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Armani's will instructs to gradually sell fashion brand

The will of late fashion designer Giorgio Armani instructs heirs to sell a 15% stake in the Italian fashion house within 18 months and later transfer an additional 30% to 54.9% to the same buyer between three and five years after his death, according to a copy of the will reviewed by Reuters.

Business • 12 Sep

LVMH's quarterly sales weaker than expected

Luxury bellwether LVMH has reported a slightly worse than expected 4% decline in quarterly sales, though CFO Cecile Cabanis expressed confidence for the rest of the year.

Business • 25 Jul

LVMH's Louis Vuitton store on 5th Avenue in New York

Luxury heavyweights struggle to shake off shopper fatigue

LVMH and Kering are expected to report another drop in quarterly sales, deepening investor worries about a prolonged downturn in the $400 billion luxury market as brands face the threat of hefty US import tariffs.

Business • 23 Jul

Loro Piana in court administration on labour exploitation

An Italian court has placed LVMH group's high-end Italian cashmere firm Loro Piana under judicial administration for a year after allegedly uncovering worker abuse inside its supply chain, in the latest in a string of cases that have tainted the image of Italy's luxury brands.

Business • 14 Jul

Organic sales at Moet Hennessy, LVMH's weakest division, dropped 9% in the first quarter

LVMH's Moet Hennessy to cut workforce by 10% - FT

LVMH group's wine and spirits business Moet Hennessy will shrink its workforce by more than 10%, about 1,200 employees, the Financial Times has reported, citing an internal video message from the division's CEO, Jean-Jacques Guiony.

Business • 02 May

LVMH shareholders have voted to allow Bernard Arnault to remain at the helm of the world's largest luxury group until he is 85

Arnault can remain as LVMH CEO until he is 85 - AGM

LVMH shareholders have today voted to allow Bernard Arnault, 76, to remain at the helm of the world's largest luxury group until he is 85.

Business • 17 Apr

The Louis Vuitton store on 5th Avenue in New York

LVMH overtaken by Hermes in market capitalisation

LVMH lost its position today as Europe's largest luxury company in terms of market capitalisation after being overtaken by rival Hermes due to investor pessimism after disappointing first-quarter revenue from the sector bellwether.

Business • 15 Apr

The French company is behind high-end labels including fashion houses Louis Vuitton and Dior.

LVMH posts 3% drop in first quarter sales

LVMH, the world's largest luxury group, said today sales fell 3% over the first quarter, missing expectations and confirming a sector slowdown as shoppers held back on purchases of designer goods in a choppy economic environment.

Business • 14 Apr

LVMH's fourth-quarter sales for the three months to the end of December rose 1% to €23.9 billion in a further sign the luxury sector is recovering from a recent downturn

LVMH touts good start to 2025 but Q4 results underwhelm

LVMH has made a good start to 2025, CEO Bernard Arnault said last night, after the luxury conglomerate posted a slight rise in fourth-quarter sales, though analysts cautioned it may still fall short of heightened market expectations after recent share gains.

Business • 29 Jan

The owner of brands including Louis Vuitton handbags and Bulgari jewellery said sales for the three months to end-December reached 23.9 billion euros.

LVMH beats forecast with 1% rise in fourth quarter sales

Luxury bellwether LVMH beat expectations today with a 1% rise in fourth-quarter sales as demand for designer fashion and handbags picked up over the Christmas season, adding to hopes the sector has turned a corner.

Business • 28 Jan

Luxury brands consider accepting crypto payments

Bitcoin's soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap in to fresh pockets of wealth and build loyalty with crypto investors.

Business • 18 Dec 24

Bernard Arnault is LVMH's chairman and CEO and one of the world's richest people

LVMH's Arnault didn't know about 'illegal surveillance'

LVMH boss Bernard Arnault said he did not know about allegedly illegal surveillance ordered by a trusted associate almost a decade ago, as he testified in at times fiery exchanges with lawyers in the trial of a former French spy chief.

Business • 29 Nov 24

LVMH chief Bernard Arnault to testify in France spy trial

LVMH Chairman and CEO Bernard Arnault is set to testify at a Paris court in the trial of France's former spy chief Bernard Squarcini, a case that has cast light on the lengths to which the world's biggest luxury group has allegedly gone to protect its image.

Business • 28 Nov 24

Hennessy plans to trial bottling cognac in China

Hennessy is studying a plan to bottle cognac in China, the company owned by French luxury giant LVMH said, prompting hundreds of workers at its plant in southwestern France to go on strike.

Business • 20 Nov 24

LVMH's Bernard Arnault, Red Bull in talks to buy Paris FC

French billionaire and LVMH chairman Bernard Arnault has teamed up with energy drinks company Red Bull to buy a controlling stake in French second-tier soccer club Paris FC, the Arnault family office said today.

Business • 17 Oct 24

A Louis Vuitton store in Beijing in China

LVMH sales down as China demand for luxury goods worsens

French luxury giant LVMH reported a 3% fall in third-quarter sales last night, undershooting estimates in its first decline in quarterly sales since the pandemic as demand in China and Japan weakened, likely exacerbating investor worries.

Business • 16 Oct 24

Shares in Moncler and LVMH are higher after the owner of Louis Vuitton invested in the Italian outerwear specialist

Italy's Moncler shares trade higher after LVMH deal

Shares in Moncler and LVMH were sharply higher this morning after the owner of Louis Vuitton and Moet & Chandon champagne invested in the Italian outerwear specialist, in a deal which will give it a seat on the board.

Business • 27 Sep 24

The move comes over a year and a half after Delphine Arnault, the eldest child of LVMH boss Bernard Arnault, took the helm at Dior

LVMH's Dior recruits Miu Miu CEO as managing director

Christian Dior Couture has recruited Benedetta Petruzzo, the CEO of Prada's fast growing Miu Miu label, as its managing director, the LVMH-owned brand said today.

Business • 03 Sep 24

Dior was until last month behind on disclosures required by UK law about working conditions in its supply chain

LVMH's Dior lagged on supply chain disclosure

LVMH's second-largest fashion brand Dior was until last month behind on disclosures required by UK law about working conditions in its supply chain, and made outdated statements on its website of a third-party certification that it terminated more than a year ago, Reuters has found.

Business • 06 Aug 24

Sales at the world's biggest luxury group and owner of labels Louis Vuitton, Tiffany & Co and Hennessy slowed in the second quarter of 2024

LVMH sales miss estimates as Chinese market slows

LVMH sales growth slowed in the second quarter as Chinese shoppers reined in spending on high-end fashion at home, even as demand in Western markets slightly picked up.

Business • 24 Jul 24

Sales at the French group, owner of labels Louis Vuitton, Tiffany & Co. and Hennessy, grew to 20.98 billion euros

LVMH sales grow 1% in second quarter, missing estimates

LVMH, the world's biggest luxury company, posted a 1% rise in organic sales in the second quarter today, missing analyst estimates, and likely adding to investor jitters about slowing growth in the sector.

Business • 23 Jul 24

The luxury industry's supply chain has come under increased scrutiny by consumers and investors in recent years.

Italian authorities probing fashion brands' supply chains

Prosecutors in Milan are investigating the supply chain of around a dozen more fashion brands, a person with knowledge of the matter said, after a unit of France's LVMH in Italy was placed under court administration in a worker exploitation probe.

Business • 11 Jun 24

LVMH, the world's biggest luxury group, and Chinese e-commerce giant Alibaba first forged a partnership in 2019

LVMH deepens partnership with Alibaba in China

French luxury group LVMH will deepen its partnership with Alibaba to leverage the firm's cloud and artificial intelligence capacities and boost its presence in China, the companies said today.

Business • 22 May 24

LVMH is the world's largest luxury group

LVMH sales growth slips on luxury spending slowdown

LVMH's sales slowed in the first quarter as rising prices prompted more shoppers who aspire to own its luxury labels to hold back on splashing out thousands of dollars on handbags and other accessories.

Business • 17 Apr 24

LVMH is the world's largest luxury group, owner of Louis Vuitton

LVMH's first quarter sales growth slips to 3%

LVMH reported a 3% increase in first quarter sales today, marking a slowdown as rising prices prompted more shoppers who aspire to own its handbags and other luxury goods to hold back on splashing out.

Business • 16 Apr 24