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LVMH and Formula One announce 10-year partnership
The Race winner trophy is seen in a Louis Vuitton trunk on the grid prior to the F1 Grand Prix of Monaco at Circuit de Monaco on May 26, 2024 in Monte-Carlo, Monaco. Bryn Lennon | Formula 1 | Getty Images Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, […]
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Italy opens greenwashing probe into Shein website
GERMANY – 2024/08/16: In this photo illustration, a smartphone with the website of fashion e-commerce company Shein is seen in front of business logo. (Photo Illustration by Timon Schneider/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Italy’s antitrust agency has launched an investigation into a Dublin-based company that operates Shein’s website […]
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Luxury stocks slip as fears grow of a prolonged downturn
An advertisement for Hugo Boss AG in Shanghai, China, on Wednesday, May 1, 2024. Bloomberg | Bloomberg | Getty Images LONDON — European luxury stocks tumbled Monday as analysts warned of a deteriorating demand outlook, particularly among high-spending Chinese consumers. Germany’s Hugo Boss was among the worst performers on the Stoxx 600 index by midday, […]
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Three key questions that will shape whether Coach and Michael Kors owners will merge
Pedestrians walk past a Coach store and a Michael Kors store. Scott Olson | Getty Images Just a few miles from the birthplace of Coach in New York City, a federal judge will soon decide whether its owner Tapestry can become a bag behemoth — in a decision that will weigh big questions about how […]
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Top 10 people most likely to reach trillionaire status
Combination showing Elon Musk (L), Gautam Adani (C), and Jensen Huang (R) Reuters A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. On Sept. 29, 1916, newspapers across the country announced a wealth […]
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British luxury icon Burberry dropped from UK’s FTSE 100 stock market index
LONDON, UNITED KINGDOM – 2020/07/16: Storefront of the Burberry store in the prestigious New Bond Street. (Photo by Dave Rushen/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images LONDON — British luxury fashion house Burberry Group dropped out of the U.K.’s FTSE 100 stock market index on Wednesday, as waning sales and […]
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‘Long-term opportunity’: Morningstar analyst names 2 luxury stocks to buy right now
Amid a broad sell-off in luxury stocks, one Morningstar analyst sees promise in the sector, revealing her top picks. “The luxury sector has been quite richly valued for the last couple of years,” Jelena Sokolova, senior equity analyst at Morningstar, told CNBC Pro. She said that amid the broad sell-off, “opportunities will start to emerge […]
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Beyoncé launches whiskey line with LVMH’s Moët Hennessy
Beyoncé at the 2024 iHeartRadio Music Awards held at the Dolby Theatre in Los Angeles on April 1, 2024. Michael Buckner | Billboard | Getty Images Beyoncé is holding her whiskey up high. The megastar is entering the luxury liquor business with the launch of a new whiskey line in collaboration with LVMH’s Moët Hennessy, […]
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LVMH CEO Bernard Arnault’s family office goes shopping for AI startups
World’s top luxury group LVMH head Bernard Arnault presents the group’s annual results 2022 in Paris on January 26, 2023. Stefano Rellandini | AFP | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, […]
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LVMH puts mark on Olympics as luxury brands embrace sports
The 2024 Paris Olympic Games medals are displayed inside a custom-designed trunk manufactured by Louis Vuitton, an LVMH brand partner of the Paris Olympic and Paralympic Games, during a gathering at LVMH in Paris on July 22, 2024, ahead of the start of the 2024 Paris Olympic Games. Stephane De Sakutin | AFP | Getty […]
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