The share price reached a new record in the morning at 795.70 euros, before falling to 791.40 euros. Since the beginning of the year, it has increased by more than 16%.
Supported on the stock market for three weeks by the prospects linked to the reopening of the Chinese market (26% of its activity, according to HSBC), LVMH is setting records. After an exceptional year 2022 for all luxury players, the title of the world leader in the sector (64.2 billion euros in turnover in 2021) closed the session on Tuesday with an increase of 0.59%. It crossed the bar of 400 billion euros in capitalization, at 401.2 billion euros, with a security listed at 797.40 euros. It even exceeded 800 euros in session.
This is a record for a European company. At these levels, the group headed by Bernard Arnault (Louis Vuitton, Dior, Hennessy, Sephora, etc.) is now clearly ahead of the Swiss giant Nestlé (315 billion euros in capitalization), which he had dethroned in February 2021. But also on European pharmaceutical heavyweights Roche (309 billion), Novo Nordisk (220 billion), AstraZeneca (203 billion). In the end, the group is in twelfth place among the most valued companies in the world.
Read alsoLVMH: how Bernard Arnault organizes generation renewal
While the title had suffered, at the very beginning of the pandemic, from fears about the closure of the Chinese market and the sudden cessation of tourism, it has since more than tripled in value. This rebound is linked to the incredible resistance of the group’s activity to the shocks linked to the pandemic, or to the chain effects of the war in Ukraine. Driven by fashion and leather goods, and the United States and Asia, its organic revenue jumped 36% in 2021. Before continuing its momentum in the first nine months of 2022 (+20%) . The group will publish its annual accounts on January 26.
SEE ALSO – Anti-Semitism, Adidas, Bernard Arnault… What’s going on with Kanye West?