Investing.com – Luxury giant Moët Hennessy Louis Vuitton LVMH, more commonly known as “Louis Vuitton (EPA:LVMH)” LVMH, has grown into a $500 billion powerhouse conglomerate with nearly 75 distinct brands, or “fashion houses” Rooted across six different sectors – with no plans to slow down.
The highest level and the story of the half trillion dollars / h2
The company reported revenues of 79.2 billion euros, or about $86.3 billion, last year, an increase of 23% over 2021 revenues. The number of its stores has more than quintupled over the past two decades, with locations in 81 countries and more than 196,000 employees worldwide.
Its stock hit an all-time high in April of over $199 a share, making the Paris-headquartered company the first European company to pass $500 billion in market capitalization.
Some experts have long hailed the company as “recession-proof,” able to sustain itself through an economic downturn and boast products that value uniquely over time.
Read also | Urgent: The Federal Reserve is commenting on the data released a while ago… an important signal regarding the interest rate
The richest person in the world..and the game of long breath / h2
Bernard Arnault, CEO of LVMH, the richest person in the world according to the Forbes Real-Time Billionaires Index, heads the company’s management.
Some say Arnault’s strength lies in identifying long-lived companies. Its most recent acquisition was Tiffany & Co. for $15.8 billion in 2021.
“When he talks about potential acquisitions, he’s not looking for the brand that’s hottest right now, he’s looking for a brand that he thinks could be here 100 years from now,” said Anish Melwani, Chairman and CEO of LVMH North America. .
LVMH is playing the “long game”, through Arnault, said Oliver Chen, managing director at TD Kwon. This, he said, keeps the company’s brands in good standing in terms of integrity, awareness and relevance.
Although run by LVMH, each house maintains creative control of its own brand, with its own executives and missions.
Melwani said, “The loss of efficiency is what other companies would do where they would put a bunch of brands together and have one person run it, and what we get is that real managerial responsibility.”
Read also | Urgent: A shocking report reveals fraud and manipulation of the weekly unemployment data
watched| The bankruptcy of the largest economy in the world… What is the US debt ceiling crisis, and what if America falls?/h2
Get the app
Join the millions of users who get the latest market news at full speed on Investing.com