The merger company Moët Hennessy Louis Vuitton SE, better known as LVMH, is a European multinational luxury goods conglomerate native of France and headquartered in Paris that was formed in 1987. Basically, It controls around 60 subsidiaries that each manage a small number of high-end brands such as Dior, Kenzo, Berluti, Louis Vuitton, Givenchy, Fendi etc.
European shares dipped in October 2017, following a slightly weaker recession on Wall Street as stocks tired from a streak of record highs, but strong results from luxury group LVMH helped support stocks across the consumer goods sector. What you need to know is, the luxury brand sector carried the failures of wall street when they hit yet again another economic meltdown.
Third-quarter results began trickling in, with a strong beat from LVMH driving stocks across the luxury and consumer sectors higher. Shares in the world’s biggest luxury group rose 1.8 percent after it beat sales and revenue forecasts in its third quarter, setting a high hurdle for European luxury peers to beat.