LVMH Moet Hennessy Louis Vuitton

LVMH Moët Hennessy Louis Vuitton SE engages in the manufacture of luxury goods. It operates through the following business segments: Wines & Spirits, Fashion & Leather Goods, Perfumes & Cosmetics, Watches & Jewelry, Selective Retailing, and Other Activities & Eliminations. The Wines & Spirits segment produces and sells high quality champagne wines and sparkling wines. It also distributes vodka and white liquor. The Fashion & Leather Goods segment engages in the manufacture of luggage items, bags, accessories, shoes and clothes. The Perfumes & Cosmetics segment engages in the production and distribution of make-up, perfume and skin care products. The Watches & Jewelry segment manufactures luxury watches and accessories for men and women. It specializes in the field of chronographs and ultimate precision. The Selective Retailing segment is organized to promote an environment that is appropriate to the image and status of the luxury brands. It engages in the sale of luxury products to international travelers and on board cruise ships. This segment also manages beauty stores that combine direct access and customer assistance to customers. The Other Activities & Eliminations segment includes media division. It publishes newspapers and magazines, manages business and financial websites and holds radio stations. This segment also engages in the real estate industry and builds luxury yachts. The company was founded on January 1, 1987 and is headquartered in Paris, France.

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Shares of software giant SAP powered higher in Europe on Wednesday, lifted by a positive financial update, while equally upbeat news drove up stock in LVMH Moet Hennessey, adding to the wealth pile of the world's third-richest person.

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Shares in LVMH were flat in early trading on Wednesday after the French luxury giant posted a strong rise in sales in its fashion and leather goods division in the third quarter.

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Sales at French luxury giant LVMH grew by 20% in the third quarter, fuelled by appetite for high-end fashion from consumers eager to splash out following months of pandemic lockdowns.

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LVMH's shares eged higher on Tuesday after the world's biggest luxury goods group posted higher sales and profits, driven by surging sales of fashion lines and handbags by Dior, Fendi and Louis Vuitton.

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Surging sales of Louis Vuitton handbags and Dior clothing powered stellar revenue growth at French luxury giant LVMH in the second quarter of this year, as coronavirus restrictions eased around the world.

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LVMH is a leading luxury items company hosting many brands. The company's valuation is high at the moment, yet the quality can't be ignored.

News for LVMH Moet Hennessy Louis Vuitton Stock (LVMUY)