History of LVMH in Timeline
LVMH Moët Hennessy Louis Vuitton, or LVMH, is a Parisian luxury goods conglomerate formed in 1987. The company resulted from the merger of Louis Vuitton with Moët Hennessy, itself a product of a 1971 merger between Moët & Chandon and Hennessy. A significant milestone was reached in April 2023 when LVMH became the first European company to exceed a $500 billion valuation. As of 2023, it holds the 47th position on the Forbes Global 2000 list.
1971: Moët Hennessy Established
Moët Hennessy was established in 1971 following the merger of champagne producer Moët & Chandon and cognac producer Hennessy.
1987: Alain Chevalier Appointed Chairman of LVMH
Alain Chevalier was appointed Chairman of LVMH in 1987, marking a significant leadership transition for the company.
1987: Formation of LVMH
LVMH was formed in 1987 through the merger of fashion house Louis Vuitton and Moët Hennessy.
1987: Merger and Leadership Struggle
The 1987 merger of Moet Hennessy and Louis Vuitton to form LVMH led to conflicts between leaders Alain Chevalier and Henri Racamier. Bernard Arnault's investment ultimately resulted in him taking control of LVMH.
January 1989: Bernard Arnault Becomes Chairman and CEO of LVMH
Marking a pivotal moment in the company's trajectory, Bernard Arnault assumed the roles of Chairman and CEO of LVMH in January 1989, succeeding Alain Chevalier, who had served as chairman since 1987.
1999: LVMH Acquires Make Up For Ever
LVMH acquired Make Up For Ever in 1999.
2005: LVMH Flagship Store Opens in Paris, Featuring Contemporary Art Collaborations
In 2005, LVMH inaugurated its flagship store in Paris on Avenue George V, showcasing a commitment to art and design through collaborations with renowned contemporary artists such as James Turrell, Tim White-Sobieski, and Olafur Eliasson.
2005: Pierre Louette Becomes CEO of Agence France-Presse
Pierre Louette assumed the role of CEO at Agence France-Presse in 2005, marking a significant career milestone.
2006: LVMH Opens "Espace Culturel" Gallery in Paris Flagship Store
Continuing its dedication to the arts, LVMH inaugurated the "Espace Culturel" gallery space on the second floor of its Paris flagship store in 2006, with the inaugural exhibition "Icônes" featuring works by prominent artists like Shigeru Ban, Sylvie Fleury, Zaha Hadid, and others.
2007: Arnault Acquires Les Echos Newspaper
Expanding his media influence, Bernard Arnault acquired France's leading financial newspaper, Les Echos, from British company Pearson for €240 million (US$262 million) in 2007 after four months of negotiations.
2009: LVMH Employs Over 83,000 People Globally
By 2009, LVMH had grown to employ over 83,000 people worldwide, with 30% of its workforce based in France, and operated more than 2,400 stores globally.
2009: LVMH Holds 66% of Moët Hennessy
In 2009, LVMH maintained a 66% ownership of its drinks division, Moët Hennessy, while the remaining 34% was held by Diageo.
2010: LVMH Records €20.3 Billion in Revenue
In 2010, LVMH's revenue reached €20.3 billion, with a net income exceeding €3 billion, demonstrating continued financial growth.
2010: Pierre Louette Concludes Tenure as CEO of Agence France-Presse
In 2010, Pierre Louette's tenure as CEO of Agence France-Presse came to an end.
February 2011: John Galliano Suspended by Christian Dior
In February 2011, Christian Dior suspended designer John Galliano after his arrest for an alleged anti-semitic tirade in a Paris bar. This action was taken due to the seriousness of the allegations and the legal implications of making such remarks in France.
March 2011: John Galliano Fired by Christian Dior
Following his arrest and suspension due to an alleged anti-semitic tirade in February 2011, John Galliano was officially fired by Christian Dior in March 2011.
March 2011: LVMH Acquires Bulgari
On March 7, 2011, LVMH announced its acquisition of a majority stake in Italian jeweler Bulgari for $5.2 billion.
2011: LVMH Launches Journées Particulières Event
In 2011, LVMH introduced a biennial event called "Journées Particulières" (Particular Days), offering the public free access to the company's ateliers, studios, caves, and mansions.
2012: Givenchy Appoints Sebastian Suhl as CEO Amidst Controversy
In 2012, Givenchy hired Sebastian Suhl, former Prada COO, as its new CEO. However, this appointment drew criticism due to Suhl's alleged involvement in a female discrimination case during his time at Prada, raising concerns about potential workplace harassment and discrimination.
2012: LVMH Establishes LCapitalAsia and Adjusts China Strategy
LVMH launched LCapitalAsia, a private-equity arm focused on Asia, in 2012. The company also experienced slowed sales growth and decided to halt store openings in smaller Chinese cities, adapting to changing consumer trends.
March 2013: LVMH Invests in QDA Brand
In March 2013, LVMH's LCapitalAsia partnered with Chinese apparel company Xin Hee Co., Ltd. to launch the first QDA store in Beijing.
November 2013: LVMH Creates Young Fashion Designer Prize
In November 2013, LVMH launched the Young Fashion Designer Prize, the brainchild of Delphine Arnault, offering emerging talents a €300,000 grant and a year of mentorship, reflecting the company's dedication to fostering the next generation of fashion designers.
2013: Christian Dior SE Holds Majority Stake in LVMH
As of 2013, Christian Dior SE emerged as the primary holding company for LVMH, owning 40.9% of its shares and 59.01% of its voting rights.
2013: LVMH Ranked First in Deloitte's "Global Powers of Luxury Goods"
Solidifying its position as a leading luxury goods company, LVMH achieved the top ranking in Deloitte's "Global Powers of Luxury Goods" report in 2013, with a revenue of $21.7 billion.
February 2014: LVMH Partners with Marco De Vincenzo
LVMH formed a joint venture with Italian fashion brand Marco De Vincenzo in February 2014, acquiring a 45% stake.
February 2014: First LVMH Young Fashion Designer Prize Awarded to Thomas Tait
The inaugural LVMH Young Fashion Designer Prize, featuring 20 finalists, was presented in London in February 2014, with Thomas Tait emerging as the winner.
2014: Fondation Louis Vuitton pour la Creation Opens in Paris
In a testament to its commitment to art and culture, LVMH opened the Fondation Louis Vuitton pour la Creation in 2014, housed in a striking new building designed by Frank Gehry in Paris's Bois de Boulogne, to showcase the Group's art collections and host world-class exhibitions.
October 2015: LVMH Acquires Le Parisien and Aujourd’hui en France Newspapers
LVMH further expanded its media holdings by acquiring the newspapers Le Parisien and Aujourd’hui en France from the Amaury Group in October 2015 for a reported €50 million (US$54.5 million), significantly less than the initial asking price.
2015: Marques'Almeida Wins LVMH Young Fashion Designer Prize
The LVMH Young Fashion Designer Prize continued to recognize exceptional talent, with Marques'Almeida receiving the award in 2015.
February 2016: LVMH Share Value Reaches €78.1 Billion
LVMH's share value reached €78.1 billion, distributed in over 506 million shares by February 29, 2016.
2016: LVMH-Backed Firms Acquire Stake in GXG
L Catterton Asia and Crescent Point, private equity firms supported by LVMH, acquired a majority stake in GXG in 2016.
April 2017: LVMH Acquires Christian Dior Lines
LVMH announced its acquisition of various Christian Dior lines, including haute couture, leather goods, and ready-to-wear, in April 2017, integrating the brand within its luxury group.
2017: Arnault Family Group Becomes Major Shareholder in LVMH
By the end of 2017, the Arnault Family Group, led by Bernard Arnault, became the only publicly disclosed major shareholder in LVMH, holding 46.84% of the company's stock and 63.13% of its voting rights, demonstrating a significant concentration of ownership.
2017: Bernard Arnault Acquires Remaining Christian Dior Shares
In a strategic move to consolidate his control, Bernard Arnault acquired the remaining shares of Christian Dior in 2017 for a reported $13.1 billion, further solidifying his influence over the luxury conglomerate.
2017: Journées Particulières Attracts 145,000 Visitors
The 2017 edition of LVMH's Journées Particulières event attracted a record-breaking 145,000 visitors, showcasing the public's growing interest in the craftsmanship and heritage of the luxury conglomerate.
January 2018: LVMH Reports Record Sales
LVMH announced record sales of 42.6 billion euros in 2017, marking a 13% increase, with strong performance across all divisions. Net profit also rose by 29%.
March 2018: Pierre Louette Appointed CEO of Les Echos-Le Parisien Group
Pierre Louette, former CEO of Agence France-Presse, was appointed as the new CEO of Les Echos-Le Parisien Group in March 2018, succeeding Francis Morel.
May 2018: LVMH Invests in Online Fashion Search Business Lyst
In a strategic move to expand its digital presence and engage younger consumers, LVMH invested in online fashion search platform Lyst in May 2018, contributing to Lyst's $60 million funding round.
November 2018: Death of Alain Chevalier
Alain Chevalier, co-founder of LVMH, passed away at the age of 87 on November 1, 2018.
May 2019: Launch of Fenty Fashion House
May 2019 saw the launch of Fenty, a fashion house created by singer Rihanna, in partnership with LVMH. This marked LVMH's first new fashion house in 32 years and made Rihanna the first woman of color to lead an LVMH brand.
July 2019: LVMH Partners with Stella McCartney
In July 2019, LVMH announced a new partnership aimed at further developing the Stella McCartney House.
August 2019: LVMH Donates $11 Million to Fight Brazil Wildfires
In a display of corporate social responsibility, Bernard Arnault, on behalf of LVMH, announced a significant donation of $11 million in August 2019 to support efforts to combat the devastating wildfires in Brazil.
November 2019: LVMH Acquires Stake in Château d'Esclans and Plans to Acquire Tiffany & Co.
LVMH announced its acquisition of a 55% stake in Château d'Esclans, known for its Whispering Angel rosé, in November 2019, expanding its high-end wine portfolio. The same month, LVMH revealed plans to acquire Tiffany & Co. for $16.2 billion, with an anticipated closing date in June 2020.
2019: Thebe Magugu Becomes First African to Win LVMH Young Fashion Designer Prize
Making history in the fashion world, South African designer Thebe Magugu became the first African recipient of the LVMH Young Fashion Designer Prize in 2019, receiving praise from South African President Cyril Ramaphosa.
September 2020: LVMH Withdraws from Tiffany & Co. Acquisition
LVMH announced in September 2020 that it would not proceed with the acquisition of Tiffany & Co., citing the latter's mismanagement during the COVID-19 pandemic. Tiffany filed a lawsuit to enforce the purchase or seek damages, leading to a countersuit from LVMH, alleging mismanagement that voided the agreement.
October 2020: LVMH and Tiffany & Co. Agree to Revised Acquisition
Tiffany & Co. and LVMH reached an agreement in late October 2020 to revert to the original takeover plan, but with a slightly reduced price of nearly $16 billion, down from the initial $16.2 billion.
December 2020: LVMH Achieves Record Market Capitalization
By late 2020, LVMH had the highest market capitalization of any company in France and the Eurozone, reaching a record 261 billion euros ($317.6 billion). Bernard Arnault's personal net worth was nearly half of that, at $151.7 billion.
January 2021: LVMH Completes Tiffany & Co. Acquisition and Becomes Europe's Most Valuable Company
LVMH finalized its acquisition of Tiffany & Co. in January 2021. The same year, the company reached a valuation of $329 billion, solidifying its position as the most valuable company in Europe.
December 2021: LVMH Settles Espionage Case
In December 2021, LVMH agreed to pay €10 million to settle criminal investigations in Paris. The investigations centered on allegations that a former French intelligence chief, Bernard Squarcini, conducted espionage on behalf of LVMH, targeting competitors, activists, and even the company's billionaire owner, Bernard Arnault.
January 2022: LVMH Invests in Aimé Leon Dore
LVMH, through its LVMH Luxury Ventures arm, made an undisclosed investment in New York-based label Aimé Leon Dore in January 2022.
March 2022: LVMH Responds to Ukraine Crisis with Donations and Store Closures in Russia
In response to the humanitarian crisis in Ukraine following the Russian invasion, LVMH and Louis Vuitton made substantial donations to UNICEF and the Red Cross in March 2022, demonstrating their commitment to supporting those affected by the conflict.
November 2022: LVMH Acquires Pedemonte Group
In November 2022, LVMH acquired the Piedmont-based jewelry maker Pedemonte Group.
2022: Les Echos-Le Parisien Group Acquires Majority Stake in OpinionWay
In a strategic move to expand its research and data capabilities, Les Echos-Le Parisien Group, owned by LVMH, acquired a 75% stake in the French polling and research institute OpinionWay in 2022.
April 2023: LVMH Surpasses $500 Billion Valuation
In April 2023, LVMH made history by becoming the first European company to reach a valuation exceeding $500 billion.
April 2023: LVMH Becomes First European Company to Reach $500 Billion Valuation
In a groundbreaking achievement for the European market, LVMH reached a $500 billion valuation in April 2023, marking a significant milestone in the company's history.
November 2023: LVMH Acquires Eyewear Brand Barton Perreira
Expanding its portfolio in the eyewear sector, LVMH acquired Los Angeles-based brand Barton Perreira for $80 million in November 2023.
2023: Fendi Faces Allegations of Unpaid Supplier Invoices
During 2023, while actively expanding its global presence with new flagship stores, Fendi faced claims of failing to pay or partially paying suppliers, with some outstanding invoices dating back over a year.
2024: Bernard Arnault Becomes World's Richest Person
In 2024, Bernard Arnault, founder, chairman, CEO, and largest shareholder of LVMH, became the world's richest person.
2024: Stéphane Bianchi Appointed LVMH Group Managing Director
In 2024, Stéphane Bianchi was appointed to the position of LVMH Group Managing Director, assuming responsibilities for the strategic and operational management of the Group's Maisons.
2024: LVMH Becomes Premium Partner of Paris 2024 Olympic and Paralympic Games
In a landmark partnership, LVMH committed €150 million to become a premium partner of the Paris 2024 Olympic and Paralympic Games, signifying its support for the world of sports and its dedication to its home country, France.
