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LVMH

Louis Vuitton packs its trunk and leaves the Red Square

November 29, 2013

Following public outcry, Louis Vuitton, controlled by France's Arnault family via their juggernaut LVMH, has dismantled a giant promotional replica of one of its trunks in Moscow's Red Square – just days after it was erected.

The luxury luggage company had built the structure to house an exhibition, due to open on 2 December, to celebrate its 120th anniversary.

Louis Vuitton causes controversy in Russia's Red Square

November 27, 2013

Louis Vuitton, a subsidiary of the Arnault family's luxury-goods giant LVMH, has ruffled feathers in Moscow this week by installing a giant monogrammed suitcase mere metres from the mummified body of former leader Vladimir Lenin.

The replica of its iconic travelling trunk will house a temporary museum, due to open in just under a week, which will document the company’s 120-year history.

LVMH launches fashion award

November 21, 2013

Leading luxury family empire LVMH has launched an initiative this week to support young designers.

Announced by second-gen Delphine Arnault, the international award is open to designers 40-years-old or younger, who have already created two ready-to-wear men’s or women’s collections.

A panel of judges, including Karl Lagerfield and Marc Jacobs will decide on the winner, who will receive €300,000 to invest in their fashion company and support from a team of experts from LVMH to help them develop it over a period of 12 months.

Eccentric heiress’s travel pieces up for grabs

November 4, 2013

One of the most important travel piece commissions for Louis Vuitton second-gen, Georges Vuitton, is to be auctioned off in Paris this week.

The three trunks and tilbury carriage were produced in 1910 for eccentric explorer Blanche de Clermont-Tonnerre, who used it in her travels to India, China, Siberia, Iraq and Persia.

Vuitton was commissioned to produce three trunks, covered in the brand’s then famous red leather, while V Morel produced the carriage.

LVMH drops appeal against fine for Hermes stake

September 4, 2013

French luxury group LVMH has announced it is abandoning its appeal against the record-breaking fine it incurred for its secret stake in rival luxury house Hermes.

LVMH remained defiant, however, saying in a statement that it still disputed the ruling but had to consider the time and cost of further proceedings and focus on the management of its slice of Hermes.

Bernard Arnault's giant was hit with an €8 million penalty from the French financial regulator Autorite des Marches Financiers in early July for failing to comply with disclosure rules.

LVMH gets €8 million record fine for Hermes stake

July 2, 2013

LVMH has been fined €8 million by the French financial regulator for the clandestine stake it built up in rival luxury family business Hermes – the largest fine ever issued by the Autorite des Marches Financiers.

The AMF enforcement committee said it made the ruling after considering the "seriousness of the successive breaches of public disclosure requirements, which consisted [of] concealing each stage of LVMH's stake-building in Hermes".

Delphine Arnault's new Louis Vuitton role

June 26, 2013

French luxury goods group LVMH has announced Delphine Arnault will take a top role at Louis Vuitton – one of the largest luxury brands in the world.

Her father, Bernard Arnault, is the chairman and chief executive of LVMH and the wealthiest person in France. The group is responsible for 60 luxury brands that span fashion, watches and champagne.

Arnault, 38, currently works as deputy general manager at Dior – the majority shareholder in LVMH – but will take up her new post in September. Her new position will be similar to her role at Dior.

LVMH could face big fine over 'secret' Hermes stake

May 22, 2013

Bernard Arnault's luxury goods powerhouse LVMH could face a big fine if it is found to be in breach of financial regulations over its stake in rival family business Hermes.

A spokesman for the French financial regulator Autorite des Marches Financiers said it was unable to comment on the detail of the case so close to the committee hearing on 31 May, but said LVMH would face a fine if in breach of AMF regulations.

LVMH in the picture

May 1, 2013

Luxury goods giant LVMH is sponsoring the digital restoration of classic 1960s French film The Umbrellas of Cherbourg, which will be shown at the Cannes Film Festival.

Luxury goods giant LVMH is sponsoring the digital restoration of classic 1960s French film The Umbrellas of Cherbourg, which will be shown at the Cannes Film Festival.

The film (a still from the film, pictured), which was directed by Jacques Demy in 1964 and starred Catherine Deneuve, won the Palme d'Or at Cannes in 1964. It was nominated for five Oscars.

LVMH says the move is part of its commitment to the cultural and creative heritage of France and Europe.

Arnault gives up citizenship bid, blasts French business culture

April 11, 2013

Bernard Arnault, second-gen chief executive of LVMH and France's richest man, has withdrawn his application for Belgian citizenship following continued accusations that he was trying to avoid the new 75% tax levied on incomes of more than €1 million.

"I explained several times that I would remain a resident in France and that I would continue to pay my taxes there. In vain – the message did not get through," Arnault told French newspaper Le Monde in an interview on 10 April.