Topic: Moët Hennessy Louis Vuitton (LVMH Group) (2024)

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    • Moët Hennessy Louis Vuitton, more commonly referred to as LVMH Group, is a French luxury goods conglomerate. The company is primarily known for its fashion house, known as simply Louis Vuitton, named after its founder. The group operates globally, selling luxury leather goods, handbags, ready-to-wear fashion, and other fashion accessories. Since 1989, the company has been run by Frenchman Bernard Arnault, following the merger of the luxury goods producer with champagne producer Moët & Chandon and cognac manufacturer Hennessy.

    The world's most valuable brand

    Louis Vuitton is currently the most valuable luxury brand in the world, running ahead of the other heavy weights of the luxury goods industry, such as Chanel and Gucci. In 2022, LVMH Group’s fashion and leather goods segment brought in over 38 billion euros in global sales, an impressive figure that signals the recovery of the global personal luxury goods industry from the impact of the pandemic. Fashion and leather goods was the most resilient business segment for LVMH, since the group's other lines including watches and jewelry and wine and spirit segments showed only slight improvement on the previous year.

    LVMH Group continues to open more stores worldwide, with around 88 new stores opening between 2019 and 2020 despite the pandemic. In 2022, there were more than 600 new locations added to the LVMH store portfolio. Employee numbers continued to increase for the company as well. In fact, over the past 13 years, the number of employees dropped for the first time during the 2016 reporting period. The employee count has since bounced back, and grown to 190,000 as of 2022.

    Competitors

    Kering, Richemont, and LVMH are considered the greatest three names of the luxury goods industry. Like LVMH, the most recent financial year indicated good earnings for the Kering Group and Richemont in terms of increased sales performance as pandemic-related travel restrictions were eased and more people were able to travel abroad. The Kering Group owns some of the most influential luxury fashion brands like Gucci, while Richemont is the parent company to a number of luxury jewelry and watchmaker maisons including Cartier and IWC Schaffhausen.

    This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

    Tugba Sabanoglu

    Research lead covering Non-food CG & Retail

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    Published by Tugba Sabanoglu, Aug 31, 2023

    Key insights

    Value of the personal luxury goods market worldwide
    353bn EUR

    Topic: Moët Hennessy Louis Vuitton (LVMH Group) (2)

    Detailed statistics

    Value of the global personal luxury goods market 1996-2022

    Leading luxury goods company worldwide based on sales
    LVMH Moët Hennessy-Louis Vuitton

    Topic: Moët Hennessy Louis Vuitton (LVMH Group) (3)

    Detailed statistics

    Sales of the leading luxury goods companies worldwide 2022

    Brand value of the Louis Vuitton
    124.3bn USD

    Topic: Moët Hennessy Louis Vuitton (LVMH Group) (4)

    Detailed statistics

    Most valuable global luxury brands 2022

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    Topic: Moët Hennessy Louis Vuitton (LVMH Group) (43)

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    Topic: Moët Hennessy Louis Vuitton (LVMH Group) (2024)
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