LVMH increases Hermes stake to 20 percent

LVMH said Tuesday it had increased its stake in smaller rival Hermes to more than 20 percent, sparking fresh speculation about its ultimate intentions. Mr. Arnault surprised the family behind Hermès two months ago by announcing he had racked up a 17.1% stake in their company. LVMH said in a statement to the market regulator … Continued

The world’s first Louis Vuitton airport store

Shilla Duty Free has struck a landmark agreement to open the world’s first Louis Vuitton airport store, at Incheon International Airport. The luxury brand has traditionally rejected the airport retailing channel – though it is present in downtown travel retail through selected Gallerias run by fellow LVMH subsidiary DFS, and through high-class Korean retailers such … Continued

Hermes rejects LVMH foray, luxury battle in offing

Hermes rejected on Wednesday “an attack” on its capital by luxury goods giant LVMH, sounding the start of what could become a bitter battle for control of one of France’s most iconic brands. The head of LVMH, Bernard Arnault announced he had bought 17 percent of his rival Hermes, insisting that this does not herald … Continued

LVMH Takes Minority Stake in Hermès

Luxury conglomerate LVMH said Saturday it had taken a 14.2 percent stake in Hermes but denied it wanted to take over the French luxury goods firm. The company controlled by French businessman Bernard Arnault said it wanted to boost the stake to 17.1 percent at a total cost of 1.45 billion euros (two billion dollars) … Continued

Edun’s Bono and Ali Hewson in Louis Vuitton Ad

Bono and and his wife Ali Hewson star in the newest of Louis Vuitton’s “core values” ads shot by Annie Leibovitz. The couple, who were shot in South Africa, wear clothing by Edun, Hewson’s sustainable fashion line. in which LVMH took a 49 percent stake last year. it’s the first time the U2 front man … Continued

Champagne corks popping again in luxury business

Champagne corks are popping again in the luxury business as “It” bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis. As the owner of Gucci and Yves Saint Laurent, French luxury goods giant PPR, on Friday joined a string … Continued

Louis Vuitton opens first Lebanon store

French luxury designer Louis Vuitton opened its first boutique in the Lebanese capital Beirut on Thursday. “For many years, the maison has maintained strong relations with Lebanese clientele and is proud to reiterate its engagement by offering a new store which respects the Beirutis’ heritage and patrimony,” said brand executive manager Yves Carcelle at the … Continued

LVMH Chief Bernard Arnault Is France’s Richest Man

LVMH CEO Bernard Arnault, the man behind some of the world’s top luxury labels, has been officially named France’s richest man. Arnault’s fortune is estimated at 22.7 billion euros, ($28.6 billion) following a 55% increase in his net worth weekly magazine Challenges reported. Arnault took over the top slot from Gerard Mulliez and family, the … Continued

Luxury market rebounding

The luxury goods market is rebounding from the slump caused by the global recession, but analysts say upscale sellers will be facing a hard slog due to changing demographics and lingering consumer caution. Global luxury goods industry sales are expected to grow four percent in 2010 to 158 billion euros (195 billion dollars) after a … Continued

Top 10 Posts – Week In Review: April 5-12

In case you missed them the first time around, here are some of LUXUO’s top posts for the week of April 5-12. 1 – Louis Vuitton Parent LVMH to Launch Luxury Hotels Luxury goods giant LVMH Moet Hennessy Louis Vuitton Thursday said it is creating a high-end hotel management business that will be branded Cheval … Continued

LVMH Chooses SANAA for La Samaritaine Project

Japanese architecture firm Sanaa, winners of the prestigious Pritzker prize, will plan the conversion of iconic Parisian department store La Samaritaine to other uses, owners LVMH said in a statement. The firm, founded by Kazuyo Sejima and Ryue Nishizawa, is to present plans by the end of the year for converting the art deco building … Continued

LVMH To Launch Luxury Hotels

Ultra-luxury hoteliers can expect new competition from French luxury goods company LVMH Moet Hennessy Louis Vuitton, the Wall Street Journal reports. LVMH also said it created LVMH Hotel Management to “oversee the group’s activities in the luxury hotel sector” and to “maximise the value of its brands,”. Two new hotels, named Cheval Blanc after LVMH’s … Continued

eLuxury relaunches February 25

Former online shopping portal eLuxury, which closed last year, has been transformed into a web magazine called Nowness, officially launching Feb 25. According to the site’s owner, French luxe conglomerate LVMH, Nowness will be covering the fields of fashion, art, design, culture, travel, beauty, food and wine, music, and entertainment. In the run-up to its … Continued

Chinese sales boosts luxury goods market in 2009

Despite the economic crisis, 2009 ended better than it began for the French luxury goods sector, thanks largely to China’s growing taste for high-end products, encouraging thoughts of a better 2010. Following the trend set by other global luxury brands, Hermes and LVMH announced fourth quarter sales growth on Thursday and Friday, suggesting the worst … Continued

Tony Blair For Louis Vuitton?

Former U.K. prime minister Tony Blair is set to take on a highly-paid advisory role at at luxury goods group LVMH. Blair is understood to be in the final stages of negotiating a six-figure pay package at the group, which is owned by France’s richest man Bernard Arnault. Blair already gets £2.5m from the U.S. … Continued

eLuxury to be relaunched in 2010

Former online shopping portal eLuxury, has been transformed into a web magazine called Nowness, due to be up and running by beginning of January. According to the site’s owner, French luxe conglomerate LVMH, Nowness will be covering the fields of fashion, art, design, culture, travel, beauty, food and wine, music, and entertainment.

LVMH buys 50% share in Chateau Cheval Blanc

LVMH has bought a 50% stake in St-Emilion’s Château Cheval Blanc from its billionaire chairman and controlling shareholder, Bernard Arnault. However financial terms were not disclosed in the release, which pointedly failed to mention that LVMH was acquiring the Bordeaux wine from Arnault. Arnault, reputedly France’s richest man, bought Cheval-Blanc with Belgian businessman Albert Frère … Continued

French luxury group LVMH sees profit drop

France’s LVMH, the world’s biggest luxury group, on Monday reported a 23% profit drop for the first six months of 2009 to €687 million ($977 million). But the company’s turnover edged up 0.2% from the same time last year to €7.81 billion ($11.1 billion) despite a sharp drop in sales of drinks and jewellery. Watches … Continued

China’s luxury market can be tough to crack

China may become the world’s biggest luxury market in some years but cultural challenges to win customers’ hearts for certain types of products remain, industry executives said this week. Champagne house Taittinger said it could make high-end sparkling wine in China but the market was not ready for it yet… … while Lamborghini said the … Continued

Google Opens up Brand Name Bidding

Beginning June 15, 2009, Google is relaxing its policy on use of trademarks in ad copy text. In the past, Google has restricted the use of brand names in ad text and was willing to take action to prevent it which allowed you to authorize specific resellers to use your brand while restricting the remainder … Continued