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The French giant attributed this decline to post-COVID-19 normalization, high inventory levels among retailers, and a slowdown in Hennessy cognac sales in the United States. LVMH, the world’s largest luxury conglomerate, experienced a significant drop in its shares on Wednesday following a disappointing financial earnings report for the third quarter (Q3)
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As LVMH records new levels in market valuation, its CEO and co-founder of the company is currently the world’s richest person. Luxury goods company LVMH has become the first European company to exceed $500 billion in market value. LVMH, which engages in the design, manufacture, and sale of luxury products globally, is
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For LVMH, a task to convince other luxury brands to join the blockchain movement has been a difficult one. Luxury goods company LVMH has suggested that luxury brands are dependent on blockchain technology to improve the lifecycle of their products. According to Franck Le Moal, the Chief Information Officer (CIO) of
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Italy’s OTB Group, the owner of fashion brands Diesel, Jil Sander and Viktor & Rolf is the latest luxury goods company to join the Aura Blockchain Consortium as a founding member.In April, Louis Vuitton’s parent firm, LVMH, Prada and Richemont-owned Cartier unveiled the Aura Blockchain Consortium, a network developed in
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LVMH saw its business cramble last year amidst the COVID-19 pandemic as many governments across the world forced retail shops and businesses to close down.LVMH Moët Hennessy Louis Vuitton (EPA: MC) shares saw a 1.3% rise in the early trading session on January 27, after its fashion business brand Louis
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The revolving door between traditional finance and the crypto space is well established. Now, executives from the luxury goods sector appear to be following in their steps.Ian Rogers, formerly the chief digital officer at LMVH, is taking on a new role as “chief experience officer” at Ledger, the well-known French
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LVMH has now decided to settle for a less in its acquisition of Tiffany & Co, ending a bitter dispute that the COVID-19 pandemic triggered.Today, LVMH, the world’s leading luxury products group, and Tiffany & Co (NYSE: TIF), the global luxury jeweler, agreed to salvage the luxury sector’s biggest-ever deal through
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LVMH and Tiffany signed a merger agreement in November 2019. However, it has become known that this deal will not have a bright future.Paris-based Loui Vuitton owner LVMH Moet Hennessy Louis Vuitton SE (EPA: MC) has revealed it will be backing out from its proposed deal with United States jewelry
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LVMH CEO and Chairman Bernard Arnault says that the company showed exceptional resilience to the serious crisis the world suffered in the first half of 2020.After the market closed on the 27th of July, LVMH Moët Hennessy Louis Vuitton revealed its financial results for the first half of 2020. The
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