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LVMH



         


Moet Hennessy Louis Vuitton (usually shortened to LVMH) is the world's largest luxury goods company. It is the parent of around 50 sub-companies that each manage a small number of prestigious brands. The child companies are run, to a large extent, autonomously. LMVH is based in Paris. The group was formed after mergers brought together champagne producer Moët et Chandon and Hennessy, a leading manufacturer of brandy. In 1987, they merged with baggage manufacturer Louis Vuitton to form the current group. Collectively, the group operates around 50 brands.

The oldest of the LVMH brands is wine producer Château d'Yquem, which dates its orgins back to 1593. As of 2003, the group had a turnover of approximately 12bn euros with a net income of 2bn euros. The group is publicly traded on Paris's CAC40 stock exchange. The group currently employs 56,000 people. The company is headquartered in Paris, and 40% of the staff work in France. LVMH operates around 1,500 stores worldwide. Its current business plan aims to tightly control the brands it manages in order to maintain and heighten the perception of luxury relating to their products. For example Louis Vuitton products are sold only through Louis Vuitton boutiques found in upmarket locations in wealthy cities and in concessions in other luxury goods shops (such as Harrods in London). This practice contrasts greatly with less exclusive brands, such as Tommy Hilfiger, which can be bought in shopping malls around the world.

LVMH's brands include:





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