Luxury : LVMH crosses €200 billion market cap for the first time

The market capitalization of LVMH, the world leader in luxury goods, is soaring and now exceeds 201 billion euros, a historic first for a French group!

By Luxus Plus

 

The world’s number one in luxury is also the CAC40 champion!

 

The French group, which owns 70 brands, including Louis Vuitton and Christian Dior, has followed an upward trend since the beginning of the year and has just reached a new milestone on November 4: its market capitalization exceeds 201 billion euros (396.90 euros, +7.50), a threshold never reached by a French group.

 

It should be recalled that on January 30, 2019, LVMH began the year triumphantly with a valuation of more than 140 billion euros, distinguishing itself as the leading market capitalization in the euro zone ahead of the Total group.

 

Bernard Arnault’s group has also announced that it has been negotiating since early October to buy American jeweller Tiffany&co.

 

The luxury giant confirmed that it had made a $14.5 billion offer for its acquisition, while stressing that at this stage it had “no certainty” that these negotiations would be successful.

 

In New York, the American jeweller acknowledged that he “carefully examined the proposal” and refused to comment further.

 

Jean-Jacques Guiony, Chief Financial Officer of LVMH, is in charge of this project for the number one luxury brand.

 

Following LVMH’s proposal made public on October 28, Tiffany’s share price soared from 28.8% to $126.95, above the advanced price ($120 per share) by LVMH.

 

To be continued.

 

Previous ArticleNext Article