LVMH CEO Bernard Arnault testified in a French trial, denying any involvement in an alleged spying and intelligence peddling scheme involving former French intelligence chief Bernard Squarcini. The trial centers around accusations of using security contacts for private gain, impacting LVMH’s reputation amid already declining revenue.
The luxury market is experiencing a significant shift, with high-end brands like Hermès and Ferrari outperforming while more aspirational brands face challenges due to economic slowdowns and shifting consumer behavior. This article explores the reasons behind this split and analyzes the future outlook for the luxury sector.
After a successful seven-year tenure at Celine, Hedi Slimane is departing the luxury house. During his time, he revived the brand’s image, steered it to significant revenue growth, and established its presence in new categories like fragrances and makeup. Slimane’s departure has fueled speculation about his future direction, with many anticipating a move to Chanel.
Bernard Arnault, CEO of luxury giant LVMH, has experienced a significant decline in his net worth, dropping from the top spot to nearly fifth place on the Bloomberg Billionaires Index. The decline is attributed to a drop in LVMH’s stock price and challenges in the luxury goods market.
Sarah Burton, renowned for her tenure at Alexander McQueen, has been appointed as the new creative director of Givenchy. Burton’s appointment marks a significant milestone, making her one of only five women to hold a creative director title at an LVMH house. She takes the reins from Matthew Williams, who stepped down after three years, and will oversee all women’s and men’s collections for the iconic fashion house.
Music superstar Beyoncé Knowles-Carter is entering the luxury spirits market with her new whiskey brand, SirDavis, developed in partnership with LVMH. The brand pays homage to her great-grandfather and features a unique blend of rye and malted barley, aged in sherry casks. SirDavis is priced at $89 per bottle and will be available for pre-order online before hitting shelves in September.
French billionaire Bernard Arnault, CEO of luxury goods conglomerate LVMH, has been aggressively investing in artificial intelligence (AI) startups through his family office, Aglaé Ventures. His investments, totaling over $300 million in 2024 alone, reflect a strategic move to diversify his portfolio and stay ahead of the curve in the rapidly evolving technology landscape.
French luxury conglomerate LVMH and Chinese e-commerce giant Alibaba have deepened their partnership to leverage Alibaba’s cloud and artificial intelligence capabilities. This strategic alliance aims to bolster LVMH’s presence in China, a key market for luxury goods. As pandemic-driven e-commerce growth continues and high-end brands embrace online shopping, the partnership reflects a growing focus on omnichannel retail experiences.
Despite recent economic headwinds in China, there are signs of recovery, presenting investment opportunities for companies with exposure to the region. Here are three underperforming U.S. stocks that could benefit greatly from China’s economic rebound: Starbucks (SBUX), Apple (AAPL), and LVMH (LVMUY). Each company has a strong presence in China and stands to gain from increased consumer demand and economic growth.
CNBC’s Will Koulouris spoke with Jack Dwyer, CEO of Infusive Asset Management, about his firm’s consumer investment strategy. Dwyer highlighted Amazon and LVMH as key holdings in their portfolio.
