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Angelina RascouetFortune |
Sales jumped to $4.1 billion in the first quarter, and shares rose as much as 1.3%, beating LVMH Moet Hennessy Louis Vuitton SE and Gucci owner Kering...
Kering warned that recurring operating income will drop between 40% and 45% in the first six months of this year.
The deal represents “the single largest asset sale in the Italian real estate market”.
Stephane Bianchi, the current head of LVMH’s watches and jewelry unit, will succeed him.
Arnault, the world's third wealthiest person, owns about 48% of LVMH shares along with his family, and nearly 64% of voting rights.
The announcement will likely renew speculation over succession at the luxury company, which is currently headed by 74-year-old Bernard Arnault, the...
Premium airfares from New York to Paris were up 44% over 2019 in the three weeks prior to Oct. 7, then just 4% afterward, according to ForwardKeys.
Demand for LVMH’s Champagne brands is moderating this year after the boom that followed the pandemic.
The attack comes ahead of the brand’s Paris Fashion Week show.
The French luxury tycoon took the opportunity to buy the dip.
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