LVMH Moët Hennessy - Louis Vuitton, Société Européenne
MC.PA · PAR
Company research
LVMH Moët Hennessy - Louis Vuitton, Société Européenne (MC.PA) is a French multinational luxury goods conglomerate headquartered in Paris, France, and the undisputed world leader in the luxury sector with a market capitalisation of approximately €245 billion. Founded in 1987 through the merger of fashion house Louis Vuitton with Moët Hennessy, the group today operates 75 prestigious Maisons across six business divisions — fashion & leather goods, wines & spirits, perfumes & cosmetics, watches & jewellery, selective retailing, and other activities — spanning over 5,556 retail locations worldwide. Its iconic brand portfolio includes Louis Vuitton, Christian Dior, Fendi, Givenchy, Bulgari, Tiffany & Co., TAG Heuer, Moët & Chandon, Hennessy, and Sephora, among many others. Under the long-standing leadership of Chairman and CEO Bernard Arnault, LVMH employs over 200,000 people globally and generated €84.7 billion in revenue in 2024, cementing its position as the benchmark for excellence and heritage in the global luxury industry.
Research reports
DBS views LVMH as a highly diversified global luxury leader facing short‑term macro and demand headwinds after 1H25 revenue declined 4% year‑on‑year and recurring operating profit fell 15% below expectations, but underpinned by strong brand equity, operating free cash flow of EUR4bn and a focus on sustainability and brand desirability. The report recommends HOLD with a 12‑month target price of EUR469 based on a 20x rolling PE multiple (1 standard deviation below its average) and highlights risks including supply‑chain disruptions, adverse forex moves, intensifying competition, pandemic resurgence and slower‑than‑expected tourism recovery.
PSG Wealth (PSG Investment Management / PSG Securities) · October 15, 2025LVMH Unsponsored ADR – Company Update ReportPSG’s update on the LVMH unsponsored ADR argues that diversified exposure across soft and hard luxury plus beverages, combined with a perceived segmental and regional inflection point, positions LVMH well for renewed revenue and margin expansion, as 3Q25 group revenue rose 1% and beat market expectations while key divisions like perfumes, jewelry and selective retailing returned to growth. Using a DCF‑based framework, the report derives an intrinsic value of USD165 per ADR versus a share price of USD136 (around 21% upside) and assigns a Buy recommendation, while flagging risks from intense luxury‑sector competition, concentrated ownership, economic cyclicality in discretionary demand and regulatory or ESG‑related pressures.
Globlex Securities Public Company Limited · November 21, 2025LVMH01 (DR) – LVMH – The House That Outlives CyclesGloblex’s initiation report presents LVMH as a structurally advantaged luxury “empire” built to outlive cycles, emphasizing its portfolio of maisons, controlled distribution through 6,000+ boutiques and the “Arnault flywheel” that reinvests cash flow from star brands into emerging labels and experiential luxury, while noting that Q3 2025 marked a return to positive organic growth (+1%) after the 1H25 downturn. It recommends BUY with a 12‑month target price of THB16.40 (about EUR700), implying roughly 13% upside based on a conservative re‑rating to 28x 2026E earnings, and discusses risks around China’s property‑linked demand reset, the shift toward “quiet luxury,” sector consolidation, and the capital‑intensive pivot from products to experience‑driven retail.