In 1984, Bernard Arnault learned that Christian Dior was for sale. Its parent company Boussac had filed for bankruptcy and the French government was looking for a buyer for the ailing textile empire that owned a number of companies, including Paris-based fashion house Dior. As the story goes, the then-35-year old Arnault – who had spent the previous 10 years heading up the construction firm founded by his grandfather – took $15 million from his family, combined it with $45 million from French financial institution Lazard Frères, and purchased Boussac in a quest to get his hands on the famed French fashion house. It was the first step in creating what would become LVMH.
As the New York Times would write in December 1989, within two years of acquiring Boussac, “Arnault had pushed [the company] into the black, laying off 9,000 workers and selling off [its] disposable-diaper division and most of its textile operations for $500 million.” While that deal helped Arnault to “leapfrog from his family’s $15 million-a-year business to a company 20 times as large,” and earned him the title of “a force to reckon with in French business,” another acquisition was to follow: his 1990 spree to gain control of Louis Vuitton Moet Hennessey, the merged fashion house and spirits company, in which Arnault first invested in the late 1980s.
Since then, Arnault – now 74-years-old and the among the richest men in the world, according to Bloomberg’s running “Billionaires” list – has spent billions of dollars and worked doggedly to amass no less than 70 luxury brands under the umbrella of the group that is now coined LVMH Moet Hennessy Louis Vuitton.
Reflecting on his idea to put so many luxury brands — including those competing with each other — under one roof, Arnault told CNBC in 2018, “In the 90s, I had the idea of a luxury group and at the time I was very much criticized for it. I remember people telling me it doesn’t make sense to put together so many brands. And it was a success … And for the last 10 years now, every competitor is trying to imitate, which is very rewarding for us. I think they are not successful but they try.”
Here is a look at the timeline behind the building of the world’s most valuable luxury goods conglomerate. Please note: The following is not an exhaustive of the acquisitions and entities that exist in relation to LVMH, and instead, focuses primarily on fashion and notable beauty and jewelry-related entities …
2024: Les Domaines de Fontaine
LVMH has acquired “a significant stake” in French boutique hospitality group Les Domaines de Fontenille. The terms of the deal have not been disclosed but LVMH is reported to have secured approximately 20 percent ownership in the upscale hotel group. Anaïs Ventures, a Geneva-based investment company, also participated in the funding round.
2024: L’Epée 1839
LVMH acquired Swiza, owner of L’Epée 1839, “a prestigious Swiss manufacturer of high-end clocks and authentic ‘objets d’art’ featuring exceptional mechanisms and intricacies.” This acquisition of “a jewel in the crown of Haute Horlogerie is further proof of the LVMH Group’s determination to preserve and develop historic savoir-faire, and to ensure that it is passed on and cultivated over time,” the company stated.
2022: Pedemonte Group
LVMH acquired the Pedemonte Group, a jewelry producer present in Italy and France, from the Equinox III SLP SIF investment fund. This strategic operation for the Watches & Jewelry Division and its jewelry Maisons will allow the Group to significantly increase its production capacity, while the existing workshops are mobilizing all their resources to support the strong growth of the Division.
2021: Officine Universelle Buly 1803
LVMH has acquired Officine Universelle Buly 1803, the French perfume and cosmetics company. Nearly four years after LVMH first invested in the company by way of its LVMH Luxury Ventures investment fund, the group has acquired the Officine Universelle Buly 1803. The terms of the deal have not been disclosed.
2021: Off-White
LVMH announced that it will take a 60 percent stake in Virgil Abloh’s brand Off-White. Abloh will retain a 40 percent interest and continue as creative director of the brand, which he founded in 2013. In September 2024, LVMH sold its stake in Off-White to Bluestar Alliance.
2021: Phoebe Philo
In conjunction with an announcement that former Celine creative director Phoebe Philo will launch her own label, LVMH revealed that it has taken a minority stake in soon-to-launch label. The size of LVMH’s minority position and the terms of the deal have not been disclosed.
2020: Tiffany & Co.
On the heels of LVMH attempting to pull out of a deal to acquire Tiffany & Co. for a whopping $16.2 billion ($135/share), and the initiation of a legal battle by Tiffany, the parties agreed to a renegotiated deal, in which LVMH will acquire all of Tiffany’s share for $131.50 each, in furtherance of a $15.8 billion transaction. (For a timeline of the Tiffany, LVMH deal and litigation, you can find that here).
2019: Stella McCartney
LVMH entered into a “joint venture” with Stella McCartney are the brand ended its longstanding joint venture with rival conglomerate Kering. The terms of the parties’ deal have not been disclosed, although it has been reported that Ms. McCartney remains the majority owner of her eponymous label.
2019: Fenty
LVMH officially launched a new label, Fenty, as part of a joint venture with musician Rihanna, who holds a 49.99 percent stake in the new label, while LVMH owns the majority 50.01 percent. (In February 2021, LVMH announcedthat it would put the Fenty venture on hold indefinitely.)
2018: Jean Patou
LVMH bought a majority stake in Jean Patou, a French couture label that it says it will revive by relaunching its ready-to-wear clothing collections. LVMH bought the controlling stake from Britain’s Designer Parfums Ltd.
2018: Belmont Group
LVMH acquired Belmond Ltd. in a deal with an equity value of $2.6 billion and an enterprise value of $3.2 billion. Established over 40 years ago with the acquisition of Hotel Cipriani in Venice, Belmond owns and operates a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. The company operates in 24 countries with its unique and distinctive portfolio of 46 hotel, rail and river cruise experiences.
2017: Christian Dior
LVMH technically acquired the Paris-based couture house in 2017 in a $13.1 billion deal. Prior to the deal, Groupe Arnault, which is the private holding company holding owned and controlled by Bernard Arnault, was the only declared major shareholder in Christian Dior S.A. (For a more in-depth look at the previous Dior ownership structure, you can find that here).
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