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LVMH Moët Hennessy - Louis Vuitton, Société Européenne (LVMUY)
- Reuters
LVMH's luxury wares earn top billing at Olympics opening
Bernard Arnault, France's wealthiest man and chief executive of luxury group LVMH, paid some 150 million euros ($163 million) to be the premium sponsor of the Paris Olympics'. At the Games' opening ceremony, his wares were placed front and centre of an extravaganza viewed by a global audience. Grammy-winner Lady Gaga delivered an energetic performance of Renee 'Zizi' Jeanmaire's "Mon truc en plumes" (My Feather Friend) decked out in a Dior Haute Couture black feather jacket over a black satin bustier.
- Yahoo Finance Video
Luxury retail slump: Kering predicts 30% sales drop in H2
The luxury retail sector is showing signs of weakness. French brand Kering (KER.PA) — which owns brands like Gucci and Balenciaga — expects sales to drop 30% in the second half of this year compared to last year. This news comes as other luxury giants like LVMH (MC.PA) — owner of Louis Vuitton and Dior — also report disappointing earnings, hinting at a broader slowdown for the high-end retail market in regions like China. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith
- Yahoo Finance Video
Big Tech forecasts, China's luxury consumers: Market Domination
Market Domination hosts Julie Hyman and Josh Lipton guide investors through the final trading hour of Wednesday, July 24, as US equity markets (^DJI, ^IXIC, ^GSPC) react to earnings out from Alphabet (GOOG, GOOGL) and Tesla (TSLA) and anticipate more results from Big Tech. Citi head of US equity strategy Scott Chronert comes on the program to talk about the role Magnificent Seven tech stocks will have in the ongoing market rotation. Former Chairman of LVMH North America Pauline Brown discusses the consumer pullback from China that is hitting luxury retail brands, including the likes of LVMH (MC.PA, LVMUY) and Burberry (BRBY.L). Other top trending stock tickers on the Yahoo Finance platform include Enphase Energy (ENPH), Ulta Beauty (ULTA), and Lamb Weston Holdings (LW). This post was written by Luke Carberry Mogan.
