LVMH

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LVMH Moët Hennessy Louis Vuitton SETemplate:Efn is a French multinational holding company and conglomerate<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> that specializes in luxury goods and has its headquarters in Paris.<ref name="Greffe du tribunal">Template:Cite web</ref> The company was formed in 1987 through the merger of fashion house Louis Vuitton (founded in 1854) with Moët Hennessy, which had been established by the 1971 merger between the champagne producer Moët & Chandon (founded in 1743) and the cognac producer Hennessy (founded in 1765).<ref name="CHFU">Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> In April 2023, LVMH became the first European company to surpass a valuation of $500 billion.<ref>Template:Cite news</ref> In 2023, the company was ranked 47th in the Forbes Global 2000.<ref>Template:Cite web</ref>

LVMH controls around 60 subsidiaries that manage 75 luxury brands. In addition to Louis Vuitton and Moët Hennessy, LVMH's portfolio includes Christian Dior SE, Givenchy, Fendi, Celine, Kenzo, Tiffany & Co., Bulgari, Loewe, TAG Heuer, Marc Jacobs, Sephora and Loro Piana. The subsidiaries are often managed independently, under the umbrellas of six branches: Fashion Group, Wines and Spirits, Perfumes and Cosmetics, Watches and Jewelry, Selective Distribution, and Other Activities. LVMH owns Les Echos-Le Parisien Group, its media subsidiary. The wine estate of Château d'Yquem, whose origins date back to 1593, is under LVMH ownership.<ref>The Beginnings of Château d'Yquem Château d'Yquem Retrieved 29 January 2010</ref> Bernard Arnault is the chairman, CEO and largest shareholder of LVMH, making him one of the richest people in the world as of 2024.

History

In 1987, Moët Hennessy and Louis Vuitton merged to create LVMH. As a result of different visions for the future of the merged entity, Alain Chevalier and Henry Racamier, the respective leaders of the predecessor firms, started to fight. Racamier invited Bernard Arnault to invest in LVMH. Rapidly, Arnault succeeded in taking control of LVMH at the expense of the initial family owners. Contrary to what is often indicated, Arnault did not establish LVMH.<ref>Template:Cite news</ref>

LVMH is a component of the Euro Stoxx 50 stock market index.<ref>Template:Cite web</ref>

Make Up For Ever was established in 1984,<ref>Template:Cite news</ref> and it was acquired by LVMH in 1999.<ref>Template:Cite news</ref>

On 7 March 2011, LVMH announced the acquisition of the 50.4% family-owned shares of the Italian jeweller Bulgari and the intention to make a tender offer for the rest, which was publicly owned.<ref>Template:Cite news</ref> The transaction was about $5.2 billion.<ref>Template:Cite web</ref>

By 2012, LVMH established LCapitalAsia, a continuation of its private-equity arm, focused on Asia.<ref name="MW March 7" /> In early 2013, LVMH announced its co-investment of its private equity arm LCapitalAsia and the Chinese apparel company Xin Hee Co., Ltd.<ref name="MW March 7">Template:Cite web</ref>

In February 2014, LVMH entered into a joint venture with the Italian fashion brand Marco De Vincenzo, taking a minority 45% stake in the firm.<ref>Template:Cite web</ref><ref name="LVMH Takes Stake in Marco de Vincenzo">Template:Cite web</ref>

In 2016, L Catterton Asia and Crescent Point, two private equity firms backed by LVMH, bought a majority stake in GXG.<ref>Template:Cite web</ref>

In April 2017, LVMH announced it would gain ownership of Christian Dior haute couture, leather, men's and women's ready-to-wear, and footwear lines to integrate the entire Dior brand within its luxury group.<ref name="bof-christian-dior">Template:Cite web</ref>

In January 2018, LVMH announced record sales of 42.6 billion euros in 2017, up 13% over the previous year, as all divisions turned in strong performances. In the same year, the net profit increased by 29%.<ref>Template:Cite web</ref> On 1 November 2018, co-founder Alain Chevalier died at age 87.<ref name=wwd>Template:Cite web</ref>

a tall blue glass building with angles
The LVMH Tower in Midtown Manhattan, with its bluish, gem-shaped, angulated glass facade

On 12 May 2019, the fashion house Fenty, created by Barbadian singer Rihanna, was launched by LVMH in Paris. It is the first new fashion house by LVMH in 32 years, and she is the first woman of colour to head a brand under LVMH.<ref>Template:Cite news</ref><ref>Template:Cite web</ref> On 15 July 2019, LVMH announced a new partnership to further develop the Stella McCartney House.<ref>Template:Cite web</ref> On 29 November 2019, LVMH announced its 55% stake in Château d'Esclans, the producer best known for the brand Whispering Angel.<ref>Template:Cite web</ref> The acquisition was part of LVMH's move to offer a beloved high-end rosé portfolio, in addition to reaching customers worldwide.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In November 2019, LVMH expressed plans to acquire Tiffany & Co. for approximately US $16.2 billion. The deal was expected to close by June 2020.<ref>Template:Cite web</ref> LVMH issued a statement in September 2020 indicating that the takeover would not proceed and that the deal was "invalid," citing Tiffany's mismanagement during the COVID-19 pandemic.<ref name="marketscreener">Template:Cite web</ref> Subsequently, Tiffany filed suit against LVMH, asking the court to compel the purchase or to assess damages against the defendant; LVMH planned to countersuit, alleging that mismanagement had invalidated the purchase agreement.<ref>Template:Cite web</ref>

In mid-September 2020, a reliable source told Forbes that the reason for Arnault's decision to cancel the Tiffany purchase was purely financial: because Tiffany was paying millions in dividends to shareholders despite a financial loss of US$32 million during the pandemic. Some US$70 million had already been paid out by Tiffany, with an additional US$70 million scheduled to be paid in November 2020.<ref>Template:Cite web</ref> LVMH filed a counterclaim against the court action commenced by Tiffany; a statement issued by LVMH blamed Tiffany's mismanagement during the pandemic and claimed that it was 'burning cash and reporting losses'".<ref>Template:Cite web</ref> In late October 2020, Tiffany and LVMH agreed to go back to the original takeover plan, though at a slightly reduced price of nearly $16 billion, a minor reduction of 2.6% from the aforementioned deal. The new deal reduced the amount paid per share by LVMH from the original price of $135 to $131.50.<ref>Template:Cite news</ref> As of late 2020, LVMH has the largest market capitalization of any company in France,<ref>Template:Cite web</ref> and also in the Eurozone with a record of 261 billion euros ($317.6 billion).<ref>Template:Cite web</ref> As of December 2020, Arnault's own fortune was nearly half that, with a personal net worth of $151.7 billion.<ref>Template:Cite web</ref>

LVMH completed the purchase of Tiffany in January 2021.<ref>Template:Cite web</ref> In 2021, with a valuation of $329 billion, LVMH became the most valuable company in Europe.<ref>Template:Cite web</ref>

In January 2022, LVMH acquired a minority stake in the New York-based label Aimé Leon Dore for an undisclosed sum. The investment was made through the conglomerate's LVMH Luxury Ventures arm.<ref>Template:Cite web</ref> In March 2022, LVMH announced the closure of its 120+ stores in Russia, pointing to "the current circumstances in the region",<ref name=":1">Template:Cite news</ref> subsequent to the Russian invasion of Ukraine. An LVMH spokesperson stated the company would continue to pay salary and benefits to its 3,500 employees in Russia.<ref name=":1" /> In November 2022, it was announced LVMH had acquired the Piedmont-based jewelry maker Pedemonte Group.<ref>Template:Cite news</ref>

On 24 April 2023, LVMH became the first European company to reach a $500 billion valuation.<ref>Template:Cite news</ref>

In November 2023, LVMH agreed to acquire the Los Angeles-based eyewear brand Barton Perreira for $80 million.<ref>Template:Cite web</ref>

In June 2024, LVMH acquired Swiza, the owner of L'Epée 1839,<ref>Template:Cite web</ref> a Swiss manufacturer known for high-end clocks and 'horological creations'.Template:Clarify<ref name=":3">Template:Cite web</ref> L'Epée 1839 produces intricate clocks, including those with perpetual calendars and tourbillons.

In 2024 LVMH's revenue reached 84.68 billion euros, or 1% organic growth for the year.<ref>Template:Cite web</ref>

In September 2025, following the death of Giorgio Armani, it was disclosed that LVMH had been named in Armani’s will as a preferred buyer of a minority stake in the company. The plan provides for an initial 15% purchase within 18 months, with the option to increase this to as much as 54.9% over the following three to five years.<ref>Bloomberg – Armani Has Gifted LVMH and Arnault a Prize (12 September 2025)</ref>

In November 2025, LVMH's watchmaking unit purchased a minority stake in Swiss manufacturer La Joux-Perret—a subsidiary of Citizen Watch Group.<ref>Template:Cite web</ref>

Corporate structure

LVMH is headquartered in the 8th arrondissement of Paris, France.<ref name=CHFU/> The company uses blockchain technology to authenticate luxury goods, reducing counterfeiting in high-end markets.<ref>Template:Cite web</ref>

The company is listed on the Euronext Paris exchange<ref>Template:Cite web</ref> and is a constituent of the CAC 40 index.

As of 2009, the group employed more than 83,000 people,<ref name="AR2010">Template:Cite web</ref> 30 percent of LVMH's staff worked in France, and LVMH operated over 2,400 stores worldwide.<ref name="LVMH First half 2009 interim report">LVMH First half 2009 interim report Template:Webarchive LVMH Retrieved 29 January 2010</ref>

As of 2010, the group had revenues of €20.3 billion with a net income of just over €3 billion.<ref name=AR2010/> In 2013, with a revenue of $21.7 billion, LVMH was ranked first luxury goods company in Deloitte's "Global Powers of Luxury Goods" report.<ref name="Deloitte Global Powers of Luxury Goods 2014 report">Template:Cite web</ref> By 29 February 2016, the company had a share value of 78,126 million euros, distributed in 506,980,299 shares.

Shareholders

As of 2009, LVMH held 66% of the drinks division, Moët Hennessy, with the remaining 34% held by Diageo.<ref>Template:Cite news</ref>

As of 2013, Christian Dior SE was the leading holding company of LVMH, owning 40.9% of its shares and 59.01% of its voting rights.<ref>Template:Cite web</ref> Bernard Arnault is Chairman and CEO of LVMH and Chairman of Christian Dior SE. In 2017, Arnault purchased all the remaining Christian Dior shares in a reported $13.1 billion buyout.<ref>Template:Cite web</ref>

At the end of 2017, the only declared major shareholder in LVMH was the Arnault Family Group, the holding company of Bernard Arnault. The group's control amounted to 46.84% of LVMH's stock and 63.13% of its voting rights.<ref name="RefDoc2009">Template:Cite web.</ref>

Senior leadership

Bernard Arnault has been LVMH's chairman and CEO since January 1989.<ref name=":0">Template:Cite web</ref> Alain Chevalier was chairman from 1987 until Arnault took over the role.<ref>Template:Cite web</ref>

In 2024, Stéphane Bianchi was appointed LVMH Group Managing Director, responsible for strategic and operational management of the Group Maisons. He also oversees the Regions Presidents, and the Digital and Data Transformation of the Group. In addition, he is also the Chairman of the LVMH Executive Committee.<ref name="Stéphane Bianchi GROUP MANAGING DIR">Template:Cite web</ref>

Total revenue for Q1 2025: €20,311 million, compared to €20,694 million in Q1 2024, a reported decrease of 2% and an organic decrease of 3% on a constant consolidation scope and currency basis<ref>Template:Cite web</ref>

Media group

In 2007, Arnault bought France's leading financial newspaper, Les Echos, from the British company Pearson for 240 million euros (US$262 million) after a negotiating period of four months.<ref>Template:Cite news</ref>

In 2015, LVMH bought the newspapers Le Parisien and Aujourd’hui en France from the Amaury Group. Marie-Odile Amaury, the group's owner, initially hoped for 200 million euros ($218 million) which were later revised to 150 million ($163 million) during a previous sale attempt, but a bid of 50 million euros ($54.5 million) was made.<ref>Template:Cite news</ref> The financial transaction was completed at the end of October 2015.<ref>Template:Cite news</ref>

In 2018, the Lagardère Group sold the stock market information website Boursier.com to Les Echos-Le Parisien Group.<ref>Template:Cite news</ref> In March 2018, Pierre Louette, former CEO of Agence France-Presse from 2005 to 2010, was named CEO of Les Echos-Le Parisien Group, succeeding Francis Morel, who had held this position for seven years.<ref>Template:Cite news</ref>

In 2022, Les Echos-Le Parisien Group acquired 75% of the share capital of the French polling and research institute OpinionWay, which has 140 employees.<ref name="OpinionW2022">Template:Cite news</ref>

Les Echos-Le Parisien Group also acquired Radio Classique, Connaissance des Arts,<ref name="OpinionW2022"/> and Investir and bought 50% of Medici.tv as well as Mezzo TV and EuroArts.<ref name="PL2022">Template:Cite news</ref><ref>Template:Cite web</ref> Les Echos-Le Parisien Group is also present in business services represented by its subsidiaries, such as Netexplo, Les Echos Etudes, and Les Echos Publishing, as well as communication services for companies such as Les Echos-Le Parisien Partenaires and Pelham Media.<ref name="PL2022"/> ChangeNow, Investir Day, and VivaTech (co-founded with Publicis) are subsidiaries whose objective is to offer trade shows and corporate events.<ref name="PL2022"/>

On August 6, 2024, the Competition Authority grants authorization to LVMH for the acquisition of Paris Match.<ref>Template:Cite web</ref> The group purchased the French weekly publication Paris Match in October 2024.<ref>Template:Cite web</ref>

Subsidiaries

A partial list, including some of LVMH's best-known brands and subsidiaries:<ref name="LVMH First half 2009 interim report" /><ref>Template:Cite web</ref>

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Wines and spirits

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Fashion and leather goods

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Perfumes and cosmetics

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Watches and jewelry

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Selective retailing

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Other activities

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E-commerce

In May 2018, LVMH launched an e-commerce initiative by investing in online fashion search business Lyst, as a way for LVMH's luxury brands to expand their presence online and capture younger shoppers.<ref>Template:Cite web</ref> LVMH contributed to Lyst's $60 million funding round, which also included access to LVMH's international expertise, designed to drive Lyst's global expansion.<ref>Template:Cite news</ref>

In May 2024, LVMH announced that it would expand its partnership with Alibaba to increase its presence in China.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Financial data

Financial data (in million euros) 2006<ref name="lvmh.com">Template:Cite web</ref> 2007<ref name="lvmh.com" /> 2008<ref name="lvmh.com" /> 2009<ref name="lvmh.com" /> 2010<ref name="AR2010" /> 2011 2012 2013 2014<ref name="Annual Report 2014">Template:Cite web</ref> 2015<ref name="Annual Report 2015">Template:Cite web</ref> 2016<ref name="Annual Report 2016">Template:Cite web</ref> 2017<ref name="Annual Report 2017">Template:Cite web</ref>
Sales 15,306 16,481 17,193 17,053 20,320 23,659 28,103 29,016 30,638 35,664 37,600 42,636
Net profit (before minority interests) 2,160 2,331 2,318 1,973 3,032 3,065 3,909 3,947 6,105 4,001 4,363 5,616
Total equity 11,594 12,528 13,887 14,785 18,204 23,512 25,666 27,907 23,003 25,799 27,903 30,260
Financial data (in million euros) 2018<ref name=":2">Template:Cite web</ref> 2019<ref name=":2" /> 2020<ref name=":2" /> 2021<ref name=":2" /> 2022<ref name=":2" /> 2023<ref name=":2" /> 2024<ref name=":2" />
Sales 46,826 53,670 44,651 64,215 79,184 86,153 84,863
Net profit (before minority interests) 6,354 7,171 4,702 12,036 12,036 15,174 12,550
Total equity 33,957 38,365 38,829 48,909 56,604 62,701 69,287

Sales by region

Region 2024 Sales in billion €<ref>Template:Cite web</ref> in %
Asia (excluding Japan) 23.25 27.5 %
United States 21.55 25.4%
Europe (excluding France) 14.54 17.2%
Japan 7.48 8.8%
France 7.01 8.3%
Other countries 10.86 12.8%

Philanthropy, sponsorships and events

Visual arts

LVMH is a major patron of art in France. The group supported about ten exhibitions as "Le grand monde d’Andy Warhol"<ref>Template:Cite web</ref> and "Picasso et les maîtres"<ref>Template:Cite web</ref> at le Grand Palais in Paris. LVMH also endorsed the patronage of "l'atelier d'Alberto Giacometti" and "Yves Klein" at Centre Georges Pompidou.

Since 2005, when the LVMH flagship store opened in Paris at 3, avenue George V, 75008, the company presented close collaborations with contemporary artists.<ref name="Exclusively for the Champs-Elysees">Template:Cite web</ref> Features included a light sculpture by American James Turrell, a 20-metre (65 feet) long "travelling staircase" showcasing the work of American video artist Tim White-Sobieski and an elevator linking the store to the top floor by Iceland's Olafur Eliasson.<ref name="BlouinARTINFO">Template:Cite web</ref>

In 2006, a gallery space was inaugurated on the second floor of the same building and named "Espace Culturel".<ref name="Espace Culturel">Template:Cite web</ref> "Icônes" was one of the first exhibitions.<ref>Template:Cite web</ref> Shigeru Ban, Sylvie Fleury, Zaha Hadid, Bruno Peinado, Andrée Putman, Ugo Rondinone, James Turrell, Tim White-Sobieski and Robert Wilson were the nine artists invited by Louis Vuitton to participate in it.<ref name="deeny">Template:Cite news</ref>

In addition, LVMH foundation created the "young creators LVMH award", an international competition opened to French and international beaux-arts students.<ref>Template:Cite web</ref> Each year, six grants are allocated to the winners.

In 2014, LVMH opened the Fondation Louis Vuitton pour la Creation in a new building designed by Frank Gehry in the Bois de Boulogne in Paris. The Fondation is designed as the Group's own museum to present its collections and organize major world-class art exhibitions.

Fashion

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In November 2013, LVMH created the LVMH Young Fashion Designer Prize, which comes with a €300,000 grant with a year of mentoring; it was the brainchild of Delphine Arnault.<ref name="LVMH to Establish Global Fashion Prize">Template:Cite web</ref> In February 2014 20 finalists for the inaugural prize were shown in London, including Simone Rocha, Thomas Tait, Meadham Kirchhoff, Marques'Almeida, J JS Lee, and others,<ref name="Delphine Arnault Unveils LVMH Prize Finalists">Template:Cite web</ref> and Thomas Tait was the winner.<ref name="friedman" /> Marques'Almeida won the 2015 prize.<ref name="friedman">Template:Cite news</ref> In 2019, South African designer Thebe Magugu became the first African to win the prize,<ref>Template:Cite web</ref> and was commended by the President of South Africa, Cyril Ramaphosa.<ref>Template:Cite web</ref>

LVMH underwrites other fashion competitions, including the Andam prize in France, the International Festival of Fashion and Photography in Hyères, France, an investment fund for young designers created by the French Ministry of Culture and Communication, and a scholarship program and sponsored lecture theater at Central Saint Martins in London.<ref name="LVMH to Establish Global Fashion Prize" />

Music

The group also lends Stradivarius violins to young talented musicians. Maxim Vengerov and Laurent Korcia have used the instruments.

Humanitarian aid

On 26 August 2019, Bernard Arnault declared that LVMH would donate $11 million to help fight the 2019 Brazil wildfires.<ref>Template:Cite web</ref> In 2021, UNESCO and LVMH launched the UNESCO x LVMH Project to protect critical rainforest within 8 biosphere reserves located in Bolivia (Pilón-Lajas and Beni Biosphere Reserves), Ecuador (Yasuní, Sumaco and Podocarpus-El Condor Biosphere Reserves), Brazil (Central Amazon Biosphere Reserve) and Peru (Manu and Oxapampa-Ashaninka-Yanesha Biosphere Reserves).<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

During the COVID-19 crisis, the group shifted its production of perfume and spirits towards hand sanitizer. This production of 12 tons has been offered to hospitals in Paris, France.<ref>Template:Cite news</ref>

In 2022, Louis Vuitton announced a €1 million donation to UNICEF to help the Ukrainian victims of the Russian invasion.<ref>Template:Cite web</ref> On 2 March 2022, LVMH Group pledged €5 million to the Red Cross to those affected by the war.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In addition, the company closed 124 of its stores in Russia.<ref>Template:Cite news</ref>

Sports

The 2024 Olympic medals created by Chaumet, a subsidiary of LVMH

LVMH sponsored the Paris 2024 Olympic and Paralympic Games as a premium partner.<ref name="vogue">Template:Cite web</ref> The company spent €150 million to seal the partnership. Chaumet jewelry company was responsible for the design of the medals; one of LVMH's fashion houses, Berluti, dressed the French delegation; and Moët Hennessy provided its products for the events.<ref>Template:Cite web</ref> Also as part of the partnership, LVMH participated in the activities of French Popular Relief, a charity organization that facilitates access to sport for 1,000 children and young people aged 4 to 25 living in vulnerable situations.<ref name="vogue" /> The group sponsored athletes, which includes French swimmer Leon Marchand, and its beauty retailer Sephora sponsored the Olympic torch relay.<ref>Template:Cite news</ref>

After Formula One's existing deal with Rolex expired in 2024, LVMH is set to re-enter the sport in 2025, investing $150 million annually in a multi-year deal. Through this partnership, TAG Heuer, having already sponsored the Monaco Grand Prix and Red Bull Racing Formula One teams, is set to return as Formula One timekeeper,<ref>Template:Cite web</ref> with Louis Vuitton set to sponsor the Australian Grand Prix from 2025 onward.<ref>Template:Cite web</ref>

Journées Particulières

Launched in 2011, Journées Particulières (Particular Days) is a biennial event which allows visitors to enter the various ateliers, studios, caves, and mansions owned by LVMH, for free.

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It is staged every two years and has opened doors in France, Italy, Switzerland, the UK, the Netherlands, Spain and Germany, with 56 brands welcoming guests into over 70 sites on four continents. The 2017 issue attracted 145,000 visitors.<ref name="deeny" />

Controversies

John Galliano's anti-semitism

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On 25 February 2011, Christian Dior announced they had suspended designer John Galliano following his arrest over an alleged anti-semitic tirade in a Paris bar.<ref>Template:Cite web</ref> In France, it is against the law to make anti-semitic remarks of this nature, and it can be punished by up to six months in prison.<ref>Template:Cite web</ref> On 1 March 2011, Christian Dior officially announced that it had fired Galliano amidst the controversy.<ref>Template:Cite web</ref>

Sebastian Suhl

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In 2012 former Prada COO Sebastian Suhl was hired by Givenchy as the company's new CEO.<ref>Template:Cite web</ref> The Asian Transnational Corporation Monitoring Network (ATNC), a network made of 15 organizations from 12 Asian countries wrote a letter of concern to LVMH Group's Bernard Arnault as Suhl was at the same time a key person in the Prada Female Discrimination Case where he was described as complicit in sexual harassment and discrimination practices.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

Corruption

During December 2021, LVMH paid €10 million to settle claims in Paris to end several criminal investigations that a former French intelligence chief, Bernard Squarcini, spied for the company, on competitors and others, including on journalist François Ruffin making a film about its billionaire owner, Bernard Arnault. Prosecutors allege that the intelligence chief used tactics like influence peddling, invasion of privacy, and leveraging his network in intelligence and police on behalf of the company.<ref>Template:Cite news</ref>

Fendi store openings 2023

Fendi has been very active in building new flagship stores in several places like Doha and Amsterdam.Template:Citation needed It has been claimed that in 2023 Fendi had not paid, or had only partially paid, invoices from their suppliers, with some amounts remaining outstanding for over a year.Template:Citation needed

2024 Olympic medals

LVMH faced controversy in 2025 when it was revealed that the Olympic medals created by subsidiary Chaumet for the 2024 Summer Olympics had begun to deteriorate and fall apart. By January 2025 over 100 Olympic medalists had requested replacement medals.<ref>Template:Cite news</ref>

2025 PETA Investigations

In April 2025, a set of investigations launched by PETA (People for the Ethical Treatment of Animals) uncovered disturbing practices at slaughterhouses that supply LVMH. PETA raised concerns about conscious snakes being inflated with water, struck with hammers, and cut with razors. They also reported that minks and foxes were raised in cramped and unsanitary conditions before being electrocuted, gassed, bludgeoned, or skinned alive.<ref>Template:Cite web</ref>

2025 Wine & Spirits Division financial crisis

In May 2025, The Financial Times reported that Moët Hennessy, LVMH’s wines and spirits division, had undergone a significant financial and strategic crisis under former CEO Philippe Schaus. The investigation cited a reversal from over €1 billion in cash flow in 2019 to a €1.5 billion cash burn in 2024, linked to aggressive price increases, a series of acquisitions, and cultural tensions within the group. The article also raised questions about LVMH’s executive oversight during this period.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>

See also

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References

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