LVMH Market Value Exceeds $500B; First European Company To Hit The Milestone

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  • LVMH-Moet Hennessy Louis Vuitton LVMHF, the French fashion giant, has become the first European company to surpass the $500 billion market value. 
  • The company's thriving sales in China after reopening from pandemic lockdowns, along with strength in Euro, helped it achieve this milestone, says Bloomberg.
  • The positive news comes less than two weeks after LVMH became one of the 10 biggest companies globally. 
  • LVMH is witnessing huge for several products, including Louis Vuitton handbags, Moet & Chandon Champagne, and Christian Dior gowns among them, despite higher inflation and increasing interest rates.
  • According to the report, the escalating worth of LVMH has boosted the wealth of the world's richest person, Bernard Arnault, whose fortune stands at around $212 billion.
  • Bernard Arnault has established LVMH as a global powerhouse through a series of value accretive acquisitions. 
  • Price Action: LVMHF shares closed higher by 1.36% at $1,000.00 on Friday.
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