LVMH's Value Nears $500 Billion, Enters World's Top 10
This article from Bloomberg may be of interest to subscribers. Here is a section:
LVMH, Europe’s largest company by market value, has now made it to the world’s top 10.
A first-quarter sales beat sparked a 5% increase in the share price Thursday, giving the luxury powerhouse a 29% rally for the year. That, along with a gain in the euro against the dollar, lifted LVMH’s market capitalization to $486 billion, briefly ranking it as the world’s 10th-biggest company. Should it reach $500 billion, it would become the first European company to achieve that milestone.
Luxury goods represent an interesting paradox which must be among the marketing profession’s greatest triumphs. They have created an aura of desirability, mystique and aspiration for items that are not in limited supply. Of course, companies like Hermes ensure their most desirable bags are very hard to purchase, but the entire sector rides on the coattails of that limited supply argument.Click HERE to subscribe to Fuller Treacy Money Back to top