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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) [...]

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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 [...]

francois-henri-pinault

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 [...]

louis-vuitton-beirut

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 [...]

bernard-arnault

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 [...]

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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 [...]

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