Louis Vuitton is a high-end designer fashion brand known for its longevity and prestige. Those who value the quality and status attributed to owning Louis Vuitton can shop with confidence that authentic LV products are made with attention to detail and expert craftsmanship. The business has a rich and legendary history. With constant sales, the owner of the company is one of the richest people on the planet, but who owns Louis Vuitton?
A brief history of the Louis Vuitton brand
Louis Vuitton began its work making luggage for the very wealthy, including royal customers, in the early 1800s. After completing custom travel boxes for his clientele, Mr. Vuitton launched his own brand in 1854. He was the founder and owner of the Louis Vuitton brand. Since then, the company has evolved and expanded its product lines. The luggage line offers a wide range of model options in sets and all sizes using new and improved materials and technology to ensure superior performance for the high-end brand. Handbags and other accessory lines were also added to the product list. More recently, the Louis Vuitton brand entered the field of technology by offering earbuds / headphones that sell for more than $ 1,100 per set. The company passed into the hands of family members after the death of its founder as its value increased.
The current owner of the Louis Vuitton empire
According to Business Insider, the current owner of Louis Vuitton is LVMH, an acronym for Moet Hennessy Louis Vuitton SE. The ticker symbol for the public company is OTC: LVMUY. In 1987 Moet Hennessey, a wine and spirits producer merged with Louis Vuitton to create LVMH. The chairman of the board of LVMH is Bernard Arnault. Mr. Arnault is one of the richest men in the world with an estimated net worth of $ 113 billion. Under his leadership from LVMH, the company has grown to become the largest luxury goods conglomerate. Acquisitions over the years have built a large empire in the luxury goods niche with ownership of 17 other high-end companies, including Louis Vuitton.
The Louis Vuitton brand is considered a subsidiary of LVMH and is technically owned by the publicly traded conglomerate. It is a massive conglomerate owned by 6 business groups that encompass wines and spirits, perfumes and cosmetics, selective retail, watches and jewelry, fashion and leather goods, among others. Some of the most prestigious luxury companies are owned by LVMH, including Givenchy, Louis Vuitton, TAG Heuer, and most recently Tiffany’s.
Who owns LVMH?
There is no single owner of LVMH, but the person who owns most of it is none other than Bernard Arnault. It has a majority stake in half of the company. Arnault was named the fourth richest person in the world a few years ago. On top of that, he is the richest man in all of his native France. Average annual income for LVMH is about $ 59 billion for 2019 with ups and downs depending on the economy in a given year. The pandemic slashed that figure by about $ 20 billion, but it’s still a decent bouncing value proposition after a hiatus in sales.
Other impressive acquisitions from Arnault
Bernard Arnault is also the owner of Le Bon Marche Rive Gauche. This company has a rich history dating back to its founding in 1852. It also acquired Agache-Willot-Boussac, renaming it Financiere Agache. it sold some of the latter’s assets, but retained Le Bon Marche, incorporating it into the LVMH group in 1987. Le Bon Marche has earned the distinction of being named one of the world’s first Paris-based department stores. France. The retailer specializes in high-end retail products with carefully selected products.
Louis Vuitton is stable and protected
According to CNBC, Bernard Arnault has increased his personal wealth to the tune of $ 7 billion as stocks soared in his Covid 19 vaccine producer, Pfizer. This increased his net worth from $ 113 billion to $ 137 billion. He also jumped from the position of the fourth richest person in the world to the second. Arnault is just one of five billionaires in the world who has amassed a fortune exceeding $ 100 billion. You have made multiple smart investments in your life.
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