The company also own make-up and cosmetics chain Sephora. Those stores are packed with people who want to look good on Instagram.
Bernard Arnault, now 69 years old, is the controlling shareholder of LVMH. He recently forked out $13-billion to raise his family’s stake to 46%. He has five children, and all of them seem to work in the business. Delphine, 43, is executive vice-president at Louis Vuitton. Antoine, 41, is charge of image and communication. Alexandre, 24, runs the German luggage maker Rimowa. Frederic, 23, is head of “connected technologies” for watchmaker Tag Heuer. I can’t find out what the youngest son Jean does. Perhaps he makes tea at head office?
LVMH is a good stock to own, and it is listed in France and in the US. You could add some to your portfolio. Once you have done so, buy one of those neat men’s backpacks, or a New Wave chain bag from Louis Vuitton.