Lvmh news

LVMH (Moët Hennessy Louis Vuitton) is a French multinational luxury goods conglomerate, and here are some recent news and updates about the company:

Recent Acquisitions and Partnerships:

• In February 2023, LVMH acquired a majority stake in the Italian fashion brand, Off-White.
• In January 2023, LVMH partnered with the French fashion brand, Jacquemus, to launch a new ready-to-wear collection.
• In December 2022, LVMH acquired a minority stake in the American fashion brand, Patagonia.

Financial Performance:

• In 2022, LVMH reported a revenue of €59.4 billion, a 16% increase compared to 2021.
• In 2022, LVMH's operating profit reached €14.5 billion, a 14% increase compared to 2021.
• In 2022, LVMH's net profit reached €10.4 billion, a 12% increase compared to 2021.

New Store Openings and Expansions:

• In 2022, LVMH opened new stores for its luxury brands, including Louis Vuitton, Christian Dior, and Bulgari.
• In 2022, LVMH expanded its e-commerce platform, allowing customers to purchase products from its luxury brands online.
• In 2022, LVMH opened a new flagship store for its luxury brand, Tiffany & Co., in New York City.

Sustainability Efforts:

• In 2022, LVMH launched its "LVMH for Nature" program, which aims to reduce the company's environmental impact.
• In 2022, LVMH announced plans to reduce its carbon emissions by 50% by 2025.
• In 2022, LVMH launched a new sustainable packaging initiative, which aims to reduce waste and increase recycling.

Leadership and Governance:

• In 2022, Bernard Arnault, the CEO of LVMH, was named the richest person in the world by Forbes.
• In 2022, LVMH appointed a new CEO for its fashion and leather goods division, Pietro Beccari.
• In 2022, LVMH appointed a new CEO for its perfumes and cosmetics division, Nicolas Hieronimus.

These are just a few of the recent news and updates about LVMH. The company is constantly evolving and expanding its operations, so there may be more news and updates in the future.