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LVMH posts Q1 revenue of $23.1bn
Jump in sales across all regions, including China.
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LVMH sales, profit reach new highs
LVMH is headed by French billionaire Bernard Arnault. -
Dior and Louis Vuitton name new chief executives
Paris, France--French luxury group LVMH announced a leadership shuffle on Wednesday, naming new chief executives at major brands Christian Dior Couture and Louis Vuitton. Delphine Arnault, a top executive at Louis Vuitton and daughter of billionaire LVMH boss Bernard Arnault, will become CEO of Dior perfume and fashion house, LVMH said... -
Elon Musk briefly loses top spot as world’s richest person
According to Bloomberg's ranking, calculated after US markets closed on Tuesday, had Musk in the lead at $178.9 billion, followed by Arnault at $165.1 billion. -
Russia threatens Ukraine ‘statehood’ as sanctions tighten
Since Russia's invasion 10 days ago, the economic and humanitarian toll of the war has spiraled, sending more than one million people fleeing Ukraine. Officials have reported hundreds of civilians killed. -
Visa, Master card suspend operation in Russia
The cards would continue to work on Russian territory because all payments in Russia are made through a national system and do not depend on foreign systems. -
Hermes, Chanel, Louis Vuitton pause business in Russia over Ukraine war
Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60 people in the country. -
LVMH sees record sales, profit despite pandemic
The world's leading luxury group more than recovered from the coronavirus pandemic as it earns a record €64.2 billion ($71.5bn) in 2021. The company's net profit hits €12 billion. -
World’s 10 richest men doubled wealth during pandemic, says Oxfam
Oxfam said the men's wealth jumped from $700 billion to $1.5 trillion, at an average rate of $1.3 billion per day, in a briefing published before a virtual mini-summit of world leaders being held under the auspices of the World Economic Forum.