LVMH, known for brands such as Louis Vuitton, Moët & Chandon and Hennessy, has something to celebrate. The French luxury group is now the first European company with a market value of 500 billion dollars (more than 450 billion euros).
This is because the company behind the Dom Pérignon champagne and fashion brands such as Christian Dior and Givenchy has seen its turnover rise to record levels over the past year.
LVMH is on the rise due to strong demand for the company’s brands in Europe and the United States, among others.
The company is led by Bernard Arnault. He overtook Tesla boss Elon Musk as the richest person in the world last year.
In recent months, Arnault has restructured the leadership of the company. He has given his children top positions. This is how his daughter becomes top woman of fashion brand Dior.
2023-04-24 11:38:35
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