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COMPANY SNAPSHOT
Nicolas Bazire Head, Development and Acquisitions Executive Board
Financial Deals Activity Overview
LVMH Moet Hennessy Louis Vuitton SA: Deal Activity LVMH Moet Hennessy Louis Vuitton SA: Recent by Deal Type (2008 - YTD*2012) Deal Activity
14 Jun 2012 LVMH Moet Hennessy acquires Arnys
Moda Operandi raises $36 million in 08 Jun 2012 Series C funding
LVMH Moet Hennessy acquires Les 03 May 2012 Tanneries Roux
Qatar Holding acquires 1.03% stake in 15 Mar 2012 LVMH
Citizen to acquire 100% stake in 05 Mar 2012 Prothor Holding
SOURCE: MARKETLINE
SOURCE: MARKETLINE
Recent Developments
Date Headline Category
Feb 9, 2012 LVMH annual profit increases Financial Performance
Corporate Governance-->Management Sep 16, 2011 LVMH appoints CEO of Louis Vuitton change
Jul 28, 2011 LVMH Q2 total revenue increases Financial Performance
Corporate Governance-->Board Jul 14, 2011 LVMH appoints two creative directors of Kenzo changes
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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TABLE OF CONTENTS
Company Snapshot ______2 Table of Contents ______4 LVMH Moet Hennessy Louis Vuitton SA: Company Overview ______8 LVMH Moet Hennessy Louis Vuitton SA: Overview and Key Facts ______8 LVMH Moet Hennessy Louis Vuitton SA: Overview ______8 LVMH Moet Hennessy Louis Vuitton SA: Key Facts ______8 LVMH Moet Hennessy Louis Vuitton SA: Key Employees ______9 LVMH Moet Hennessy Louis Vuitton SA: Key Employee Biographies ______11 LVMH Moet Hennessy Louis Vuitton SA: Major Products and Services ______16 LVMH Moet Hennessy Louis Vuitton SA: Company History ______18 LVMH Moet Hennessy Louis Vuitton SA: Management Statement ______21 LVMH Moet Hennessy Louis Vuitton SA: Locations and Subsidiaries ______23 LVMH Moet Hennessy Louis Vuitton SA: Key Competitors ______24 LVMH Moet Hennessy Louis Vuitton SA: Company Analysis ______25 LVMH Moet Hennessy Louis Vuitton SA: Business Description ______25 LVMH Moet Hennessy Louis Vuitton SA: SWOT Analysis ______27 LVMH Moet Hennessy Louis Vuitton SA: SWOT Overview ______27 LVMH Moet Hennessy Louis Vuitton SA: Strengths ______27 LVMH Moet Hennessy Louis Vuitton SA: Weaknesses ______28 LVMH Moet Hennessy Louis Vuitton SA: Opportunities ______29 LVMH Moet Hennessy Louis Vuitton SA: Threats ______30 LVMH Moet Hennessy Louis Vuitton SA: Corporate Financial Deals Activity ______32 LVMH Moet Hennessy Louis Vuitton SA: Financial Deals Overview ______32 LVMH Moet Hennessy Louis Vuitton SA: Targets and Partners ______34 LVMH Moet Hennessy Louis Vuitton SA: Top Deals 2008 - 2012YTD* ______36 LVMH Moet Hennessy Louis Vuitton SA: Advisors ______37 LVMH Moet Hennessy Louis Vuitton SA: Top Legal Advisors ______37 LVMH Moet Hennessy Louis Vuitton SA: Top Financial Advisors ______37 LVMH Moet Hennessy Louis Vuitton SA: Mergers and Acquisitions ______38 LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing ______39 LVMH Moet Hennessy Louis Vuitton SA: Capital Raising ______40 LVMH Moet Hennessy Louis Vuitton SA: Partnership ______41
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Divestments ______42 LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership ______43 LVMH Moet Hennessy Louis Vuitton SA: Recent Developments ______44 LVMH Moet Hennessy Louis Vuitton SA: News and Events Summary ______44 LVMH Moet Hennessy Louis Vuitton SA: Business Expansion ______46 LVMH Moet Hennessy Louis Vuitton SA: Contracts ______46 LVMH Moet Hennessy Louis Vuitton SA: Corporate Governance ______47 LVMH Moet Hennessy Louis Vuitton SA: Financial Deals ______47 LVMH Moet Hennessy Louis Vuitton SA: Financial Performance ______48 Appendix ______50 Contact Us ______50 Methodology ______50 About MarketLine ______51
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LIST OF TABLES
Table 1: LVMH Moet Hennessy Louis Vuitton SA: Key Facts ...... 8 Table 2: LVMH Moet Hennessy Louis Vuitton SA: Key Employees ...... 9 Table 3: LVMH Moet Hennessy Louis Vuitton SA: Locations and Subsidiaries ...... 23 Table 4: LVMH Moet Hennessy Louis Vuitton SA: Key Competitors ...... 24 Table 5: LVMH Moet Hennessy Louis Vuitton SA: Deal Activity by Deal Type - Volume (TTM*) ...... 32 Table 6: LVMH Moet Hennessy Louis Vuitton SA: M&A Activity by Geography (TTM*)...... 32 Table 7: LVMH Moet Hennessy Louis Vuitton SA: Deal Activity by Deal Type - Volume (2008 - YTD*2012) ...... 33 Table 8: LVMH Moet Hennessy Louis Vuitton SA: M&A Average Deal Size - Value (US$m) ...... 33 Table 9: LVMH Moet Hennessy Louis Vuitton SA: Targets and Partners ...... 34 Table 10: LVMH Moet Hennessy Louis Vuitton SA: Top Deals 2008 - 2012YTD* ...... 36 Table 11: LVMH Moet Hennessy Louis Vuitton SA: Legal Advisor Ranking by Value (US$m) ...... 37 Table 12: LVMH Moet Hennessy Louis Vuitton SA: Financial Advisor Ranking by Value (US$m) ...... 37 Table 13: LVMH Moet Hennessy Louis Vuitton SA: M&A Volume and Value Trend (2008 - YTD*2012) ...... 38 Table 14: LVMH Moet Hennessy Louis Vuitton SA: M&A Activity by Geography (2008 - YTD*2012) ...... 38 Table 15: LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing Volume and Value Trend (2008 - YTD*2012) ...... 39 Table 16: LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing by Geography (2008 - YTD*2012) ...... 39 Table 17: LVMH Moet Hennessy Louis Vuitton SA: Capital Raising Volume and Value Trend (2008 - YTD*2012) ...... 40 Table 18: LVMH Moet Hennessy Louis Vuitton SA: Capital Raising by Deal Type (2008 - YTD*2012) ...... 40 Table 19: LVMH Moet Hennessy Louis Vuitton SA: Partnership Volume and Value Trend (2008 - YTD*2012) ...... 41 Table 20: LVMH Moet Hennessy Louis Vuitton SA: Partnership Trend by Deal Type (2008 - YTD*2012) ...... 41 Table 21: LVMH Moet Hennessy Louis Vuitton SA: Divestments Volume and Value Trend (2008 - YTD*2012) ...... 42 Table 22: LVMH Moet Hennessy Louis Vuitton SA: Divestments by Geography (2008 - YTD*2012) ...... 42 Table 23: LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership Volume and Value Trend (2008 - YTD*2012) ...... 43 Table 24: LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership Volume by Deal Type (2008 - YTD*2012) ...... 43 Table 25: LVMH Moet Hennessy Louis Vuitton SA: News and Events Summary ...... 44 Table 26: LVMH Moet Hennessy Louis Vuitton SA: Business Expansion ...... 46 Table 27: LVMH Moet Hennessy Louis Vuitton SA: Contracts ...... 46 Table 28: LVMH Moet Hennessy Louis Vuitton SA: Corporate Governance ...... 47 Table 29: LVMH Moet Hennessy Louis Vuitton SA: Financial Deals ...... 47 Table 30: LVMH Moet Hennessy Louis Vuitton SA: Financial Performance ...... 48
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LIST OF FIGURES
Figure 1: LVMH Moet Hennessy Louis Vuitton SA: Deal Activity by Deal Type - Volume (TTM*) ...... 32 Figure 2: LVMH Moet Hennessy Louis Vuitton SA: M&A Activity by Geography (TTM*) ...... 32 Figure 3: LVMH Moet Hennessy Louis Vuitton SA: Deal Activity by Deal Type - Volume (2008 - YTD*2012) ...... 33 Figure 4: LVMH Moet Hennessy Louis Vuitton SA: M&A Average Deal Size - Value (US$m) ...... 33 Figure 5: LVMH Moet Hennessy Louis Vuitton SA: M&A Volume and Value Trend (2008 - YTD*2012) ...... 38 Figure 6: LVMH Moet Hennessy Louis Vuitton SA: M&A Activity by Geography (2008 - YTD*2012) ...... 38 Figure 7: LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing Volume and Value Trend (2008 - YTD*2012) ...... 39 Figure 8: LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing by Geography (2008 - YTD*2012) ...... 39 Figure 9: LVMH Moet Hennessy Louis Vuitton SA: Capital Raising Volume and Value Trend (2008 - YTD*2012) ...... 40 Figure 10: LVMH Moet Hennessy Louis Vuitton SA: Capital Raising by Deal Type (2008 - YTD*2012) ...... 40 Figure 11: LVMH Moet Hennessy Louis Vuitton SA: Partnership Volume and Value Trend (2008 - YTD*2012) ...... 41 Figure 12: LVMH Moet Hennessy Louis Vuitton SA: Partnership Trend by Deal Type (2008 - YTD*2012) ...... 41 Figure 13: LVMH Moet Hennessy Louis Vuitton SA: Divestments Volume and Value Trend (2008 - YTD*2012) ...... 42 Figure 14: LVMH Moet Hennessy Louis Vuitton SA: Divestments by Geography (2008 - YTD*2012) ...... 42 Figure 15: LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership Volume and Value Trend (2008 - YTD*2012) ...... 43 Figure 16: LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership Volume by Deal Type (2008 - YTD*2012) ...... 43
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH MOET HENNESSY LOUIS VUITTON SA: COMPANY OVERVIEW
LVMH Moet Hennessy Louis Vuitton SA: Overview and Key Facts
LVMH Moet Hennessy Louis Vuitton SA: Overview
LVMH Moet Hennessy Louis Vuitton SA (LVMH or "the company") produces and markets luxury goods under various product categories and brands. The company primarily operates in Europe, Asia and the US. It is headquartered in Paris, France and employed 97,559 people, of whom 79,138 were full-time employees, as of December 31, 2011.
The company recorded revenues of E23,659 million (approximately $32,942.8 million) in the financial year ended December 2011 (FY2011), an increase of 16.4% over FY2010. The operating profit of LVMH was E5,154 million (approximately $7,176.4 million) in FY2011, an increase of 23.6% over FY2010. The net profit was E3,065 million (approximately $4,267.7 million) in FY2011, an increase of 1.1% over FY2010.
LVMH Moet Hennessy Louis Vuitton SA: Key Facts
Table 1: LVMH Moet Hennessy Louis Vuitton SA: Key Facts
Corporate Address: 22 avenue Montaigne
Paris 75008
Country: France
Fax: 33 1 44 13 22 23
Phone: 33 1 44 13 22 22
Web Address: www.lvmh.com
Turnover (US$m): 32,943
Employees: 97,559
Financial Year End: December
Industry: Retailing
Primary Stock Exchange (Ticker): Nyse Euronext - Euronext Paris (MC)
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Key Employees
Table 2: LVMH Moet Hennessy Louis Vuitton SA: Key Employees
Employee Name Job Title Board Age Since
Antonio Belloni Group Managing Director Executive Board 57
Chairman and Chief Executive Bernard Arnault Executive Board 63 1989 Officer
President, Watches and Francesco Trapani Executive Board 55 Jewelry
Head, Development and Nicolas Bazire Executive Board 55 Acquisitions
Pierre Gode Vice Chairman Executive Board 68
Executive Vice President, Chantal Gaemperle Human Resources and Senior Management 50 2007 Synergies
Chief Executive Officer, Chris de Lapuente Senior Management 49 2011 Sephora
Chief Executive Officer, Moet Christophe Navarre Senior Management 54 2001 Hennessy
Chairman, LVMH Investment Daniel Piette Senior Management 67 Funds
Edward J. Brennan Chairman, DFS Group Senior Management 56 2001
Jean-Baptiste Voisin Director, Strategy Senior Management 45 2006
Jean-Jacques Guiony Chief Financial Officer Senior Management 51 2004
Chief Executive Officer, LVMH Inc., and Chairman and Chief Mark Weber Senior Management 2006 Executive Officer, Donna Karan Internatio
Patrick Ouart Advisor to the Chairman Senior Management 53
Pierre-Yves Roussel President, LVMH Fashion Senior Management 47 2006
Chairman and Chief Executive Yves Carcelle Senior Management 64 Officer, Louis Vuitton Malletier
Albert Frere Independent Director Non Executive Board
Antoine Arnault Director Non Executive Board
Bernadette Chirac Independent Director Non Executive Board
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Charles de Croisset Independent Director Non Executive Board
Delphine Arnault Director Non Executive Board
Diego Della Valle Independent Director Non Executive Board
Gilles Hennessy Director Non Executive Board
Hubert Vedrine Independent Director Non Executive Board
Lord Powell of Bayswater Director Non Executive Board
Marie-Josee Kravis Independent Director Non Executive Board
Nicholas Clive Worms Independent Director Non Executive Board
Yves-Thibault de Silguy Independent Director Non Executive Board
SOURCE:MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Key Employee Biographies
Antonio Belloni
Mr. Belloni is the Group Managing Director at LVMH. He is also a member of the Board of Directors and the Chairman of the Executive Committee at the company. Mr. Belloni joined LVMH in 2001. He is also a member of the Colipa Europe (European Cosmetics Association) Chairmen's Committee. Mr. Belloni began his career in 1978 with Procter & Gamble and held a variety of positions of increasing responsibility in the US, Greece, Belgium and Switzerland before being appointed the Chairman in 1999.
Board: Executive Board
Job Title: Group Managing Director
Salary (US$): 5,587,687
Age: 57
Bernard Arnault
Mr. Arnault has been the Chairman and Chief Executive Officer at LVMH since 1989. He also serves as the President of the Board of Directors at Groupe Arnault. Mr. Arnault began his professional career in 1971 as an Engineer with Ferret-Savinel and subsequently was promoted to various executive management positions before becoming Chairman in 1978. He also worked at Financiere Agache.
Board: Executive Board
Job Title: Chairman and Chief Executive Officer
Salary (US$): 4,531,565
Since: 1989
Age: 63
Francesco Trapani
Mr. Trapani is the President of Watches and Jewelry segment at LVMH. He is also a member of the Board of Directors and the Executive Committee at the company. Mr. Trapani joined LVMH in 2011.
Board: Executive Board
Job Title: President, Watches and Jewelry
Age: 55
Nicolas Bazire
Mr. Bazire is the Head of Development and Acquisitions at LVMH. He has also been a Director at the company since 1999. Mr. Bazire served as Cabinet Director for Prime Minister Edouard Balladur from 1993 to 1995. In 1995, he joined Rothschild et Cie Banque as a Managing Partner. Mr. Bazire was appointed the Managing
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Director at Groupe Arnault in 1999. He is also a member of the Boards at Carrefour, Suez Environnement and Atos Origin and a member of the Supervisory Board at Rothschild et Cie Banque.
Board: Executive Board
Job Title: Head, Development and Acquisitions
Age: 55
Pierre Gode
Mr. Gode is the Vice Chairman at LVMH. He is a Director and a member of the Executive Committee at the company. Mr. Gode is also the Chairman of the Board and a Board member of several listed and unlisted companies. He has also been a member of the French Competition Authority (College de l'Autorite de la Concurrence) since 2009. Mr. Gode began his career as a Lawyer with Lille bar. He is a tenured Law Professor at the Lille law faculty and Director of the Institut Universitaire de Technologie.
Board: Executive Board
Job Title: Vice Chairman
Age: 68
Chantal Gaemperle
Ms. Gaemperle has been the Executive Vice President of Human Resources and Synergies at LVMH since 2007. She was Recruitment and Human Resources Development Manager at Philip Morris from 1991 to 1995. Subsequently, Ms. Gaemperle joined Merrill Lynch International as Head of Human Resources for Switzerland. In 2001, she was appointed the Head of Corporate Management Development and Sourcing and a member of the Management Committee at Nestle.
Board: Senior Management
Job Title: Executive Vice President, Human Resources and Synergies
Since: 2007
Age: 50
Chris de Lapuente
Mr. Lapuente has been the Chief Executive Officer at Sephora (a brand of LVMH) since 2011. He joined Procter & Gamble in 1983 and held variety of positions of increasing responsibility in different countries, including the UK, Spain, Turkey, Germany and Switzerland. In 2004, Mr. Lapuente was appointed the President of Hair Care division at Procter & Gamble.
Board: Senior Management
Job Title: Chief Executive Officer, Sephora
Since: 2011
Age: 49
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Christophe Navarre
Mr. Navarre has been the Chief Executive Officer at Moet Hennessy (a brand of LVMH) since 2001. He joined Continental Bank in 1980 and then moved to Exxon, where he held marketing and sales positions with the Esso group. In 1989, Mr. Navarre joined Interbrew, where he headed several Italian and French subsidiaries. He joined LVMH in 1997 as the President and Chief Executive Officer at JAS Hennessy & Co.
Board: Senior Management
Job Title: Chief Executive Officer, Moet Hennessy
Since: 2001
Age: 54
Daniel Piette
Mr. Piette is the Chairman at LVMH Investment Funds, a subsidiary of LVMH. He joined LVMH as an Executive Vice President in 1990. Mr. Piette also served as the Head of the DMC Fashion and Textiles Division. He also worked with Matra-Manurhin and Bosch. Mr. Piette began his career with Arthur D. Little in the US.
Board: Senior Management
Job Title: Chairman, LVMH Investment Funds
Age: 67
Edward J. Brennan
Mr. Brennan has been the Chairman at DFS Group (a brand of LVMH) since 2001. He served as the President for North America and Hawaii regions at DFS Group previously. Mr. Brennan joined DFS Group in 1997 as the Executive Vice President of Merchandising and Operations for Hawaii region. He serves on the LVMH Executive Committee and is a Director at Onboard Media and Starboard. He is the co-founder and Chairman of the Hand in Hand for Haiti charity.
Board: Senior Management
Job Title: Chairman, DFS Group
Since: 2001
Age: 56
Jean-Baptiste Voisin
Mr. Voisin has been the Director of Strategy at LVMH since 2006. He was Co-Leader of the retail practice for Europe and then worldwide. Mr. Voisin joined McKinsey & Company in 1996 and became a Partner in 2002. He began his career with Danone France in production and then marketing.
Board: Senior Management
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Job Title: Director, Strategy
Since: 2006
Age: 45
Jean-Jacques Guiony
Mr. Guiony has been the Chief Financial Officer at LVMH since 2004. He began his career in 1985 as a Research Analyst with Banque Nationale de Paris in Paris and then joined Merrill Lynch in 1988 in London. In 1990, Mr. Guiony joined the Mergers and Acquisitions department of Lazard Freres, became a Partner in 1997 and then Head of Mergers and Acquisitions in 2000. He joined LVMH in 2003 as Deputy Finance Director. Mr. Guiony is also Chairman and Chief Executive Officer at La Samaritaine. He is a member of the LVMH Executive Committee.
Board: Senior Management
Job Title: Chief Financial Officer
Since: 2004
Age: 51
Mark Weber
Mr. Weber has been the Chief Executive Officer at LVMH Inc. (a subsidiary of LVMH) and the Chairman and Chief Executive Officer at Donna Karan International (another subsidiary of LVMH) since 2006. He began his career at PVH Corp, becoming President, Board member and Chief Executive Officer. Mr. Weber is a member of the LVMH Executive Committee and serves on the Board of Directors at Edun.
Board: Senior Management
Job Title: Chief Executive Officer, LVMH Inc., and Chairman and Chief Executive Officer, Donna Karan Internatio
Since: 2006
Patrick Ouart
Mr. Ouart is the Advisor to the Chairman at LVMH. From 1993 to 1995, he was Justice Advisor to the Prime Minister and subsequently Secretary General of the Grande Chancellerie de la Legion d'Honneur. Mr. Ouart joined the Suez group in 1998 and became Corporate Secretary. He joined LVMH in 2004 as Advisor to the Chairman and Chief Executive Officer and a member of the Executive Committee. He rejoined the company in 2009 after serving as Advisor to the President of the French Republic from 2007 to 2009.
Board: Senior Management
Job Title: Advisor to the Chairman
Age: 53
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Pierre-Yves Roussel
Mr. Roussel has been the President of Fashion segment at LVMH since 2006. He joined LVMH in 2004 as the Executive Vice President of Strategy and Operations. Mr. Roussel worked with McKinsey & Cie previously and held a variety of executive positions. He began his career as an Analyst with the bank CCF.
Board: Senior Management
Job Title: President, LVMH Fashion
Since: 2006
Age: 47
Yves Carcelle
Mr. Carcelle is the Chairman and Chief Executive Officer at Louis Vuitton Malletier (a brand of LVMH). He joined LVMH in 1989 as Strategic Director. Mr. Carcelle is also a member of the LVMH Executive Committee and a Board member at several LVMH fashion companies, including Berluti, Marc Jacobs, Loewe and Fendi. Mr. Carcelle is also a Board member at Comite Colbert and Palais de Tokyo in Paris.
Board: Senior Management
Job Title: Chairman and Chief Executive Officer, Louis Vuitton Malletier
Age: 64
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Major Products and Services
LVMH produces and markets luxury goods under various product categories and brands. The company's key products and services include the following:
Products:
Wines and spirits Fashion and leather goods Perfumes and cosmetics Watches and jewelry
Brands:
Wines and spirits:
Moet & Chandon Dom Perignon Veuve Clicquot Ponsardin Krug Mercier Ruinart Chateau d'Yquem Cloudy Bay Cape Mentelle Hennessy Glenmorangie Belvedere Domaine Chandon California Domaine Chandon Australia Bodegas Chandon Newton Terrazas de Los Andes Cheval des Andes 10 Cane Rum Wenjun Numnthia Cheval Blanc
Fashion and leather goods:
Louis Vuitton Loewe Celine Berluti Kenzo Givenchy Mark Jacobs Fendi Emilio Pucci Thomas Pink Donna Karan Nowness
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Rossimoda
Perfumes and cosmetics:
Parfums Christian Dior Guerlain Parfums Givenchy Kenzo Parfums Benefit Cosmetics Fresh Make Up For Ever Aqua de Parma Perfumes Loewe Fendi Perfumes
Watches and jewelry:
TAG Heuer Zenith Hublot Dior Watches Fred Chaumet De Beers Bulgari
Selective retailing:
DFS Miami Cruiseline Sephora Le Bon Marche Rive Gauche La Samaritaine
Other:
Groupe Les Echos Royal Van Lent
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Company History
LVMH was established in 1987 as a result of the merger between Moet Hennessy and Louis Vuitton. In 1988, LVMH acquired Givenchy couture house.
In 1991, the company acquired the champagne brand Pommery. LVMH acquired Christian Lacroix couture house and Kenzo group (fashion and fragrances) in 1993. In the same year, the company took over the Desfosse's International economic press group, publishers of the nancial dailies La Tribune-Desfosses, and L'Age, and the weekly Investir. LVMH acquired Guerlain in 1994, Fred (one of the leading jewelers in the world) in 1995 and the leather goods specialist Loewe in 1996.
LVMH acquired a 61.25% stake in DFS (one of the leading distributors of luxury goods in the world) in 1997. In the same year, the company acquired Sephora, France's leading retail chain for fragrances and cosmetics in sales, and second in Europe. Also in 1997, LVMH signed new retail agreements in the wines and spirits sector with Diageo. The company purchased Le Bon Marche, and Parfumeries Marie-Jeanne Godard in 1998.
In 1999, the company acquired Krug (champagne producer), Chateau d'Yquem, Thomas Pink (one of Britain's well known shirt designers), and Phillips (the world's third largest auction company). It also acquired a 34.4% stake in Gucci, a 51% stake in Fendi within a 50-50 joint venture with Prada, and a 33.3% stake in Le Tanneur et Cie. Also in 1999, LVMH rolled out sephora.com in the US. During 1999, the company also created a new business segment, watches and jewelry, by acquiring TAG Heuer, Ebel, Chaumet, and Zenith. It also acquired three American companies, Bliss, Hard Candy, and BeneFit, to strengthen its perfumes and cosmetics business. Later in 1999, the company acquired Make Up For Ever, a French professional makeup brand.
LVMH acquired Miami Cruiseline Services, the world leader in the duty free sale of luxury goods on cruise ships, in 2000. In the same year, the company acquired 67% of Pucci's capital. Also in 2000, LVMH acquired Urban Decay (an American cosmetics company), Connaissance des Arts (an art magazine), Omas (an Italian producer of prestigious pens), Art and Auction Magazine (an American publication), and Newton and MountAdam (two wineries located in California and Australia, respectively). During 2000, the company also acquired a majority stake in Fresh (an American cosmetics company), and a 3.5% stake in Tod's (the Italian luxury house).
In 2001, the company began marketing De Beers diamond jewelry through a 50-50 joint venture with De Beers. In the same year, LVMH acquired a majority stake in La Samaritaine (one of the leading department stores in Paris) and Gabrielle Studio (owner of Donna Karan, the American fashion label). Further in 2001, de Pury & Luxembourg Art (private sales company) merged with Phillips. The new company was named Phillips, de Pury & Luxembourg.
LVMH sold its Pommery champagne brand to Vranken Monopole champagne group, along with certain assets belonging to Pommery such as its site in Reims, its cellars, its champagne stocks and its supply contracts, in 2002. During the same year, the company reached an agreement to acquire 40% interest in Millennium Import Company, an operating division of Phillips Beverage Company of Minneapolis, US. Also in 2002, LVMH ceased trading on the Brussels and NASDAQ Stock Exchanges.
In 2003, the company sold its stake in Hard Candy and Urban Decay make up brands to Falic Group, owner of Duty Free Americas. In the same year, the company sold its Michael Kors fragrance brand license to The Estee Lauder Companies. LVMH also sold Canard-Duchene to Alain Thienot, watchmaker Ebel to Movado Group, and its majority interest in the auction house Tajan to Rodart. Further in 2003, the company sold its remaining 27.5% stake in Phillips, de Pury & Luxembourg to its majority shareholders. Later in 2003, Sephora signed a partnership agreement with Maxim Klimov (owner of the L'Etoile retail chain) to develop Sephora across Russia.
The company, in 2004, sold its Bliss brand to Starwood Hotels & Resorts Worldwide, owner of the W and Sheraton hotel chains. In 2005, LVMH acquired Glenmorangie, a distiller of single malt scotch whiskey brands such as Glenmorangie, Ardbeg and Glen Moray, through its Moet Hennessy subsidiary and took over the distribution of its malt whisky brands worldwide. In the same year, the company sold Christian Lacroix to the American luxury duty-free retail group owned by the Falic family. Also in 2005, Moet Hennessy acquired
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operational control of the Millennium Company. Subsequently, Moet Hennessy created Moet Hennessy USA in order to combine the expertise, brand portfolios, sales and marketing networks of Schieffelin & Co Clicquot and Millennium Import.
In 2006, the Paris Court of Appeal passed a judgment in favor of LVMH regarding the inaccuracy in the conduct of Morgan Stanley's financial analysis. As per the decree, Morgan Stanley will have to compensate for damages, both moral and material damage, caused to LVMH. In the same year, the company received favorable judgment in another lawsuit against Google and its French subsidiary regarding trademark counterfeiting, unfair competition and advertising. In a judgment handed down by the Paris Court of Appeals, Google had been forbidden from using any of LVMH's trademarks in advertising activity on all of its websites accessible from France. The court also increased the damages allocated for trademark counterfeiting, unfair competition and advertising to E300,000 ($418,380). LVMH was also granted an additional E60,000 ($83,676) in compensation for its legal expenses, in addition to the E15,000 ($20,919) initially granted.
Moet Hennessy, the wines and spirits business of LVMH, acquired 55% equity investment in Wen Jun Distillery, one of China's premium white spirit companies, in 2007. In the same year, Millennium Import, an affiliate of Moet Hennessy, reached an agreement with Belvedere Winery to acquire the Belvedere trademarks, goodwill, and domain name in the US. Also in 2007, LVMH signed an agreement with Pearson to complete the acquisition of the Les Echos Group.
In 2008, Moet Hennessy acquired Spanish winery, Bodega Numanthia Termes, from its founders, the Eguren family. In the same year, LVMH acquired the Hublot group, a watchmaker. Also in 2008, the company signed an exclusive agreement with Egeria to acquire Royal van Lent, the Dutch designer and builder of luxury custom mega-yachts sold under the Feadship brand. Further in 2008, Sephora acquired a 45% stake in the selective Russian perfumery chain "Ile de Beaute". Later in the year, Moet Hennessy acquired the Montaudon champagne house.
LVMH acquired a 50% stake in Cheval Blac, a French wine production company, and a 50% stake in La Tour du Pin, which owns Chateau Quinault l'Enclos estate, a Grand Cru classe, in 2009. In the same year, a favorable judgment was passed in the LVMH versus eBay case accusing the latter of selling counterfeit goods. The Paris Tribunal de Grande Instance found eBay responsible for brand counterfeiting and directed it to pay E80,000 ($111,568). The Tribunal also forbid eBay from continuing any such activities and announced that it would enforce a fine of E1,000 ($1,394.6) per future infringement.
In 2010, the company created "LVMH Hotel Management" to oversee its activities in the luxury hotel sector. In the same year, the company acquired a 70% controlling stake in Sack's, one of the leading online retailers of fragrances, cosmetics and toiletries and one of the leading companies in the whole specialty beauty distribution sector in Brazil. The acquisition of Sack's marked Sephora's entry into the Brazilian perfumes and cosmetics market. Later in 2010, LVMH increased its stake in Hermes International to 17.1%.
In March 2011, LVMH acquired a 50.4% stake in Bulgari, an Italy-based manufacturer and retailer of luxury jewelry, fragrances and silk and leather accessories. In July 2011, Sephora launched an iPad application in the US. In September 2011, the company launched mandatory public tender offer to acquire the remaining stake in Bulgari.
LVMH acquired 100% stake in Bulgari in October 2011. In the same month, the company reached an agreement to jointly own and control Heng Long International with its founders and controlling shareholders, the Koh family. Under the agreement, HLI Holding Pte. Ltd. (HLI), a holding company, would make a cash offer for 100% of the outstanding shares in Heng Long for a total consideration of S$160.8 million (approximately $122 million). Upon the closing of the offer, 51% of HLI would be owned by LVMH and 49% by the Koh family. Further in the month, LVMH opened a new research centre named Helios at Saint-Jean-de-Braye, Orleans. In November 2011, the company acquired 100% of the shares of ArteCad, one of the leading manufacturers of Swiss watch dials.
In May 2012, LVMH partnered with the European Commission to promote best environmental behaviors in the framework of Green Week 2012. The company also launched its own internal Green Week to encourage all of its employees to adopt environmental practices. In August 2012, the company filed a lawsuit against Armand de
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Brignac (Armand) alleging that Armand was misleading its consumers about the quality of its fizz (which includes Armand de Brignac Brut Gold NV) as well as by announcing it as the number one champagne in the world. In September 2012, the company announced plans to open a resort hotel in the Maldives ajar in 2013.
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LVMH Moet Hennessy Louis Vuitton SA: Management Statement
A statement by Bernard Arnault, Chairman and Chief Executive Officer at LVMH, is given below. The statement has been taken from the company's Annual Report for FY2011.
Our businesses once again showed excellent momentum in 2011. These excellent figures are a direct consequence of our culture of innovation and creativity, as well as our obsessive focus on the quality of our products.
One event of the past year which comes to mind in particular is the tragedy that struck Japan in March 2011. From a personal perspective and on behalf of all LVMH employees, I would like to reiterate the admiration we feel for the Japanese people. Admiration for their bravery and strength of character in this extremely trying time, for the speed with which the regions affected by the catastrophe launched their reconstruction projects, and for the way our Japanese colleagues orchestrated a return to normality. Thanks to them, our operations were re- established in record time. And our customers returned in even greater numbers to our stores... a tremendous expression of faith in the future and loyalty to the Group's brands.
LVMH AND BULGARI: A SHARED CULTURE, A SHARED ENTREPRENEURIAL SPIRIT
The alliance we made with the Bulgari family was one of the key moments of 2011. This legendary Italian label is one of the most outstanding pioneers of authentic, accomplished European craftsmanship. As well as being a leading jeweler and watchmaker, Bulgari also has perfume and leather goods lines. We share the same values, the same respect for heritage and brand identity as well as the same entrepreneurial culture. Now that we have joined forces with Bulgari, our Watches and Jewelry business group has strengthened its capabilities and savoir-faire and is reaping the benefits of new synergies. It has also significantly increased its market share and ability to finance growth projects.
2012: MANAGING WITH A STEADY HAND, INVESTING RESOLUTELY AND JUDICIOUSLY
The beginning of 2012 has continued amid the same uncertain environment in Europe as the last few months of 2011. However, the world as a whole is experiencing growth. Building on the strengths of the Group's brands, the oldest of which trace their heritage back to the sixteenth century, means following major shifts in worldwide demand. At the same time, we will remain vigilant, close to our markets and responsive, a stance made possible thanks to our decentralized organization. We will also persevere with our program of selective investments in our businesses. LVMH has always grown stronger in periods of uncertainty, while remaining true to the Group's values: creativity, high quality craftsmanship and entrepreneurial spirit.
ATTRACTING TOP-TIER TALENT
Thanks to the Group's diversity and culture, we are able to attract the most creative and talented people, whether they are rising stars of tomorrow or have already garnered international renown. We offer these exceptional individuals exciting, challenging projects and we know just what it takes to light the spark that makes the difference by matching each of them with the most suitable brand. But the Group also attracts the best managers; we offer them a unique environment and unequalled career development prospects. Attracting, incubating and nurturing the most promising talent are strategic priorities for all our businesses.
DEDICATING THE RESOURCES REQUIRED TO MAINTAIN EXCEPTIONAL QUALITY
We ensure the quality of our products by carefully controlling the way they are made and by conserving our savoir-faire. The year saw the opening of three new workshops by Louis Vuitton, including one in Marsaz (Drôme region of France), which will employ 250 craftspeople. This production unit was not designed simply to perpetuate Louis Vuitton's pursuit of perfection, but also as a showcase for sustainable development. Louis Vuitton is also preparing to open a jewelry workshop in Place Vendôme, Paris. In Bordeaux, Château Cheval Blanc opened its new wine storehouse, superbly combining architectural aesthetics and wine-producing excellence. In Switzerland, Bulgari, TAG Heuer, Hublot and Zenith continue to enhance their technological
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expertise along with their watchmaking capacity. These are just a few examples of the resources deployed to ensure the future growth of our businesses and maintain the quality which has made our brands so successful since their inception.
The entrepreneurial culture throughout the Group allows us to constantly explore an ever-changing world, identify new and promising concepts, as well as the best opportunities in the market, make quick decisions, find the right teams and allocate the necessary financial resources to invest in new regions and build solid market positions. Examples include Sephora's rapid penetration into the Chinese market, Make Up For Ever's success in making professional make-up products accessible to the general public, and the ready-to-wear project launched for Berluti, which can now realize its full potential in the world of menswear.
FACING THE FUTURE, WITH CONFIDENCE
I would like to conclude by reaffirming my conviction that a bright future is in store for the LVMH group. The dreams and emotions fueled by our brands transcend geographical and historical boundaries. The immense success of the Journées Particulières in October 2011, an unprecedented opportunity for the public to visit our workshops and historic sites, demonstrates the abiding fascination exerted by the excellence of our teams' craftsmanship and the time-honored heritage of our brands. It is also important, as ever, to note the tireless commitment of all our teams, their exemplary adherence to our values and ambitions, their willingness to go the extra mile. These are the essential foundations for our continuing success.
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LVMH Moet Hennessy Louis Vuitton SA: Locations and Subsidiaries
Table 3: LVMH Moet Hennessy Louis Vuitton SA: Locations and Subsidiaries
Guerlain Paris Givenchy Corp. Kungsholm Strand 127 19 East 57th Street Stockholm 11233 New York Sweden New York 10022 46 8 442 5370 United States 46 8 442 5249
HUBLOT SA Louis Vuitton Deutschland GmbH Chemin de la Vuarpilliere 33 Konigsallee 62 Nyon 1260 Dusseldorf 40212 Switzerland Germany 41 22 990 90 00 492 1186 4700 41 22 990 90 29 492 1186 47099
LVMH Asia Pacific Ltd. Moet Hennessy do Brasil 34/F Dorset House Avenida Brasil 1814 Taikoo Place Jd. America 979 King's Road Sao Paulo 01430 001 Quarry Bay Brazil Hong Kong Special Administrative Region of China 55 11 30 62 83 88 852 2968 9288 55 11 30 68 89 92 852 2968 9222
Sephora Beauty Canada, Inc. Veuve Clicquot UK Ltd. 1500 rue Stanley 13 Grosvenor Gardens Suite A SW1W 0DH Montreal London Quebec H3A 1R3 United Kingdom Canada 44 20 7235 9411 1 514 932 1616 44 20 7235 6937 1 514 933 5512
LVMH Perfumes & Cosmetics China. Co. Ltd. Moët Hennessy Australia Pty. Ltd. Suite 2806 Tower 1 Level 3 / 61 Dunning Avenue Plaza 66 Roseberry No.1266 Nanjing Road(W) New South Wales Shanghai 200040 Australia China 61 2 8344 9900 86 21 6288 1688 61 2 8344 9999 86 21 5899 7380
SOURCE: MARKETLINE
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LVMH Moet Hennessy Louis Vuitton SA: Key Competitors
Table 4: LVMH Moet Hennessy Louis Vuitton SA: Key Competitors
Burberry Group plc Compagnie Financiere Richemont AG
PPR SA Signet Jewelers Limited
Tiffany & Co.
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH MOET HENNESSY LOUIS VUITTON SA: COMPANY ANALYSIS
LVMH Moet Hennessy Louis Vuitton SA: Business Description
LVMH, one of the leading luxury goods companies in the world, is engaged in the manufacturing and sale of wines, spirits, perfumes, cosmetics, watches, jewelry, and fashion and leather products. The company owns more than 60 luxury brands. LVMH offers its products through a network of about 3,040 stores worldwide. At the end of FY2011, the company operated 883 stores in Europe (excluding France), 621 stores each in the US and Asia (excluding Japan), 390 stores in France, 360 stores in Japan, and 165 stores in other countries.
The company operates through six business segments: fashion and leather goods, selective retailing, wines and spirits, perfumes and cosmetics, watches and jewelry, and other and holding companies.
The fashion and leather goods segment includes the following brands: Louis Vuitton, Fendi, Donna Karan, Loewe, Marc Jacobs, Celine, Kenzo, Givenchy, Thomas Pink, Emilio Pucci, Berluti, Nowness, and Rossimoda. Louis Vuitton brand offers a full range of products, including leather goods, ready-to-wear for men and women, shoes and accessories, watches, jewelry and eyewear. Fendi specializes in furs, and also offers leather goods, accessories and ready-to-wear fashion, whereas Donna Karan offers ready-to-wear lines, the luxury Collection line, and DKNY, a more casual clothing line. Loewe specializes in leather goods and ready-to-wear, and Marc Jacobs in fashion for men and women. Celine develops a ready-to-wear line, leather goods, shoes and accessories; Kenzo operates in the areas of ready-to-wear for men and women, fashion accessories, leather goods and home furnishings. Givenchy is known for its collections of men and women's ready-to-wear and its fashion accessories. Thomas Pink specializes in high-end shirts in England and Emilio Pucci in casual fashion in luxury ready-to-wear. Berluti designs and markets men's shoes, a line of leather goods, and a line of ready-to- wear for men. Rossimoda manufactures and distributes licensed luxury women's footwear. This segment operated through a network of 1,246 stores throughout the world in FY2011.
The selective retailing segment operates in two divisions: travel retail and selective retail concepts. Duty Free Shoppers (DFS) and Miami Cruiseline sell luxury products to international travelers whereas Sephora and Le Bon Marche banners represent selective retail concepts. These companies operate in Europe, North America, Asia and the Middle East. DFS primarily operates Galleria stores in 20 international airports. DFS's 13 Gallerias are located in the urban centers of major airline destinations in the Asia Pacific region, the US and Japan. Miami Cruiseline is the premier onboard retailer which offers cruise ship passengers luxury products at tax and duty free savings. It provides retail services to more than 80 ships representing about several cruise lines worldwide. Sephora is a selective fragrance and cosmetics retail chain. It operates more than 1,000 stores in approximately 20 countries worldwide. Le Bon Marche consists of three activities: department stores with Le Bon Marche Rive Gauche and Franck et Fils on rue de Passy in Paris; fine foods with La Grande Epicerie de Paris; and real estate with 23,500 square meters of rental buildings. Selective retailing segment operated through a network of 1,368 stores in FY2011.
The wines and spirits segment is classified into two divisions: champagne and wines, and cognac and spirits. The champagne and wines division markets champagne brands such as Moet & Chandon, Dom Perignon, Veuve Clicquot Ponsardin, Krug, Mercier, Ruinart and Montaudon. It also develops and distributes high-end still and sparkling wines from France, Spain, California, Argentina, Brazil, Australia and New Zealand. These wines are sold under brands such as Chandon, Chateau d'Yquem, Cloudy Bay, Cape Mentelle, Newton, Green Point, among others. During FY2011, the company sold 55.5 million bottles of champagne and 41.8 million bottles of still and sparkling wines. The cognac and spirits division sells cognac under the popular Hennessy brand and vodka under Belvedere and Chopin brands. It also sells single malt whisky brands Glenmorangie and Ardbeg, luxury rum under the 10 Cane brand, and white liquor under the Wen Jun brand. During FY2011, the company sold 63.5 million bottles of cognac and 14.1 million bottles of other spirits.
The perfumes and cosmetics segment manufactures and sells fragrances, skin care products, makeup products, and other cosmetics. LVMH's perfumes and cosmetics brands include Parfums Christian Dior, Guerlain, Parfums Givenchy, and Parfums Kenzo, Benefit Cosmetics, Fresh, Acqua di Parma, Parfums Loewe, Parfums Fendi and
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Make Up For Ever.
The watches and jewelry segment includes TAG Heuer, the maker of luxury sports watches and chronographs; Zenith, an upscale watchmaker; Montres Dior as well as Hublot watch brands. It also includes Chaumet, the jeweler in the Place Vendome in Paris; Fred, a designer of contemporary jewelry pieces; and De Beers Diamond Jewellers, a diamond jeweler.
The other activities segment includes the media business, the real estate complex Samaritaine, and the luxury yacht maker Royal Van Lent.
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LVMH Moet Hennessy Louis Vuitton SA: SWOT Analysis
LVMH Moet Hennessy Louis Vuitton SA: SWOT Overview
LVMH produces and markets luxury goods under various product categories and brands. The company has a strategically balanced product portfolio and revenue streams that reduce its business risk and provide cross selling opportunities. However, increased counterfeit crime could affect sales of the company's brands and in turn its revenues.
Strengths Weaknesses
Market focus through strong brand portfolio Increase in debt burden Diversified business in terms of business segments and geographic presence Strong financial performance
Opportunities Threats
Growing market for luxury goods in Asia Pacific Counterfeit products lead to tarnished brand image and countries loss of sales Expansion through strategic acquisitions Intense competition Positive outlook for the global fragrances market Increasing labor cost in the US and Europe
LVMH Moet Hennessy Louis Vuitton SA: Strengths
Market focus through strong brand portfolio
LVMH produces and sells its products under different brands. The company operates through a multi- brand concept. LVMH owns more than 60 brands and many of these brands have leading positions in their respective market segments. In wine and spirits segment, LVMH's Hennessy, Moet & Chandon and Veuve Clicquot brands were ranked third, ninth and 19th, respectively, in the top 50 drinks brands 2012 list by an industry source. Moet & Chandon was also ranked 77th in the top 100 best global brands 2011 list by one of the world's largest brand consultancies. Hennessy and Moet et Chandon were also ranked fifth and 17th in the top 100 world's most powerful spirits and wine brands 2012 list by an industry source. Further, the company's Chandon brand is the leader in the super-premium sparkling wine segment in the US and Australia. Terrazas de los Andes brand is one of the leading brands in the super-premium Argentine wine segment. In fashion and leather segment, Louis Vuitton brand was ranked 21st in the top 100 world's most trusted brands 2012 list by one of the leading global research agencies.
In the watches and jewelry segment, TAG Heuer and Hublot were ranked 29th and 40th in the top 50 Swiss brands 2012 list by an industry source. In perfumes and cosmetics segment, Acqua di Parma has been a leading player on the luxury market for more than 100 years. Christian Dior brand was ranked 14th in the top 50 most valuable cosmetics brands in the world 2012 list by an industry source. Parfums Loewe brand is one of the leaders in the selective Spanish market for 20 years. In selective retailing segment, DFS is the world's leading luxury retailer which caters to international travelers. Groupe Les Echos is the leading economic and financial press group, with about 20 print and online publications.
Strong brand portfolio provides the company a competitive advantage and enables better acceptance of new product launches and leads to premium pricing of the LVMH's products.
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Diversified business in terms of business segments and geographic presence
LVMH is engaged in diversified businesses both in terms of business segments and geographies. It operates through six business segments: fashion and leather goods, selective retailing, wines and spirits, perfumes and cosmetics, watches and jewelry, and other and holding companies. Each of these business segments generates significant amount of revenues for LVMH. In FY2011, fashion and leather goods segment generated 36.7% of the total revenues. This was followed by selective retailing (27.1%), wines and spirits (14.8%), perfumes and cosmetics (12.1%), watches and jewelry (8.1%), and other and holding companies (1.3%).
Further, LVMH has an extensive store network and diversified geographic presence. The company operates through a network of about 3,040 stores worldwide. At the end of FY2011, LVMH operated 883 stores in Europe (excluding France), 621 stores each in the US and Asia (excluding Japan), 390 stores in France, 360 stores in Japan, and 165 stores in other countries. Its wide geographic presence shields it from risks related to excessive dependence on a single geographic market. Its largest geographic market, Asia (excluding Japan), accounted for 27.2% of its total revenues in FY2011, followed by the US (22.1%), Europe (excluding France) (20.3%), France (12.1%), Japan (8.3%), and other countries (10%).
Diversified business both in terms of business segments and geographic presence gives a competitive advantage to the company as it protects LVMH from downturn in any particular business segment and country.
Strong financial performance
The company has recorded strong financial performance since past few years. LVMH's revenues increased at a compound annual growth rate (CAGR) of 17.8% from E17,053 million ($23,744.6 million) in FY2009 to E23,659 million ($32,942.8 million) in FY2011. LVMH's profitability also increased significantly. The company's operating profit increased at CAGR of 27.7% from E3,161 million ($4,401.4 million) in FY2009 to E5,154 million ($7,176.4 million) in FY2011. Similarly, the net profit increased at a CAGR of 32.2% from E1,755 million ($2,443.7 million) in FY2009 to E3,065 million ($4,267.7 million) in FY2011. The strong performance was primarily driven by organic growth. In addition to the earnings of the company, the other financial parameters have been impressive. cash and cash equivalents with the company was E2,303 million ($3,206.7 million) in FY2011, E2,292 million ($3,191.4 million) in FY2010, and E2,446 million ($3,405.8 million) in FY2009. The strong financial performance enhances shareholders' confidence in the company and helps the company pursue growth opportunities through organic and inorganic route.
LVMH Moet Hennessy Louis Vuitton SA: Weaknesses
Increase in debt burden
LVMH has registered an increase in indebtedness. In FY2011, the net financial debt of the company stood at E4,660 million ($6,488.6 million), compared to E2,678 million ($3,728.8 million) in FY2010, a year-on- year increase of 74%. Further, the long term debt increased 20.4% to E4,132 million ($5,753.4 million) in FY2011, and short term debt by 70.9% to E3,134 million ($4,363.8 million). High debt obligations could make it difficult for the company to obtain additional financing to fund future working capital, capital expenditures and other general corporate requirements. In addition, high financial obligations limit LVMH's flexibility in planning and in reacting to changes in business and industry.
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Opportunities
Growing market for luxury goods in Asia Pacific countries
The global luxury goods market has been growing at a fast pace driven by strong growth in the Asian markets. China, and to some extent India, are responsible for the region's strong performance. Owing to the rapid economic development and higher disposable income in the hands of customers, the demand for luxury goods in China and India has been registering strong growth. China has become a key market for luxury retailers with an attractive growth rate because of its large population, high number of densely populated large cities, growing affluence, and local consumers' appetite for luxury as well as for globally recognized brands. According to industry estimates, the Chinese luxury market has been growing at an annual rate ranging from 25%-30%. Moreover, China is expected to become the world's largest luxury goods market. Similarly, industry sources estimate that the Indian luxury market is resilient and is witnessing year-on-year growth. Growing high net worth individuals (HNWI) concentration in emerging countries is estimated to drive the sales of luxury goods. The number of high net worth individuals in Asia Pacific is estimated to surpass that in North America by 2013, as per the recent industry estimates.
LVMH has focused on the high growth emerging markets as these markets provide immense opportunity for growth. In FY2011, Asia-Pacific (excluding Japan) represented the company's largest region in terms of revenue contribution, growing at a rate of 28.8% compared to the previous year. The Asia-Pacific region (excluding Japan) contributed 32% of LVMH's fashion and leather goods segment's total revenue in FY2011, 22% of perfumes and cosmetics segment's total revenues, and 26% of watches and jewelry segment's total revenues. The company has presence in Asia Pacific countries through several brands, including Louis Vuitton, Parfums Christian Dior, Guerlain, BeneFit, Fresh, Zenith, De Beers, Donna Karan, Thomas Pink, and Acqua di Parma, among others. By expanding its presence in these markets, LVMH can tap the growing demand for luxury goods. This, in turn, will help the group to not only diversify its geographic presence, but also increase its customer base and thereby improve its top line growth.
Expansion through strategic acquisitions
The company has been focusing on increasing its presence through strategic acquisitions. As part of this strategy, in November 2011, LVMH acquired 100% of the shares of ArteCad, one of the leading Swiss manufacturers of watch dials. This acquisition would enable the company to strengthen its industrial integration in watch-making as well as its independence in the area of watch dials. Similarly, in October 2011, LVMH launched a public tender offer over all ordinary shares of Bulgari after which LVMH held 98.09% of the share capital of Bulgari. Bulgari is an Italian manufacturer and retailer of luxury jewelry, fragrances and silk and leather accessories. The business combination would allow the company to further expand its presence in the Italian market. It also provides an opportunity for LVMH to increase its presence in the watch and jewelry segment.
Also, in October 2011, the company and the Koh family, the founders and controlling shareholders of Heng Long International, signed an agreement to jointly own and control Heng Long International. Under the agreement, LVMH, through its subsidiary HLI Holding, will make a cash offer for 100% of the outstanding shares in Heng Long for a total consideration of S$160.8 million (approximately $122 million). Following the close of the offer, the Koh family will re-invest a substantial portion of their proceeds from accepting the offer and, as a result, HLI Holding will be owned 51% by LVMH and 49% by the Koh family. The partnership with the Koh family will strategically complement LVMH in the procurement of high quality crocodilian skins. Such strategic acquisitions will help the company to generate incremental revenues as well as contribute for future growth.
Positive outlook for the global fragrances market
The global fragrances market is growing rapidly. According to industry estimates, the global fragrances market is expected to grow at a CAGR of nearly 6% during 2012-17 to reach $15.7 billion in 2017. This is primarily driven by rising demand for fragrances with natural ingredients as well as for high end perfumes.
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Additionally, the global perfumes and fragrances market is expected to perform well, driven by steady growth from emerging economies. LVMH manufactures and sells fragrances under Parfums Christian Dior, Parfums Givenchy, Parfums Kenzo, Acqua di Parma, and Fresh brands. Moreover, many of its brands hold leading positions across Asia, Europe and Americas. Therefore, positive outlook for the global fragrances market would enable the company to increase its sales in coming years.
LVMH Moet Hennessy Louis Vuitton SA: Threats
Counterfeit products lead to tarnished brand image and loss of sales
The counterfeit market has been growing in recent years driven by the internet counterfeit market. The abundance of counterfeit goods and accessories is adversely affecting the sales of branded products. With the advent of digital channels there has been a surge in the sale of counterfeit products. The spread of counterfeit goods has become global and the range of goods subject to infringement has increased significantly. According to the Intellectual Property Rights (IPR) Seizure Statistics by Customs and Border Protection (CBP) Office of International Trade, the number of IPR seizures in 2011 increased by 24% to 24,792 in 2011 from 19,959 in 2010. Counterfeit trade in perfume/cologne and health/personal care accounted for 15% and 7%, respectively, of the consumer safety and critical technology seizures value in the US in 2011. Furthermore, according to the European Commission, the number of detention cases registered by customs reached 91.254 in 2011, an increase of 15% compared to 2010. Of these, the number of detention cases registered under perfumes and cosmetics, watches, and jewelry and other accessories categories were 1.791, 5.336, and 1.783, respectively. Counterfeits of LVMH's brands are available in the market. For instance, in 2010, Philippine law-enforcers seized over 28,000 pieces of counterfeit Louis Vuitton goods worth more than $4 million. The seized products included handbags, pouches, leather cases, shoulder bags and other accessories bearing the company's logo. Counterfeit products, low on quality could hurt customer loyalty when they buy such products by mistake. LVMH was in legal battles with some of the most popular retailers like eBay and Wal-Mart relating to sale of counterfeit products. Such events could hurt the company's relations with the retailers. Brands being its main assets, LVMH will have to divert significant amount of resources to protect its brands in the backdrop of rising counterfeit crimes.
Intense competition
The markets for fashion and accessories, perfumes, cosmetics, watches, and jewelry are highly competitive. In each of its geographic markets, the company faces significant competition from global and regional branded apparel, perfumes, cosmetics, watches, and jewelry companies. In the watches and jewelry segment, the company's main competitor is Compagnie Financiere Richemont whereas in fashion and leather goods segment it competes mainly with Gucci Group (a division of PPR). LVMH also competes with independent brands such as Ralph Lauren, and Burberry which have lower priced collections. Apart from this, the company's key competitors also include Signet Jewelers Limited and Tiffany in the jewelry segment. The key competitive factors in the industry include the performance and reliability of products, new product development, price, product identity, and customer support and service. Further, the company also faces significant competition from some of its large wholesale customers as they sell fashion and accessories, perfumes, cosmetics, watches and jewelry under their own private labels. High level of competition in the market place could negatively impact the market share of the company.
Increasing labor cost in the US and Europe
In recent years, labor costs have risen in the US and Europe. The tight labor markets increased overtime, government mandated increases in minimum wages and a higher proportion of full-time employees are resulting in an increase in labor costs. The federal minimum wage rate in the US, which remained at $5.15 per hour since 1998, increased to $5.85 per hour in 2008. Further, it increased to $6.55 per hour in 2009
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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and to $7.25 per hour in 2010. Additionally, many states and municipalities in the country have minimum wage rate higher than the federal minimum wage rate due to higher cost of living. Similarly, in Europe, hourly labor costs in the EA17 zone increased by 1.6% in the year up to the second quarter of 2012. In comparison, in EU27 zone, the hourly labor costs increased 1.8% during the same period. LVMH has 45% and 24% of its employees in Europe and the US. The increase in labor costs in its key markets could affect the company's margins.
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH MOET HENNESSY LOUIS VUITTON SA: CORPORATE FINANCIAL DEALS ACTIVITY
LVMH Moet Hennessy Louis Vuitton SA: Financial Deals Overview
Figure 1: LVMH Moet Hennessy Louis Vuitton SA: Figure 2: LVMH Moet Hennessy Louis Vuitton SA: Deal Activity by Deal Type - Volume (TTM*) M&A Activity by Geography (TTM*)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 5: LVMH Moet Hennessy Louis Vuitton SA: Deal Table 6: LVMH Moet Hennessy Louis Vuitton SA: M&A Activity by Deal Type - Volume (TTM*) Activity by Geography (TTM*)
Deal Type Deal Volume Geography Deal Volume
Acquisition 3 Asia-Pacific 1
Partnership - Europe 2
Corporate Venturing 1 Middle East and Africa -
Capital Raising - North America -
Divestments 1 South and Central - America Private Equity 1 SOURCE: MARKETLINE SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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Figure 3: LVMH Moet Hennessy Louis Vuitton SA: Figure 4: LVMH Moet Hennessy Louis Vuitton SA: Deal Activity by Deal Type - Volume (2008 - M&A Average Deal Size - Value (US$m) YTD*2012)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 7: LVMH Moet Hennessy Louis Vuitton SA: Deal Table 8: LVMH Moet Hennessy Louis Vuitton SA: M&A Activity by Deal Type - Volume (2008 - YTD*2012) Average Deal Size - Value (US$m)
Deal Type 2008 2009 2010 2011 2012 Average Deal Year Deal Volume Size (US$m) ACQ 6 4 3 4 3 2008 6 65.7 CR 1 - - - - 2009 4 4 CV - - - - 1 2010 3 - DIV 1 - 2 - 1 2011 4 1,501.5 P'SHIP - - - 1 - 2012 3 - PE - - - - 1 SOURCE: MARKETLINE
Total 8 4 5 5 6
SOURCE: MARKETLINE
*ACQ = Acquisition; CR = Capital Raising; CV = Corporate Venturing; DIV = Divestment; P'SHIP = Partnership; PE =Private Equity & Ownership
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Targets and Partners
Table 9: LVMH Moet Hennessy Louis Vuitton SA: Targets and Partners
LVMH Moet Hennessy Deal Value Louis Vuitton SA- Deal Headline Deal Type Deal Date (US$m) Target/Partner (Country)
Jun 14, Arnys (France) LVMH Moet Hennessy acquires Arnys Acquisition - 2012
Moda Operandi, Inc. Moda Operandi raises $36 million in Series C Venture Jun 08, 36 (United States) funding Financing 2012
Tanneries Roux SAS LVMH Moet Hennessy acquires Les Tanneries May 03, Acquisition - (France) Roux 2012
Private Feb 09, Ochirly (China) LVMH acquires 10% stake in Ochirly - Equity 2012
Sephora SA (France) , Solazyme signs agreement with Sephora for Mar 07, Solazyme, Inc. (United Partnership - Algenist 2011 States)
LVMH Moet Hennessy Louis Vuitton receives Mar 05, Bulgari S.p.A. (Italy) approval from Italian stock market regulator to Acquisition 6,006 2011 acquire Bulgari
Nude Brands Limited Feb 11, LVMH acquires 70% stake in Nude Brands Acquisition - (United Kingdom) 2011
Ole Henriksen (United Feb 07, LVMH Moet Hennessy acquires Ole Henriksen Acquisition - States) 2011
Hermes International SA LVMH acquires additional 3.15% stake in Dec 21, Acquisition - (France) Hermes International 2010
Hermes International SA LVMH Moet Hennessy Louis Vuitton acquires Oct 23, Acquisition - (France) 14.2% stake in Hermes International 2010
LVMH Moet Hennessy to acquire 70% stake in Sack’s (Brazil) Acquisition Jul 02, 2010 - Sack’s
LVMH Moet Hennessy Louis Vuitton acquires Aug 13, Cheval Blanc (France) Acquisition - 50% stake in Cheval Blanc 2009
LVMH Moet Hennessy Louis Vuitton acquires Aug 13, La Tour du Pin (France) Acquisition - 50% stake in La Tour du Pin 2009
Sephora Polska Sp. z o.o. Empik Assets to sell 24% stake in Sephora Jun 03, Acquisition 16 (Poland) Polska to Sephora 2009
Edun Apparel, Ltd. LVMH Moet Hennessy Louis Vuitton acquires May 14, Acquisition - (Ireland) 50% stake in Edun Apparel 2009
Champagne Montaudon Moet Hennessy acquires Champagne Acquisition Dec 12, -
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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(France) Montaudon 2008
Ile de Beaute (Russian Oct 03, Sephora acquires 45% stake in Ile de Beaute Acquisition - Federation) 2008
Royal Van Lent Shipyard LVMH Moet Hennessy acquires Royal van Lent Sep 30, Acquisition - BV (Netherlands) from Egeria Capital 2008
Princess Yachts Groupe Arnault and LVMH to acquire Princess Jun 03, International plc (United Acquisition 394 Yachts 2008 Kingdom)
May 01, Hublot SA (Switzerland) LVMH acquires Hublot Acquisition - 2008
Bodega Numanthia Moet Hennessy acquires Bodegas Numanthia Feb 04, Acquisition - Termes, S.L. (Spain) Termes from Bodegas Eguren 2008
SOURCE:MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Top Deals 2008 - 2012YTD*
Table 10: LVMH Moet Hennessy Louis Vuitton SA: Top Deals 2008 - 2012YTD*
Target/Partner Deal Value Deal Headline Deal Date Deal Status Deal Type (Country) (US$m)
LVMH Moet Hennessy acquires Arnys (France) 14 Jun 2012 Completed Acquisition - Arnys
Moda Operandi, Inc. Moda Operandi raises $36 million Venture 08 Jun 2012 Completed 36 (United States) in Series C funding Financing
Tanneries Roux SAS LVMH Moet Hennessy acquires 03 May 2012 Completed Acquisition - (France) Les Tanneries Roux
LVMH Moet Qatar Holding acquires 1.03% Private Hennessy Louis 15 Mar 2012 Completed 913 stake in LVMH Equity Vuitton SA (France)
Citizen to acquire 100% stake in 05 Mar 2012 Announced Acquisition 71 Prothor Holding
LVMH acquires 10% stake in Private Ochirly (China) 09 Feb 2012 Completed - Ochirly Equity
LVMH Moet Hennessy Louis Vuitton acquires 100% stake in 10 Nov 2011 Completed Acquisition - ArteCad
LVMH Moet Hennessy Louis Vuitton receives approval from Bulgari S.p.A. (Italy) 05 Mar 2011 Announced Acquisition 6,006 Italian stock market regulator to acquire Bulgari
Sephora Polska Sp. z Empik Assets to sell 24% stake in 03 Jun 2009 Announced Acquisition 16 o.o. (Poland) Sephora Polska to Sephora
Princess Yachts Groupe Arnault and LVMH to International plc 03 Jun 2008 Announced Acquisition 394 acquire Princess Yachts (United Kingdom)
SOURCE:MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Advisors
LVMH Moet Hennessy Louis Vuitton SA: Top Legal Advisors
Table 11: LVMH Moet Hennessy Louis Vuitton SA: Legal Advisor Ranking by Value (US$m)
Company Name Deal Volume Deal Value (US$m)
Bonelli Erede Pappalardo 1 6,006
SOURCE:MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA: Top Financial Advisors
Table 12: LVMH Moet Hennessy Louis Vuitton SA: Financial Advisor Ranking by Value (US$m)
Company Name Deal Volume Deal Value (US$m)
Credit Agricole CIB (formerly Calyon 1 6,006 S.A.)
Credit Suisse Group AG 1 71
Ernst & Young AG 1 -
Michel Dyens & Co. 1 -
SOURCE:MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Mergers and Acquisitions
Figure 5: LVMH Moet Hennessy Louis Vuitton SA: Figure 6: LVMH Moet Hennessy Louis Vuitton SA: M&A Volume and Value Trend (2008 - YTD*2012) M&A Activity by Geography (2008 - YTD*2012)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 13: LVMH Moet Hennessy Louis Vuitton SA: Table 14: LVMH Moet Hennessy Louis Vuitton SA: M&A Volume and Value Trend (2008 - YTD*2012) M&A Activity by Geography (2008 - YTD*2012)
Deal Value Year Deal Volume Geography Deal Volume (US$m) Asia-Pacific 1 2008 6 394 Europe 16 2009 4 16 Middle East and Africa - 2010 3 - North America 1 2011 4 6,006 South and Central 2012 3 - 1 America SOURCE: MARKETLINE SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing
Figure 7: LVMH Moet Hennessy Louis Vuitton SA: Figure 8: LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing Volume and Value Trend (2008 - Corporate Venturing by Geography (2008 - YTD*2012) YTD*2012)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 15: LVMH Moet Hennessy Louis Vuitton SA: Table 16: LVMH Moet Hennessy Louis Vuitton SA: Corporate Venturing Volume and Value Trend (2008 - Corporate Venturing by Geography (2008 - YTD*2012) YTD*2012) Geography Deal Volume Deal Value Year Deal Volume (US$m) Asia-Pacific -
2008 - - Europe -
2009 - - Middle East and Africa -
2010 - - North America 1
2011 - - South and Central - America 2012 1 36 SOURCE: MARKETLINE SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Capital Raising
Figure 9: LVMH Moet Hennessy Louis Vuitton SA: Figure 10: LVMH Moet Hennessy Louis Vuitton SA: Capital Raising Volume and Value Trend (2008 - Capital Raising by Deal Type (2008 - YTD*2012) YTD*2012)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 17: LVMH Moet Hennessy Louis Vuitton SA: Table 18: LVMH Moet Hennessy Louis Vuitton SA: Capital Raising Volume and Value Trend (2008 - Capital Raising by Deal Type (2008 - YTD*2012) YTD*2012) Deal Type Deal Volume Deal Value Year Deal Volume (US$m) Public Offering 1
2008 1 - SOURCE: MARKETLINE
2009 - -
2010 - -
2011 - -
2012 - -
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Partnership
Figure 11: LVMH Moet Hennessy Louis Vuitton SA: Figure 12: LVMH Moet Hennessy Louis Vuitton SA: Partnership Volume and Value Trend (2008 - Partnership Trend by Deal Type (2008 - YTD*2012) YTD*2012)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 19: LVMH Moet Hennessy Louis Vuitton SA: Table 20: LVMH Moet Hennessy Louis Vuitton SA: Partnership Volume and Value Trend (2008 - Partnership Trend by Deal Type (2008 - YTD*2012) YTD*2012) Deal Type Deal Volume Deal Value Year Deal Volume (US$m) Commercialization 1
2008 - - SOURCE: MARKETLINE
2009 - -
2010 - -
2011 1 -
2012 - -
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Divestments
Figure 13: LVMH Moet Hennessy Louis Vuitton SA: Figure 14: LVMH Moet Hennessy Louis Vuitton SA: Divestments Volume and Value Trend (2008 - Divestments by Geography (2008 - YTD*2012) YTD*2012)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 21: LVMH Moet Hennessy Louis Vuitton SA: Table 22: LVMH Moet Hennessy Louis Vuitton SA: Divestments Volume and Value Trend (2008 - Divestments by Geography (2008 - YTD*2012) YTD*2012) Geography Deal Volume Deal Value Year Deal Volume (US$m) Asia-Pacific -
2008 1 - Europe 3
2009 - - Middle East and Africa -
2010 2 - North America -
2011 - - South and Central - America 2012 1 71 SOURCE: MARKETLINE SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership
Figure 15: LVMH Moet Hennessy Louis Vuitton SA: Figure 16: LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership Volume and Value Private Equity and Ownership Volume by Deal Type Trend (2008 - YTD*2012) (2008 - YTD*2012)
SOURCE: MARKETLINE SOURCE: MARKETLINE
Table 23: LVMH Moet Hennessy Louis Vuitton SA: Table 24: LVMH Moet Hennessy Louis Vuitton SA: Private Equity and Ownership Volume and Value Private Equity and Ownership Volume by Deal Type Trend (2008 - YTD*2012) (2008 - YTD*2012)
Deal Value Year Deal Volume Deal Type Deal Volume (US$m) Private Equity 1 2008 - - SOURCE: MARKETLINE 2009 - -
2010 - -
2011 - -
2012 1 913
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH MOET HENNESSY LOUIS VUITTON SA: RECENT DEVELOPMENTS
LVMH Moet Hennessy Louis Vuitton SA: News and Events Summary
Table 25: LVMH Moet Hennessy Louis Vuitton SA: News and Events Summary
Date Headline Category
LVMH annual profit increases
Financial Feb 9, 2012 LVMH Moet Hennessy Louis Vuitton, a luxury products group, has Performance reported that group share of net profit for the year 2011 was E3.06 billion, compared to E3.03 billion for the year 2010.
LVMH appoints CEO of Louis Vuitton Corporate
Governance-- Sep 16, 2011 LVMH has appointed Jordi Constans as CEO of Louis Vuitton, a >Management subsidiary of LVMH. Mr Constans will succeed Yves Carcelle at the end change of this process.
LVMH Q2 total revenue increases
LVMH Moet Hennessy Louis Vuitton SA, a France-based luxury goods Financial Jul 28, 2011 company, has reported total revenue of E5.04 billion for the second Performance quarter of 2011, compared to E4.63 billion for the second quarter of 2010.
LVMH appoints two creative directors of Kenzo Corporate
Jul 14, 2011 Governance-->Board LVMH Moet Hennessy Louis Vuitto, a luxury goods retailer, has changes appointed Humberto Leon and Carol Lim as creative directors of Kenzo.
LVMH Q1 total revenues increase 17%
LVMH Moet Hennessy Louis Vuitton SA, a France-based luxury goods Financial Apr 20, 2011 company, has reported total revenues of E5.25 billion, an increase of Performance 17%, for the first quarter of 2011, compared to E4.47 billion for the first quarter of 2010.
Tag Heuer introduces Carrera Heritage series Business Expansion--
Mar 25, 2011 >Products/ brands TAG Heuer, a Swiss luxury watch brand, has introduced its Carrera launch Heritage series, a collection of watches and chronographs.
LVMH appoints CEO of Givenchy Couture Corporate Governance-- Mar 17, 2011 LVMH Moet Hennessy Louis Vuitton, a luxury group, has appointed >Management Susan Whiteley as CEO of Givenchy Couture, effective April 2011. change
Mar 10, 2011 LVMH appoints global president and CEO of Sephora Corporate Governance--
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton SA, a France-based luxury group, >Management has appointed Christopher de Lapuente as global president and CEO of change Sephora, effective March 31, 2011.
Diageo and Moet Hennessy USA sign new agreements With Glazer's
Diageo and Moet Hennessy USA, an importer and marketer of luxury Business Expansion-- Dec 9, 2010 wines, spirits and champagnes, has announced that each has signed >Distribution new agreements with Glazer's Distributors that continue Glazer's role as the exclusive distributor of both companies' spirits, wine and champagne brands in Texas and Louisiana.
LVMH owns 14.2% stake in Hermes International
LVMH Moet Hennessy Louis Vuitton, a luxury products group, has Financial Deals-- Oct 25, 2010 announced that it holds 15.02 million shares of Hermes International, a >M&A designer, manufacturer and marketer of luxury products, representing 14.2% of the share capital of the company.
LVMH nine-month total sales increase
Financial Oct 15, 2010 LVMH Moet Hennessy Louis Vuitton has reported total sales of E14.21 Performance billion for the first nine months of 2010, compared to E11.95 billion for the first nine months of 2009.
LVMH makes management changes Corporate
Governance-- Oct 11, 2010 LVMH Moet Hennessy Louis Vuitton has announced the retirement of >Management Philippe de Beauvoir, chairman of Le Bon Marche Group, will retire on change October 12, 2010.
LVMH acquires Sack's to expand Sephora into Brazil
LVMH Moet Hennessy Louis Vuitton, the luxury products group, has Financial Deals-- Jul 6, 2010 reached an agreement to acquire a 70% controlling stake in Sack’s, the >M&A online retailer of fragrances, cosmetics and toiletries and the whole specialty beauty distribution sector in Brazil.
Moet Hennessy selects Kuehne + Nagel as logistics provider in Spain
Jun 18, 2010 Contracts-->Sourcing , the drinks division of the LVMH Moet Hennessy - Louis Vuitton Group, has selected Kuehne + Nagel as its exclusive logistics provider for it warehousing and distribution services in Spain.
Louis Vuitton opens new store in London Business Expansion-- May 31, 2010 Louis Vuitton, a French luxury goods retailer and a subsidiary of LVMH, >Geography has opened a new store in London.
Financial Apr 14, 2010 LVMH Q1 revenue rises Performance
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton, a France-based luxury products group, has reported a revenue of E4.5 billion for the first quarter of 2010, representing an organic growth of 13% compared to the same period in 2009.
LVMH annual profit decreases
LVMH Moet Hennessy Louis Vuitton, a France-based luxury products Feb 8, 2010 - group, has reported that profit from recurring operations for 2009 was E3.35 billion, compared to E3.63 billion for 2008, representing an 8% decrease.
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA: Business Expansion
Table 26: LVMH Moet Hennessy Louis Vuitton SA: Business Expansion
Publication Date Headline Category
Tag Heuer introduces Carrera Heritage series Products/ brands Mar 25, 2011 TAG Heuer, a Swiss luxury watch brand, has introduced its Carrera launch Heritage series, a collection of watches and chronographs.
Diageo and Moet Hennessy USA sign new agreements With Glazer's
Diageo and Moet Hennessy USA, an importer and marketer of luxury Dec 9, 2010 Distribution wines, spirits and champagnes, has announced that each has signed new agreements with Glazer's Distributors that continue Glazer's role as the exclusive distributor of both companies' spirits, wine and champagne brands in Texas and Louisiana.
Louis Vuitton opens new store in London
May 31, 2010 Geography Louis Vuitton, a French luxury goods retailer and a subsidiary of LVMH, has opened a new store in London.
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA: Contracts
Table 27: LVMH Moet Hennessy Louis Vuitton SA: Contracts
Publication Date Headline Category
Moet Hennessy selects Kuehne + Nagel as logistics provider in Jun 18, 2010 Spain Sourcing
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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, the drinks division of the LVMH Moet Hennessy - Louis Vuitton Group, has selected Kuehne + Nagel as its exclusive logistics provider for it warehousing and distribution services in Spain.
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA: Corporate Governance
Table 28: LVMH Moet Hennessy Louis Vuitton SA: Corporate Governance
Publication Date Headline Category
LVMH appoints CEO of Louis Vuitton
Sep 16, 2011 LVMH has appointed Jordi Constans as CEO of Louis Vuitton, a Management change subsidiary of LVMH. Mr Constans will succeed Yves Carcelle at the end of this process.
LVMH appoints two creative directors of Kenzo
Jul 14, 2011 Board changes LVMH Moet Hennessy Louis Vuitto, a luxury goods retailer, has appointed Humberto Leon and Carol Lim as creative directors of Kenzo.
LVMH appoints CEO of Givenchy Couture
Mar 17, 2011 Management change LVMH Moet Hennessy Louis Vuitton, a luxury group, has appointed Susan Whiteley as CEO of Givenchy Couture, effective April 2011.
LVMH appoints global president and CEO of Sephora
Mar 10, 2011 LVMH Moet Hennessy Louis Vuitton SA, a France-based luxury group, Management change has appointed Christopher de Lapuente as global president and CEO of Sephora, effective March 31, 2011.
LVMH makes management changes
Oct 11, 2010 LVMH Moet Hennessy Louis Vuitton has announced the retirement of Management change Philippe de Beauvoir, chairman of Le Bon Marche Group, will retire on October 12, 2010.
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA: Financial Deals
Table 29: LVMH Moet Hennessy Louis Vuitton SA: Financial Deals
Publication Date Headline Category
Oct 25, 2010 LVMH owns 14.2% stake in Hermes International M&A
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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LVMH Moet Hennessy Louis Vuitton, a luxury products group, has announced that it holds 15.02 million shares of Hermes International, a designer, manufacturer and marketer of luxury products, representing 14.2% of the share capital of the company.
LVMH acquires Sack's to expand Sephora into Brazil
LVMH Moet Hennessy Louis Vuitton, the luxury products group, has Jul 6, 2010 M&A reached an agreement to acquire a 70% controlling stake in Sack’s, the online retailer of fragrances, cosmetics and toiletries and the whole specialty beauty distribution sector in Brazil.
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA: Financial Performance
Table 30: LVMH Moet Hennessy Louis Vuitton SA: Financial Performance
Publication Date Headline Category
LVMH annual profit increases
Financial Feb 9, 2012 LVMH Moet Hennessy Louis Vuitton, a luxury products group, has Performance reported that group share of net profit for the year 2011 was E3.06 billion, compared to E3.03 billion for the year 2010.
LVMH Q2 total revenue increases
LVMH Moet Hennessy Louis Vuitton SA, a France-based luxury goods Financial Jul 28, 2011 company, has reported total revenue of E5.04 billion for the second Performance quarter of 2011, compared to E4.63 billion for the second quarter of 2010.
LVMH Q1 total revenues increase 17%
LVMH Moet Hennessy Louis Vuitton SA, a France-based luxury goods Financial Apr 20, 2011 company, has reported total revenues of E5.25 billion, an increase of Performance 17%, for the first quarter of 2011, compared to E4.47 billion for the first quarter of 2010.
LVMH nine-month total sales increase
Financial Oct 15, 2010 LVMH Moet Hennessy Louis Vuitton has reported total sales of E14.21 Performance billion for the first nine months of 2010, compared to E11.95 billion for the first nine months of 2009.
LVMH Q1 revenue rises Financial Apr 14, 2010 LVMH Moet Hennessy Louis Vuitton, a France-based luxury products Performance group, has reported a revenue of E4.5 billion for the first quarter of 2010, representing an organic growth of 13% compared to the same
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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period in 2009.
LVMH annual profit decreases
LVMH Moet Hennessy Louis Vuitton, a France-based luxury products Financial Feb 8, 2010 group, has reported that profit from recurring operations for 2009 was Performance E3.35 billion, compared to E3.63 billion for 2008, representing an 8% decrease.
SOURCE: MARKETLINE
LVMH Moet Hennessy Louis Vuitton SA - STRATEGY, SWOT AND CORPORATE FINANCE REPORT 3B3EF8CC-56B6-4FB7-9C3B-DE8C2D56069C / Published 12/2012
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