Latest news with #MoetHennessy
Yahoo
01-08-2025
- Entertainment
- Yahoo
Moët Hennessy and No. 2 bar in the world team up for Tales of the Cocktail party in New Orleans
NEW ORLEANS (WGNO) — Moët Hennessy USA and the No. 2 ranked bar in the world, 'Double Chicken Please,' teamed up for an exclusive Tales of the Cocktail party at the New Orleans Athletic Club. On Thursday, July 24, guests were greeted with a nostalgic, neighborhood theme at 'The Double Neighborhood' party. Upon entry, guests were encouraged to choose a branded apron as a symbol of solidarity and support for those bartenders in the mixology community. Absolut throws immersive party for Tales of the Cocktail in New Orleans The pop-up party had oversized blow up basketball courts, retro vending machines, vintage ice cream trucks, vintage newspaper stands and old school laundromats. 'Double Chicken Please' is a bar in New York City's vibrant Lower East Side. Several cocktails were curated for the party including: the Neighborhood Cooler curated with Hennessy V.S.O.P, winter melon, ginger and yuzu and the Cafe Cumin Fizz with Hennessy V.S.O.P, passionfruit, cold brew coffee, grapefruit, cumin and tonic. The Belvedere bar & lounge joined the courtyard festivities with an oversized inflatable boombox DJ booth with a pair of headphones while serving the Belvedere Fro-Zen crafted with Belvedere Organic Vodka, jasmine, matcha, pistachio and honey wasabi and the Belvedere Golden Orchard with Belvedere Organic Vodka, amaretto, apple pale ale, apricot and dill. Additionally, attendees were able to get a sneak peek at the new Belvedere Dirty Brew. High West Distillery from Park City brings 'Ice House' experience to Tales of the Cocktail in New Orleans Once inside, Glenmorangie featured an ice cream truck serving a Boozy Brown Cow with Glenmorangie The Original 12 Years Old, root beer, peanut butter and raspberry vanilla ice cream. The Veuve Clicquot neighborhood offered a lounge area and a newsstand bar highlighting headlines spotlighting Madame Clicquot, the Grande Dame of Champagne, and featured the Meadow Royale cocktail with Veuve Clicquot Brut Yellow Label mixed with maple, angostura and pine foam. To round out the party, Ardbeg popped up with an old-school laundromat with their Double Bubble cocktail featuring Ardbeg Ten Years Old, popcorn, early grey milk and Posts Senate panel advances funding bill with $1 billion for Ukraine 'Happy Face Killer' wants Bryan Kohberger to move to Oregon prison The NFL's new kickoff rule has a slight tweak. What else is changing? Pilot safe after US Navy jet crashes in California Day 2 of federal probe into fatal midair crash of Army helicopter, passenger plane opens Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Solve the daily Crossword
Daily Mail
15-07-2025
- Business
- Daily Mail
Are LVMH shares cheap? Analysts eye rebound after Louis Vuitton owner's recent price slump
LVMH shareholders have endured a torrid 2025 so far, with the French luxury group's stock market value sinking by a quarter over the last six months. The group, which counts Louis Vuitton, Dior and Givenchy among its stable of fashion brands, has seen shares sink by almost a third over the last 12 months as the global luxury rebound has probed sluggish. Last week Louis Vuitton announced it was targeted by a cyberattack for the third time in the past three months at the beginning of July, after Marks & Spencer, the Co-op and Harrods were all targeted earlier this year. Meanwhile, LVMH's drinks division, Moët Hennessy, is being gripped by a €1.3million court case brought by Maria Gasparovic, former chief of staff to executive Jean-Marc Lacave, who was sacked four months after reporting alleged sexual misconduct by senior colleagues. Despite these recent tribulations for the firm, analysts think shares could be due a rebound. LVMH revenues contracted 3 per cent to €20.3billion in the first quarter, from €20.7billion a year ago, well below analyst forecasts for sales growth of 2 per cent. Revenue in the firm's wines and spirits division, headed up by its Moët and Hennessy brands, declined 9 per cent to €1.3billion. Its largest category, fashion and leather goods, saw sales fall 5 per cent to €10.1billion, from €10.5billion previously. The firm, which was the first in its sector to post figures after the Donald Trump's 'liberation day' tariff announcements, said: 'In a disrupted geopolitical and economic environment, LVMH remains both vigilant and confident at the start of the year.' The French firm, which has a market capitalisation of almost €250billion, owns 75 luxury brands. It will publish its results for the first half of its 2025 financial year on 24 July. A luxury slump It isn't just LVMH that is feeling the pinch, the entire luxury sector is facing a similar downturn. After a post-pandemic peak that saw luxury brands surge on the back of huge demand, external pressures such as geopolitical uncertainty and economic slowdown have precipitated a downturn across the sector. During the course of 2024, the market dipped from €369billion to €364billion, according to figures from Bain & Company, with weaker demand, especially from China and the US, pushing the shrink. American luxury demand was down around 10 per cent in 2024 compared to its peak in 2022, according to data from Morningstar, while Chinese demand has slipped a quarter in compared with its pre-pandemic high point. Even so, LVMH has suffered a worse fate than many, with the firm underperforming luxury peers. Morningstar analysts said LVMH is currently trading below the broker's value estimate of €620 per share. At midday on Thursday, LVMH shares were trading at €496.05 per share. Why is LVMH undervalued? Since January, LVMH shares have fallen some 34 per cent, and was surpassed in value by Hermes, which became the largest luxury goods firm in April. Morningstar says this is a normalisation after the post pandemic boom, during which the firm said LVMH's valuation was stretched. At the time, LVMH was operating on a price to earnings ratio of 26. Now, having seen its share price half, its PE ratio on a one year rolling basis now stands at 20.2, according to figures form Stockopedia. In comparison, the new king of luxury, Hermes, is operating on a PE ratio of 50.8. Likewise, a number of other luxury goods firms have significantly larger PE ratios than LVMH, with Burberry standing at 48.2, EssilorLuxotica at 33.1 and Kering at 26.7. Jelena Sokolova, senior equity analyst at Morningstar, said: 'We have seen luxury sector slowdowns many times before, but this time LVMH's valuation has been unfairly hit. 'The retailer is trading at its lowest forward earnings multiple in seven years and roughly half that of comparable wide-moat peers, which presents an opportunity for investors.' Morningstar added: 'Forward earnings multiples are at the lowest for the last seven years and are meaningfully below peers, offering around 30 per cent upside to our fair value estimate.' However, others argue that LVMH's downturn is far from an unfair reflection on the rest of the business. Dan Coatsworth, investment analyst at AJ Bell, however, told This is Money: 'LVMH has lost its sparkle after a series of setbacks in recent years. It has focused too much on the aspirational market and these types of buyers have become more cash-conscious, watching their pennies rather than opening their wallets without a care in the world. 'In contrast, Hermes has explicitly focused on the ultra-rich and has enjoyed more resilient trading. LVMH might now be thinking hard about narrowing its customer focus as that could help to make its products more desirable, which is ultimately what luxury goods is all about.' Is there a turnaround on the horizon? LVMH still has exceptional brand strength, which Morningstar says will give it the edge against its peers. The group's brands making up 29 per cent of the luxury leather market, compared to just 8 per cent for Hermes. The firm's impressive storefronts and higher capital spending on retail may help its brands to stand out from their competition. The strength of the brand remains, with LVMH having seen fashion and leather sales grow slightly better than the wider sector last year, though this dipped in the first quarter of 2025. Coatsworth, however, said: 'LVMH has too many different interests. We're in an environment where companies are focusing on what they do best and jettisoning non-core assets. LVMH would be better if it just focused on fashion and got rid of the Sephora and DFS retail arms and its various food and drink operations.' LVMH's brand strength, unwieldy though it may be, could combine with the potential for an upswing in the sector after the slowdown of the past few years. Morningstar's Sokolova certainly thinks this is the case. She told This is Money: 'We expect the luxury industry to return to growth after the current - and last year's - slowdown, driven by normalisation of demand in the US as post-pandemic excess spending is flushed out - a trend we've seen since 2023 - and as Chinese real estate prices stabilize, boosting consumer sentiment. ' LVMH derives around 24 per cent of its sales from the US, where consumer sending has also stalled. Morningstar said: 'We estimate that post-pandemic excesses have been flushed out of the market, US luxury consumption should come back to growth from more normal levels. We expect US GDP to hold up stronger in the long term.' China accounts for a significant portion of LVMH's sales, with Asia (excluding Japan), accounting for 30 per cent of LVMH sales. China's economy is currently in a period of slow growth, with consumers remaining tight on spending. In the first quarter, LVMH revenue from China fell by 11 per cent, with the second quarter expected to follow suit. Sokolova said: 'Many Chinese spenders are still sitting on substantial savings following the pandemic. We expect LVMH to outperform the industry growth longer-term thanks to strength of the brands and substantial marketing budget. 'Once sentiment in key markets like China and the US returns to its pre-pandemic trajectory, we expect LVMH to leverage its brand strength and investment capabilities to emerge stronger and better positioned than ever.'
Daily Mail
11-07-2025
- Business
- Daily Mail
Female Moet exec told she was 'gagging for it' sues firm for $1.5m
A female executive at Moet Hennessy is suing the champagne maker for $1.5million after she was allegedly told she needed 'anti-seduction' training and she was 'gagging for it'. Maria Gasparovic, the former chief of staff to executive Jean-Marc Lacave, was sacked last June, just four months after she told her HR department about senior colleagues' alleged misconduct while she worked at the firm's Paris headquarters. Lacave, her direct boss, is alleged to have told her that in order to be promoted, she needed 'anti-seduction' training, it was reported. He is also accused of telling her that she had not been promoted because a client had said she was 'gagging for it' at a meeting. Gasparovic is suing the multi-billion dollar firm for $1.5million in damages and compensation over accusations of sexual harassment, gender discrimination, and unfair dismissal. LHMV has refuted the claims, and has filed a lawsuit against her for defamation after she posted the allegations to social media. A defamation trial is expected in the fall. In her dismissal letter, Moet Hennessy said she was being fired for impersonating another employee on a call while on sick leave, and for making threatening remarks to colleagues, though she had denied all these allegations. Before she was made to leave, she reportedly submitted a whistleblowing report to the firm in which she detailed her allegations of harassment and discrimination, though according to a legal complaint she filed the firm did not carry out a formal investigation. Mark Stead, the company's former chief operating officer who is in a relationship with Gasparovic, was reportedly sacked for allegedly misusing travel and expenses resources shortly after he accompanied her to meetings with HR. Since her sacking, around a dozen people have reportedly come forward to reveal a series of executive departures 'related to a toxic workplace environment where bullying and mismanagement were problems'. At least four female employees at Moet Hennessy's Paris headquarters have reported bullying and harassment before leaving. Three of those who filed complaints at employment tribunals have since settled with the firm. Several women allegedly complained about being the subject of unfounded rumours about having affairs with men at the company. According to the Financial Times, after one woman told HR that people were spreading false rumors that she had slept with a male executive to get work opportunities, she was simply told to 'get used to it'. Many employees of the firm complained of stress and bullying, with at least 20 staff at the headquarters going on long-term sick leave in 2024 alone. One source told the FT that gossip and rumors are rife at Moet Hennessy, and that it was a 'boys club'. They said that bosses would 'scream at people like it was a fashion house in the 1990s, except we are in 2025 - that behavior is no longer acceptable'. The source reportedly added: 'Lots of people were going on sick leave, people were disappearing overnight. It took on disruptive proportions'. In a note sent to staff in September 2024, Moet Hennessy's then-chief executive Philippe Schaus and head of HR Paula Fallowfield tried to put out the fires of Gasparovic's allegations, and of the wider concerns within the company, the FT reports. 'We assure you that each case has been handled thoughtfully, fairly and in line with a commitment to confidentiality and our values,' they wrote in the email, while reminding staff of 'the distress one-sided narratives may cause'. 'We are committed to providing a positive working environment . . . Moreover we are also determined to do everything possible to protect the reputation of Moet Hennessy,' they wrote. Gasparovic's lawsuit is expected to be heard in court later this year.
The Sun
11-07-2025
- Business
- The Sun
Female champagne exec ‘told she needed 'anti-seduction training for flirting with bosses' and is ‘gagging for it''
A FEMALE exec at a luxury champagne firm was allegedly told she needed 'anti-seduction' training and was 'gagging for it' to land a promotion. Maria Gasparovic is accusing French drinks powerhouse Moët Hennessy of sexual harassment, gender discrimination and unfair dismissal in a £1.1million lawsuit. 5 5 Gasparovic was former chief of staff to the firm's global head of distribution Jean-Marc Lacave, and was fired in June last year. According to a Financial Times bombshell article, Gasparovic claims the comments were made by Lacave himself. These include allegations that she missed out on a promotion because a client had described her as 'gagging for it', and that she should undergo 'anti-seduction coaching' to move up the corporate ladder. She is seeking €1.3 million (around £1.1m) in damages and compensation through France's employment tribunal system. Moët Hennessy — the elite drinks arm of luxury conglomerate LVMH — has strenuously denied the allegations and hit back with its own lawsuit, accusing Gasparovic of defamation after she aired the accusations on social media. Those posts have since been taken down, and a defamation trial is reportedly set for autumn. An LVMH spokesperson has shared with The Sun the full letter from Moët Hennessy's CEO Jean-Jacques Guiony to all members of staff. In it, Mr Guiony addressed the recent allegations regarding the company's treatment of women and its culture. He claims Gasparovic's contract was terminated due to her "destructive behavior", and she subsequently launched a press campaign, leading Moët Hennessy to file a libel suit. The letter claims that Gasparovic's actions were a manipulative attempt to gain financial compensation and invoke whistleblower status after her initial strategy failed. Mr Guiony went on to emphasise his commitment to continuing this positive cultural shift and upholding a supportive environment at Moët Hennessy. The Sun has also asked LVMH for a comment on the matter. In her termination letter, cited by the FT, the company claimed she impersonated a colleague on a call while on sick leave and made threats to other staff — charges she flatly denies. Before her dismissal, Gasparovic had submitted a whistleblower report, alleging harassment and discrimination at the Paris HQ. But according to her legal complaint, the company failed to launch a formal investigation into her claims. The New York Post reports that Gasparovic further alleges Moët's then-CEO Philippe Schaus ordered HR to dig into her personal life, believing she was having an affair with a colleague — a claim she says was part of a broader 'boys club' atmosphere. 'Private life is protected by law in France,' she told the FT. 'Dignity matters, especially for women at work.' The lawsuit has dragged Moët Hennessy into a bubbling scandal just as it's grappling with broader turbulence. 5 5 A dozen insiders reportedly told the FT the workplace culture had become toxic — with bullying, burnout and staff 'disappearing overnight' on sick leave. At least 20 employees were signed off long-term in 2024 alone, according to the Daily Mail. One anonymous source reportedly said bosses would 'scream at people like it was a fashion house in the 1990s — except we are in 2025. That behaviour is no longer acceptable.' Several other women have reportedly left the company after facing similar treatment. At least four former female staffers accused Moët of harassment and bullying before exiting, three of whom later settled employment tribunal claims, according to the FT. In one case, after a female employee told HR that false rumours were circulating about her sleeping with a male exec to advance her career, she was allegedly told simply to 'get used to it'. Even Moët's former COO Mark Stead — who is reportedly in a relationship with Gasparovic — was fired shortly after accompanying her to HR meetings. He was accused of misusing company expenses, though his supporters suspect retaliation, according to Daily Mail. The case is expected to go before a French employment tribunal later this year. Full message from Moët Hennessy CEO to all staff Dear Moët Hennessy teams, You may have seen or heard about an article published by the Financial Times regarding Moët Hennessy. I am deeply disappointed by this not only because it harms our reputation, but above all because the allegations made are unacceptable. I would like to share some context. Maria Gasparovic appears to hold considerable resentment toward Moët Hennessy, driven by personal ambition that led her to believe she could claim a position that did not exist at the time and was eventually not opened due to budgetary constraints. Her behavior, following that decision, changed drastically: she claimed to have been subject to sexist discrimination, she began making comments and sharing posts that can be construed as bullying and these were directed to employees and clients. As a member of the Distribution Executive team she was privy to confidential information and in addition had access to personal information pertaining to colleagues, to which she did not apply the required confidentiality measures. Holding such a position she should have disclosed information regarding her personal situation and personal relations as a conflict of interest, but did not do so. She created an environment that was destructive and Moët Hennessy had no choice but to terminate her contract even if some of the above-mentioned elements and others, like threats of blackmail, were only brought to light subsequently. Instead of challenging her termination in court, she started a press campaign and MH had no choice but to file a libel suit based on these false allegations. In 2025, she finally challenged her termination in court and MH will strongly defend the case. Ultimately, Maria Gasparovic chose to exploit a situation that she herself created - one rooted in her personal agenda and which is now being used in an attempt to justify financial compensation. After her strategy failed, she attempted to invoke whistleblower status, again manipulating the systems that are intended to protect. This behavior, both toward our company and certain colleagues, was clearly at adds with our values. These actions took place outside of any formal oversight and were facilitated by the complacency of a few individuals, and even to the point of intentional support from others. Such conduct cannot be tolerated. This is the reason of her departure. With regard to the place of women in our company, I cannot accept the attacks directed at my predecessor, Philippe Schous, whose behavior was beyond reproach in all interactions. Philippe spent considerable time embedding a vision and values that were in keeping with equity. Philippe was instrumental in appointing women to some key critical roles, that today sit at the COMEX of MH, such as the EVP of Human Resources, the President for Maison Moët, the CFO, and a new Regional President for Asia. Since 2020, we have successfully achieved gender parity at Executive and Manager level rising from 45 to 50% in less than 5 years. He initiated a genuine cultural shift at Moët Hennessy one that has brought greater equity and diversity to our organization. This is a commitment I fully intend to carry forward as President of Moët Hennessy. I will never tolerate such behavior. Like you, I believe in our core values, and I will not accept them being called into question. Seeing these values misrepresented in the press is not only disappointing to me but I know it is also deeply unsettling for all of you who work so hard to uphold them. I share your frustration and concern that the press has failed to accurately and fairly represent events. I understand that these accusations, along with commentary about our culture, may raise concerns. I want to underscore that Moët Hennessy is committed to continuously upholding a positive and supportive environment for all. Jean-Jacques Guiony, President and CEO, Moët Hennessy.
Bloomberg
11-07-2025
- Business
- Bloomberg
Louis Vuitton UK Says Hackers Have Stolen Some Customer Data
Louis Vuitton UK said hackers have stolen some customer data as the luxury brand becomes the latest target in a string of cyberattacks against retailers. On July 2, an unauthorized third party accessed the systems of the British unit of LVMH Moet Hennessy Louis Vuitton SE 's flagship brand and took information such as names, contact details and purchase history. No financial data like bank details were accessed, the company said in an email to customers on Friday.
