French billionaire Bernard Arnault’s multinational holding “Moët Hennessy Louis Vuitton” (LVMH) is best known in the world for its luxury clothing, perfume and jewelry brands. Although they are associated with the thickness of the wallets of the world’s most powerful and famous people, investors and experts believe that the success of the company still largely depends on the purchasing power of the Chinese middle class.
Recently, however, LVMH has lost the status of the most valuable European company, which was facilitated by the skidding of the Asian superpower’s economy.
Although the world economy is not in a giant crisis, more and more countries are facing problems caused by inflation, interest rate hikes, energy issues and other processes caused by pandemics, war and climate change.
This inevitably affects the willingness and ability of the population, especially the middle class, to spend money on goods that they do not really need, namely, luxury goods. The best example of this is “Moët Hennessy Louis Vuitton” (LVMH), which makes the most profit by selling expensive brand products. True, it also covers various other companies.
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French billionaire Bernard Arnault is regularly listed among the richest people in the world, with only Elon Musk and Jeff Bezos matching his wealth in recent years. He is also regularly the only non-American in the world’s “TOP 10” rich lists. This is largely thanks to LVMH.
2023-09-15 04:00:03
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