LVMH Moët Hennessy • Louis Vuitton S.A.
Conglomerate
LVMH Moët Hennessy • Louis Vuitton S.A., more commonly referred to as to LVMH, is a French holding company as well as one of the world's largest luxury goods conglomerates based in Paris, France. It is the parent of over 60 sub-companies that manages a small number of prestigious brands. The group is active in five different sectors which are as follows: wines & spirits, fashion & leather goods, perfumes & cosmetics, watches & jewelry, and selective retailing. The group was formed after mergers brought together champagne producer Moët et Chandon and Hennessy. In 1987, they merged with fashion house [[Louis Vuitton]] to form the current group and currently employ around 77,000 people, or 30% of LVMH’s work staff in France. LVMH operates over 2,300 stores worldwide. Its current business plan aims to tightly control the brands it manages in order to maintain and heighten the perception of luxury relating to their products. LVMH is partly owned by the [[Christian Dior]] group. [[Bernard Arnault]] is Chairman and CEO of both companies as it was his successful integration of various famous aspirational brands into the group that inspired other luxury companies to do the same. An example of his influence could be noted in [[Gucci]] (now part of the French conglomerate [[PPR]]) and [[Richemont]] who have also created extended portfolios of luxury brands. The oldest of the LVMH brands is wine producer Château d'Yquem, which dates its origins back to 1593. In 2001 [[De Beers]] launched a joint venture with LVMH in order to establish the company as a retail brand. The group’s mission is to represent most refined qualities of Western "Art de Vivre" around the world. LVMH continues to be synonymous with both elegance and creativity. Their products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy. The five priorities that reflect the fundamental values shared by the entire group of stakeholders are as follows: be creative and innovate, aim for product excellence, bolster the image of their brands with passionate determination, act as entrepreneurs, and lastly strive to be the best.
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