LVMH
Updated: Wikipedia source
LVMH Moët Hennessy Louis Vuitton SE is a French multinational holding company and conglomerate that specializes in luxury goods and has its headquarters in Paris. The company was formed in 1987 through the merger of fashion house Louis Vuitton (founded in 1854) with Moët Hennessy, which had been established by the 1971 merger between the champagne producer Moët & Chandon (founded in 1743) and the cognac producer Hennessy (founded in 1765). In April 2023, LVMH became the first European company to surpass a valuation of $500 billion. In 2023, the company was ranked 47th in the Forbes Global 2000. LVMH controls around 60 subsidiaries that manage 75 luxury brands. In addition to Louis Vuitton and Moët Hennessy, LVMH's portfolio includes Christian Dior SE, Givenchy, Fendi, Celine, Kenzo, Tiffany & Co., Bulgari, Loewe, TAG Heuer, Marc Jacobs, Sephora and Loro Piana. The subsidiaries are often managed independently, under the umbrellas of six branches: Fashion Group, Wines and Spirits, Perfumes and Cosmetics, Watches and Jewelry, Selective Distribution, and Other Activities. LVMH owns Les Echos-Le Parisien Group, its media subsidiary. The wine estate of Château d'Yquem, whose origins date back to 1593, is under LVMH ownership. Bernard Arnault is the chairman, CEO and largest shareholder of LVMH, making him one of the richest people in the world as of 2023 and 2024.