LVMH Moët Hennessy Louis Vuitton is the world's largest luxury goods company, with brands that are bywords for the good life and everything showy. LVMH makes wines and spirits (Dom Pérignon, Moët & Chandon, Veuve Clicquot, and Hennessy), perfumes (Christian Dior, Guerlain, and Givenchy), cosmetics (Nude, Fresh, and Benefit), fashion and leather goods (Donna Karan, Givenchy, Kenzo, and Louis Vuitton), and watches and jewelry (TAG Heuer, Bulgari). LVMH's selective retail division includes Sephora cosmetics stores, Le Bon Marché Paris department stores, and 61% of DFS Group (duty-free shops). Chairman Bernard Arnault, the richest man in France, and his family own about 46% of LVMH through Groupe Arnault. In 2016 the company agreed to sell its majority stake in Donna Karan International to G-III Apparel Group.
LVMH announced in 2017 that it is to take full control over Christian Dior in a €12 billion deal.
Mergers and Acquisitions
LVMH has agreed to acquire Germany luxury luggage brand Rimowa for around €640 million. Bernard Arnault's son Alexandre will become co-chief director. The acquisition increases LVHM's exposure to the growing tourism market.