Moët Hennessy Louis Vuitton (LVMH Group) - Statistics & Facts
There are few brand names in the world that signify luxury as strongly as Louis Vuitton. Moët Hennessy Louis Vuitton, more commonly referred to as LVMH Group, is a French luxury goods conglomerate primarily known for its fashion house, known as simply Louis Vuitton, named after its founder. The group operates globally, selling luxury leather goods, handbags, ready-to-wear fashion, and other fashion accessories. Since 1989, the company has been run by Frenchman Bernard Arnault, following the merger of the luxury goods producer with champagne producer Moët & Chandon and cognac manufacturer Hennessy.
LVMH Group continues to open more stores worldwide, with around 88 new stores opening between 2019 and 2020 despite the pandemic. In 2023, there were more than 500 new locations added to the LVMH store portfolio. Employee numbers continued to increase for the company as well. In fact, over the past decade, the number of employees dropped for the first time during the 2016 reporting period. The employee count has since bounced back, and grown to 213,000 as of 2023.
The world's most valuable brand
Louis Vuitton is currently the most valuable luxury brand in the world, running ahead of the other heavy weights of the luxury goods industry, such as Chanel and Gucci. In 2023, LVMH Group’s fashion and leather goods segment brought in over 42 billion euros in global sales, an impressive figure that signals the recovery of the global personal luxury goods industry from the impact of the pandemic. Fashion and leather goods was the most resilient business segment for LVMH, since the group's other lines including watches and jewelry and wine and spirit segments showed only slight improvement on the previous year.LVMH Group continues to open more stores worldwide, with around 88 new stores opening between 2019 and 2020 despite the pandemic. In 2023, there were more than 500 new locations added to the LVMH store portfolio. Employee numbers continued to increase for the company as well. In fact, over the past decade, the number of employees dropped for the first time during the 2016 reporting period. The employee count has since bounced back, and grown to 213,000 as of 2023.
