Luxury Shares: LVMH Loses Place as France's Most Valuable Company
4 Articles
4 Articles
The group behind Louis Vuitton is no longer one of the ten most valuable stock exchanges in Europe. The global crisis in the luxury sector also affects the assets of the owner family.
Due to the contraction in the global luxury consumer market, particularly in China, LVMH's market value decreased, causing it to drop out of the top 10 largest companies in Europe; its Chairman, Bernard Arnault, also lost his place among the top 10 billionaires with a loss of $65 billion.
Luxury conglomerate LVMH, which owns Louis Vuitton, is no longer the largest company on the Paris Stock Exchange. A 2 percent loss on Tuesday means its market capitalization falls below former runner-up L’Oréal.
LVMH Drops Out of the Top 10 Largest Companies in Europe: Luxury Goods Sales Contraction Is Growing.
Once the most valuable company on the European stock exchange, LVMH has lost its place among the top 10 largest companies in Europe due to the sharp slowdown in the luxury consumer goods sector. The decline in the company's market value reveals the extent of weakness in luxury consumption, particularly stemming from China, and the shift in global demand.
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