On September 15, French luxury conglomerate LVMH (Moët Hennessy Louis Vuitton) announced its third-quarter results for 2024. Although overall sales reached €19.076 billion (approximately $21 billion), organic sales declined by 3%, falling significantly short of analysts’ expectations.
Tag: LVMH
On October 2, LVMH Moët Hennessy Louis Vuitton officially announced the departure of Hedi Slimane from Celine, and that Michael Rider would succeed him as the new Creative Director.
On October 2nd, LVMH announced in a statement that Hedi Slimane will be stepping down as Celine’s creative and image director.
On September 30, LVMH announced the sale of Off-White to Bluestar Alliance LLC, a New York-based brand management company.
On September 26th, LVMH announced that it had acquired a 10% stake in “Double R,” an investment vehicle managed by Ruffini. Double R currently holds approximately 15.8% of Moncler’s shares.
On July 17, the French luxury conglomerate LVMH announced the appointment of Julien Tornare as the new CEO of its watch brand, Hublot.
On June 13, LVMH announced that it had entered into a strategic partnership with Accor, owner of Orient Express trains.
On June 5, Dutch semiconductor equipment manufacturer ASML Holding NV surpassed LVMH in market capitalization for the first time, becoming Europe’s second-largest listed company.
On April 8, Bloomberg News reported that the French luxury brand Chanel is considering buying the 745 Fifth Avenue building in Manhattan.
On January 25, French luxury conglomerate LVMH announced that it recorded revenue of €86.2 billion in 2023, equating to organic growth of 13% with respect to 2022.