Latest news with #LVMH.PA
Reuters
15-04-2025
- Automotive
- Reuters
European shares rise after Trump touts auto-related tariff break, LVMH slumps
April 15 (Reuters) - European shares edged higher on Tuesday as investors digested fast-changing U.S. tariff plans, while LVMH slumped after disappointing first-quarter revenue from the world's largest luxury group underscored the damage caused by the trade war. The pan-European STOXX 600 (.STOXX), opens new tab ticked up 0.6%, as of 0706 GMT, with most regional indexes trading higher barring France (.FCHI), opens new tab, which fell 0.2%, weighed down by LVMH's ( opens new tab 7.1% decline. The company said shoppers in the United States cut spending on beauty products and drinks, while sales in China stayed weak during the quarter. Peers including Cartier owner Richemont (CFR.S), opens new tab, Gucci parent Kering ( opens new tab and Moncler ( opens new tab fell between 2% and 2.8%. But stock indexes in Germany (.GDAXI), opens new tab, Spain (.IBEX), opens new tab, and the UK (.FTSE), opens new tab rose between 0.5% and 0.9%. The auto and parts index (.SXAP), opens new tab rose 2.5%, leading gains among sectors, after U.S. President Donald Trump said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other countries. Investors now await the European Central Bank's policy meeting on Thursday, with markets widely anticipating a 25-basis-point rate cut. BE Semiconductor Industries (BESI) ( opens new tab jumped 7.1% after U.S.-based computer chip equipment supplier Applied Materials (AMAT.O), opens new tab bought a 9% stake in the Dutch semiconductor advanced packaging firm. Ericsson ( opens new tab rose 6.9% after the telecoms equipment maker reported much better-than-expected first-quarter core earnings.
Reuters
12-03-2025
- Business
- Reuters
LVMH heir Frederic Arnault to head Loro Piana, exit watches division
PARIS, March 12 (Reuters) - Frederic Arnault, one of the five children of LVMH ( opens new tab chairman and CEO Bernard Arnault, will become chief executive of the group's high-end Italian cashmere label Loro Piana in June, the world's biggest luxury group said in a statement on Wednesday. The move is part of an extensive top management reshuffle as a new generation rises through LVMH's ranks. Damien Bertrand, who currently heads Loro Piana, will become deputy CEO of Louis Vuitton while Pierre-Emmanuel Angeloglou will join Christian Dior Couture as deputy CEO, reporting to Delphine Arnault. All of Bernard Arnault's children hold top management positions in the company. Frederic has headed LVMH's watches division for the past year. While Bernard, 76, has given no indication he intends to step down any time soon, his children are all closely watched for signs of moving ahead in the race to succeed him one day. The new CEO of Fendi will be announced shortly, LVMH added.
Reuters
07-03-2025
- Business
- Reuters
France's former spy chief found guilty of using public resources to aid LVMH
PARIS, March 7 (Reuters) - A Paris court on Friday found the former head of France's domestic security services, Bernard Squarcini, guilty of using public resources to benefit LVMH, in a trial that shed light on efforts by the world's biggest luxury group to shield its image. Squarcini, who headed France's domestic security services from 2008 to 2012, was later hired by LVMH ( opens new tab as a security consultant. Squarcini was also found to be complicit in the illegal surveillance of Francois Ruffin, a French lawmaker who at the time was an activist, along with members of his left-wing publication Fakir as they planned to disrupt an LVMH shareholder meeting and prepared their satirical documentary film "Merci Patron". Squarcini was given a four-year prison sentence with two years suspended, and fined 200,000 euros ($217,300). His lawyers said he would appeal against the verdict. LVMH boss Bernard Arnault in November told judges that he did not know about the illegal surveillance ordered nearly 10 years ago by a close associate who died in 2018. Ruffin's lawyer, Benjamin Sarfati, welcomed Friday's verdict. "We are satisfied with this decision that serves as a call to order, though we regret the absence of Mr Bernard Arnault among defendants," he said. During the trial, Arnault's testimony grew tense at times, with the famously discreet billionaire showing his annoyance at questioning from Ruffin's lawyers. LVMH, which reached an agreement in 2021 to pay a 10 million euro settlement to close a criminal probe into its role in the spying case, declined to comment. ($1 = 0.9204 euros)
Reuters
27-01-2025
- Entertainment
- Reuters
Maria Grazia Chiuri redesigns hooped petticoats for Dior haute couture show
PARIS, Jan 27 (Reuters) - Dior creative director Maria Grazia Chiuri kicked off the Paris Haute Couture fashion shows on Monday with a lineup of hooped petticoats and corsets in sheer, airy fabrics. Models marched down the runway in low heels parading ruffled and lacy looks, some with voluminous skirts, decorated with tufts of fabrics, sequins or ribbons that streamed behind. Chiuri drew on the house's original La Cigale silhouette from the early 1950s, known for a tightly-cinched waist, as well as the looser Trapeze line from the late 1950s, throwing fitted jackets over short, puffy skirts and decorating tulle with embroidery. Models wore their hair slicked back, in a mohawk-like style, with a row of feather-tipped spikes that added a punk flair to the look. The LVMH-owned ( opens new tab fashion house held the show in a temporary structure in the gardens of the Rodin Museum where the set was decorated by colourful artwork by Rithika Merchant. The artist's fantastical creatures and tropical vegetation added to the otherworldly flavour of the catwalk presentation. The Haute Couture fashion shows in Paris run through Jan. 30 and feature some of the industry's best-known labels including Chanel, Valentino and Jean Paul Gaultier.
Reuters
27-01-2025
- Business
- Reuters
LVMH raised to 'overweight' rating by Morgan Stanley analysts
PARIS, Jan 27 (Reuters) - Investment bank Morgan Stanley has raised its rating on French luxury goods giant LVMH ( opens new tab to 'overweight' from 'equal weight'. "While LVMH should face a number of challenges in 2025, the Group's prospects have materially improved in recent weeks, a function of more favorable industry dynamics but also company specific factors (improving prospects at key brands Vuitton/Tiffany/Bulgari)," it wrote in a research note.
