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This morning, LVMH, the world’s leading luxury goods company, exceeded 400 billion euros in market capitalization on the Paris Stock Exchange. This is the first time a European company has reached this threshold.
In the morning, the LVMH share price reached a new record high of 795.70 euros (+0.38%). Since the beginning of 2023, it has risen by 16%, boosted by China’s economic reopening. By 13:40, it had fallen to 791.40 euros, down 0.15% over the session.
The French group’s capitalization, or the amount it would take to buy all of LVMH’s shares, reached about 400.4 billion euros (or about $433 billion).
This is the first time that a European company in the luxury sector has been valued so highly on the European stock market. It is ahead of the food giant Nestlé and the Danish pharmaceutical company Novo Nordisk.
Even if its market capitalization is important, it is not a match for the GAFAMs, such as Apple, valued at 2,130 billion dollars last Friday at the American close. Nevertheless, it is the 12th best valued company in the world according to Bloomberg. And thanks to this, Bernard Arnault has become the richest man on the planet, surpassing Elon Musk.
“The reopening of China is one of the major trends for the luxury sector in 2023,” remind analysts from the Royal Bank of Canada. They also indicate that “a recovery trajectory for luxury demand in China” should be considered.
Read also >CAC 40 rises sharply as the luxury sector benefits from the lifting of restrictions in China
Orient Express, the Accor Group subsidiary it acquired in 2017, plans to order two sailboats from the Atlantic shipyards, with first delivery expected in 2026.
In the morning, the LVMH share price reached a new record high of 795.70 euros (+0.38%). Since the beginning of 2023, it has risen by 16%, boosted by China’s economic reopening. By 13:40, it had fallen to 791.40 euros, down 0.15% over the session.
The French group’s capitalization, or the amount it would take to buy all of LVMH’s shares, reached about 400.4 billion euros (or about $433 billion).
This is the first time that a European company in the luxury sector has been valued so highly on the European stock market. It is ahead of the food giant Nestlé and the Danish pharmaceutical company Novo Nordisk.
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Orient Express, the Accor Group subsidiary it acquired in 2017, plans to order two sailboats from the Atlantic shipyards, with first delivery expected in 2026.
In the morning, the LVMH share price reached a new record high of 795.70 euros (+0.38%). Since the beginning of 2023, it has risen by 16%, boosted by China’s economic reopening. By 13:40, it had fallen to 791.40 euros, down 0.15% over the session.
The French group’s capitalization, or the amount it would take to buy all of LVMH’s shares, reached about 400.4 billion euros (or about $433 billion).
This is the first time that a European company in the luxury sector has been valued so highly on the European stock market. It is ahead of the food giant Nestlé and the Danish pharmaceutical company Novo Nordisk.
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