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 (
, 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
cosmetics stores, Le Bon Marché Paris department stores, and 61% of
(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
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.