Louis Vuitton is a luxury fashion and leather goods brand that has become a household name in the fashion industry. The brand is known for its high-end products, iconic monogram pattern, and its association with French elegance and sophistication.
However, many people are unaware of the corporation that owns Louis Vuitton. In this article, we will explore the ownership of Louis Vuitton and shed some light on the company’s history.
History of Louis Vuitton
Louis Vuitton was founded in 1854 by Louis Vuitton himself. He started his career as a luggage packer for wealthy Parisians and later became an apprentice to Monsieur Maréchal.
In 1854, he founded his own company, which initially specialized in creating high-quality luggage for travelers. His innovative designs quickly gained popularity among the upper class, and he soon became one of the most sought-after luggage makers in France.
In the years that followed, Louis Vuitton expanded its product range to include handbags, accessories, clothing, shoes, and even jewelry. Today, it is one of the most recognizable luxury brands in the world.
The Corporation that Owns Louis Vuitton
So who owns Louis Vuitton? The answer is LVMH Moët Hennessy – Louis Vuitton SE. LVMH is a French multinational luxury goods conglomerate that was formed after a merger between Moët Hennessy and Louis Vuitton in 1987.
Today, LVMH is the world’s largest luxury goods company with over 70 prestigious brands under its umbrella. Some of these brands include Christian Dior, Fendi, Givenchy, Marc Jacobs, Bulgari, Sephora, and many more.
The Power of LVMH
LVMH’s portfolio of brands generates billions of dollars in revenue each year, making it a major player in the luxury goods market. The company’s revenue for 2020 was over €44 billion, despite the pandemic’s impact on the industry.
One of the reasons for LVMH’s success is its ability to leverage its diverse portfolio of brands. By cross-promoting and collaborating between its various brands, LVMH is able to maintain a dominant position in the luxury goods market.
The Future of Louis Vuitton and LVMH
Louis Vuitton and LVMH are showing no signs of slowing down. The company continues to expand its product range, with plans to launch new lines in the future. In addition, LVMH has been making strategic acquisitions to strengthen its portfolio.
In 2019, LVMH acquired American jewelry brand Tiffany & Co. for $16.2 billion – one of the biggest deals in luxury goods history. This acquisition is expected to boost LVMH’s presence in the jewelry sector and increase its overall revenue.
Conclusion
Despite Louis Vuitton’s long and storied history, many people are still unaware of the corporation that owns it. LVMH Moët Hennessy – Louis Vuitton SE is one of the most powerful players in the luxury goods market and owns over 70 prestigious brands worldwide. With Louis Vuitton continuing to expand its product range and LVMH making strategic acquisitions, it is clear that both companies will remain at the forefront of the fashion industry for years to come.