LVMH SHAREHOLDERS MEETING

The shareholders of LVMH Mo*t Hennessy Louis Vuitton voted 81.6 percent in favor of an extension to 80 for its longtime chairman and chief executive officer, who is 73.  Dressed in the same shade of blue as President Macron, the luxury titan presided over LVMH’s first in-person shareholder meeting in three years on Thursday morning.

In another example of his penchant for hyperbole, Arnault boasted that Christian Dior, a crown jewel of the diversified group, is a French name as famous as Napoleon. As a veiled dig at smaller rival Kering, he pointed out that LVMH’s operating profits in 2021 approached those of other luxury groups.The Sphinx of luxury under the piramyde of the Louvre makes sense.

Since you don’t belong to some anonymous group, you are a part of the family, he smiled at the audience. A few weeks after Facebook’s name change to Meta, he reiterated his skepticism about the metaverse. The Fondation Louis Vuitton is hosting an exhibition devoted to Abloh, founder of Off-White and creative director of Vuitton menswear at the time of his death last November at the age of 41.

A LVMH executive announced that Tiffany, which LVMH acquired last year, is doing better than expected and that its Fifth Avenue flagship in New York City is slated to be ready by the end of the year.