LVMH became the first European luxury-goods company to reach a US$500 billion market capitalization in April 2023.
The milestone reflected investor enthusiasm for the group’s luxury brands and its strong exposure to global spending on fashion, jewelry, watches, wines, and spirits. LVMH’s market value reached about US$500 billion in April 2023 as its shares traded in Paris.
LVMH stands for Louis Vuitton Moët Hennessy. The group was formed in 1987 through the merger of fashion house Louis Vuitton with wine and spirits company Moët Hennessy. Its portfolio includes Louis Vuitton, Christian Dior, Fendi, Bulgari, Tiffany & Co., Moët & Chandon, and Hennessy.
Market capitalization is affected by exchange rates as well as share prices because LVMH trades in euros while the milestone was commonly reported in US dollars. The company’s ranking can therefore differ between dollar and euro comparisons, especially when currency markets move.