![]() In February 2014, LVMH entered into a joint venture with the Italian fashion brand Marco De Vincenzo, taking a minority 45% stake in the firm. On 7 March 2013, National Business Daily reported that mid-priced clothing brand QDA would open its first store in Beijing, as a co-investment of LVMH's private equity LCapitalAsia and the Chinese apparel company Xin Hee Co., Ltd. Xue Shengwen, a senior researcher at ChinaVenture, said the developing trend of young people is to take advantage of more acceptable prices. In 2012, the growth of LVMH's sales "decreased by about 10 percent from the growth rate in 2011", and in early 2013 LVMH expressed that it would "stop opening stores in second and third-tier cities in mainland China". īy 2012, LVMH established LCapitalAsia, a continuation of its private-equity arm, focused in Asia. On 7 March 2011, LVMH announced the acquisition of the 50.4% family-owned shares of the Italian jeweller Bulgari and the intention to make a tender offer for the rest, which was publicly owned. Make Up For Ever was established in 1984, and was acquired by LVMH in 1999. LVMH is a component of the Euro Stoxx 50 stock market index. Thus, the French conglomerate Kering and the Swiss-based Richemont have also created extended portfolios of luxury brands. Their successful integration of various famous aspirational brands into a single group inspired other luxury companies to do the same. He worked with Alain Chevalier, CEO of Moët Hennessy, and Henry Racamier, president of Louis Vuitton, to form LVMH. In the 1980s, French investor Bernard Arnault had the idea to create a group of luxury brands. Bernard Arnault is the current CEO of LVMH. The oldest of the LVMH brands is wine producer Château d'Yquem, which dates its origins back to 1593. The subsidiaries are often managed independently, under the umbrellas of six branches: Fashion Group, Wines and Spirits, Perfumes and Cosmetics, Watches and Jewelry, Selective Distribution, and Other Activities. These include Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer, Bulgari, and Tiffany & Co. LVMH controls around 60 subsidiaries that each manage a small number of prestigious brands, 75 in total. In 2021, with a valuation of $329 billion, LVMH became the most valuable company in Europe. The company was formed in 1987 through the merger of fashion house Louis Vuitton (founded in 1854) with Moët Hennessy, which was established following the 1971 merger between the champagne producer Moët & Chandon (founded in 1743) and the cognac producer Hennessy (founded in 1765). It reads: ‘A pair of bracelets where three diamonds, with the biggest set in the middle, form two barrettes the two barrettes serve as clasps, each comprising four diamonds, and 96 collet-set diamonds’.LVMH Moët Hennessy Louis Vuitton ( French pronunciation: ), commonly known as LVMH, is a French holding multinational corporation and conglomerate specializing in luxury goods, headquartered in Paris. Item number six on the detailed inventory, now held in the Austrian National Archives, pertains to these bracelets. Inside, under layer upon layer of stuffing pads, was Marie Antoinette’s most valuable property, including a pair of three-strand diamond bracelets. On 16 October 1793 Marie Antoinette was guillotined.įour months later, Holy Roman Emperor Francis II, the late queen’s nephew, ordered the chest to be opened and an inventory of its contents made. This was later sent out of France for safekeeping to the former Austrian ambassador, Count Mercy-Argenteau, in Brussels - then under Austrian rule.Ī loyal friend of the family, Mercy-Argenteau stored the chest, undisturbed and unopened, in the hope of one day returning it to the young French queen. In January 1791, while Marie Antoinette was imprisoned in the Tuileries Palace in Paris, she secretly wrapped her finest jewels in cotton and stashed them away in a wooden chest. ![]()
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