Pins matching tag:"Bernard Arnault"

LVMH finalized its purchase of Tiffany & Co. at $131.50 a share in cash, a total of $15.8 billion, and immediately named Anthony Ledru as Tiffany's CEO and Alexandre Arnault as its product and communications chief.

LVMH announced a Premium Partnership with the Paris 2024 Olympic and Paralympic Games, with Chaumet designing the medals and Louis Vuitton, Dior, Moët Hennessy and other Maisons taking roles across the Games, reportedly worth around €150 million.

LVMH shareholders approved raising the company's chairman-and-CEO age limit from 80 to 85 with 99.18% of the vote, clearing Bernard Arnault, then 76, to keep running the group without having named a successor.

LVMH's full-year 2025 revenue fell 5% on a reported basis to €80.8 billion, with organic revenue down 1%, as profit from recurring operations came to €17.8 billion and net profit held at €10.9 billion.

LVMH's first-quarter 2026 revenue fell 6% on a reported basis to €19.1 billion, though organic revenue still grew 1%, as the group said the conflict in the Middle East cut about a point off underlying growth.

LVMH is next expected to report third-quarter 2026 revenue in mid-to-late October, the release that will show whether the organic growth seen in the first half continued into the autumn.