LVMH owns Louis Vuitton and Moët & Chandon and is listed on the Paris Stock Exchange. The French luxury-goods group has become one of Europe's largest companies by market capitalization through a portfolio of fashion, leather-goods, wines, spirits, perfumes, cosmetics, watches, and jewelry brands.
The name LVMH comes from the 1987 merger of Louis Vuitton with Moët Hennessy. Louis Vuitton brought its famous fashion and leather-goods business, while Moët Hennessy combined champagne and cognac interests. Bernard Arnault became the group's leading shareholder and chairman and chief executive.
LVMH is a group rather than a single consumer brand. Its portfolio has included brands such as Christian Dior, Fendi, Givenchy, Bulgari, Tiffany & Co., Hennessy, and Dom Pérignon. The exact market-cap ranking of public companies changes with share prices and currency movements.
Readers sometimes confuse LVMH with Kering, another French luxury group whose brands include Gucci and Saint Laurent. Hermès is also French and highly valuable, but it is an independent company rather than an LVMH subsidiary.