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Stock market: LVMH boosted by the contribution of Tiffany

Stock market: LVMH boosted by the contribution of Tiffany

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On May 24, Bernard Arnault became the world’s first fortune. The leader of the LVMH group, the world’s number one luxury goods company, is benefiting from the acquisition of the American jeweler Tiffany in its hard luxury branch.

 

In the last ten years, the LVMH group has taken the Paris stock exchange by storm and has jumped 454%, while it is up 61% over one year. The group led by Bernard Arnault with a market capitalization of 329 billion euros has proven its resilience during the health crisis, and financial analysts remain positive about the future of LVMH, although the upside potential is slightly reduced.

 

The group, which has just launched a 30 million euro emergency fund for its 150,000 employees worldwide to provide social and psychological support on a case-by-case basis, continues to establish itself as the undisputed leader in the global luxury goods market. JP Morgan analyst Chiara Battistini maintains a Buy rating, with a target price of €685.

 

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