jeff Bezos and Elon Musk to become the world's richest person this year.

☆ 'Quiet luxury' is back for the first time since the Great Recession. Here's what it is and what brands stand to benefit.
▼ + stars: | 2023-04-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

The quiet luxury trend is dominating 2023 after years of trends like "dopamine dressing." David Russell/HBOLike most other fashion trends, the move toward quiet luxury, or "stealth wealth," is part of a cycle. Liz Hafalia/The San Francisco Chronicle via Getty ImagesAt this point, quiet luxury has become so popular that even luxury brands themselves are being asked about it. She also highlighted Italian luxury house Brunello Cucinelli, French leather goods firm Hermès, and Armani, who has been doing quiet luxury for nearly two decades. If that's a bit outside your budget, there are mass-market retailers partaking in what the quiet luxury trend is promoting: durable, sustainably made clothing in timeless fabrics and silhouettes.

☆ 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.

☆ Photos show crowds storming the headquarters of the world's richest man as they protest France's proposed retirement age raise
▼ + stars: | 2023-04-13 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

Protestors opposing France's plans to raise the retirement age stormed LVMH headquarters. Top executives, including LVMH CEO and world's richest man Bernard Arnault, have offices in the building. Striking railway workers entered LVMH's headquarters to protest the French government's proposal to raise France's retirement age. Lewis Joly/AP PhotoFrench President Emmanuel Macron proposed raising France's retirement age to 64 by 2030, saying that France's pension system needs the reform to be able to support future generations of retirees. Lewis Joly/AP PhotoArnault is currently the richest person in the world, and recently saw his net worth cross over $200 billion.

☆ French pension protesters flood LVMH headquarters in Paris
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

[1/3] Security members stand in front of the headquarters of luxury retailer Louis Vuitton after a protest action French SNCF workers, members of French CGT and Sud Rail labour unions in Paris as part of the 12th day of nationwide strikes and protests against French government's pension reform, in Paris, France, April 13, 2023. REUTERS/Bart BiesemansPARIS, April 13 (Reuters) - Scores of French workers protesting against pension reforms flooded into the Paris headquarters of luxury group LVMH (LVMH.PA) on Thursday, calling for the rich to contribute more to financing the state pension. France's labour unions have been staging strikes and marches since mid-January in protest against President Emmanuel Macron's plans to raise the legal retirement age. The government says it is necessary to raise the retirement age for most workers to balance the pension budget in years to come. Reporting by Bart Biesemans and Ingrid Melander, writing by Mimosa Spencer; editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

A ban on protests in the area is in place from Thursday evening until Saturday morning local time. Loic Venance/AFP/Getty ImagesViolence also broke out at Paris’ Place de la Bastille as riot police clashed with angry protestors. Up to 600,000 people were expected to take to the streets across France for the latest protests. Protesters gain entry inside the LVMH headquarters during a demonstration against pension reform in central Paris. Femimist activists dressed as Rosie the Riveter icon perform during a demonstration in Paris on April 13, 2023.

☆ Analysis: LVMH's caution points to Americans' waning lust for luxury
▼ + stars: | 2023-04-13 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

[1/2] A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. European labels including LVMH's Louis Vuitton and Dior, as well as Chanel and Hermes have been riding a wave of strong demand from Americans, who emerged from lockdowns with savings and a desire to splash out on designer labels. He added the group is taking a cautious approach to price increases this year -- not just for cognac. "It's probably the most emblematic luxury store in the world," said Guiony. Elliott Savage, portfolio manager of U.S.-based fund YCG Investments, which holds shares in LVMH and other luxury brands, said a weakening U.S. luxury market in the near term could present an opportunity for dominant players to take market share.

☆ LVMH Q1 sales lifted by strong Chinese rebound
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

PARIS, April 12 (Reuters) - LVMH (LVMH.PA), the world's largest luxury company, reported a 17% rise in first-quarter sales, more than double analysts' expectations, as China rebounded after COVID-19 lockdowns. LVMH said first-quarter sales grew by 14% in Asia, excluding Japan, and by 8% in the United States. That compared with flat revenues in Asia and 15% growth in U.S. sales for last year. "Asia experienced a significant rebound," the company said in a statement. LVMH made 27% of its 2022 revenues in the Americas, and 30% in Asia excluding Japan.

☆ Louis Vuitton boss Bernard Arnault is only the 3rd person to be worth $200 billion – and his 5 kids are all Nepo babies
▼ + stars: | 2023-04-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Luxury goods mogul Bernard Arnault is the world's richest person. Eric Piermont/Getty ImagesBernard Arnault is currently the world's richest person with a net worth of about $201 billion, according to estimates by Bloomberg. He's only the third person to surpass the $200 billion mark following tech moguls Jeff Bezos and Elon Musk, both of whom have since seen their wealth fall. Arnault cofounded LVMH in the 1980s, and is its CEO and chair. Last year LVMH raised the age limit of its CEO from 75 to 80, extending Arnault's possible tenure.

☆ LVMH boss Bernard Arnault's wealth soared over $200 billion, making him the third person ever after Elon Musk and Jeff Bezos to reach the milestone
▼ + stars: | 2023-04-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

LVMH boss Bernard Arnault's net worth surpassed $200 billion on Tuesday. Arnault is also the first person outside the US to surpass a net worth of $200 billion. His net worth gained $2.4 billion on Tuesday, bringing the Frenchman's fortune to $201 billion, per Bloomberg's index. Shoppers in China are expected to boost the luxury goods sector this year after the country lifted COVID-zero restrictions. The 73-year-old tycoon has not announced who will succeed him as LVMH CEO.

☆ Louis Vuitton shows playful, French styles at Musee d'Orsay in Paris
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

[1/5] A model presents a creation by designer Nicolas Ghesquiere as part of his Fall-Winter 2023/2024 Women's ready-to-wear collection show for fashion house Louis Vuitton during Paris Fashion Week in Paris, France, March 6, 2023. REUTERS/Benoit TessierPARIS, March 6 (Reuters) - Louis Vuitton (LVMH.PA) took to the Musee d'Orsay for its fall-winter catwalk show on Monday, sending a modern lineup of playful, sculptural looks down a slick, black runway designed to evoke a Paris street. Handbags were varied, including one fashioned to look like a typical blue Paris street sign, trimmed in green - with "Louis Vuitton" stamped in white letters. Paris Fashion Week, which features big-name fashion labels including LVMH-owned Dior, Kering SA-owned (PRTP.PA) Saint Laurent, Valentino and Chanel, winds up on Tuesday. Reporting by Mimosa Spencer in Paris Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

[1/2] Customers shop at a mall ahead of the Chinese Lunar New Year, in Beijing, China January 15, 2023. REUTERS/Tingshu Wang/File PhotoLONDON/MILAN/FRANKFURT/NEW YORK, March 1 (Reuters) - The world's top consumer and luxury goods companies have seen sales of everything from cosmetics to condoms grow in China since Beijing ended strict COVID-19 curbs, another sign that the world's No. Tourism from China was helping sales in neighbouring Macau, Hong Kong, Taiwan and even Japan, he added. Reckitt Benckiser, which makes Nurofen tablets, cold remedy Lemsip and Durex, saw a pick-up in China after a decline in volumes because of lockdowns. U.S. retailer Walmart Inc (WMT.N), which operates nearly 400 retail and wholesale stores in China, reported strong traffic in its stores since reopening.

☆ 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.

☆ Aspirational luxury brands doing well despite inflation, says Jan Kniffen
▼ + 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 EmailAspirational luxury brands doing well despite inflation, says Jan KniffenJan Kniffen, CEO of J. Rogers Kniffen Worldwide, joins 'Squawk Box' to discuss inflations impact on consumer discretionary spending, luxury retail doing better than low end, and Pharrell Williams taking over LVMH's artistic direction.

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