Man, Machine Andthe Factories Ofthe Future

Total Page:16

File Type:pdf, Size:1020Kb

Man, Machine Andthe Factories Ofthe Future #8 –November 2018 -Special Edition for Founders Forum xIndustry In Partnership With Henkel Conference TRANSFORMING A DIGITIZING GROWING UP DIGITAL GERMAN GIANT LOGISTICS WHAT INDUSTRIAL Q&AWITH HENKEL’S A$4TRILLION COMPANIES CAN LEARN CHIEF DIGITAL OFFICER OPPORTUNITY FROM STARTUPS MAN, MACHINE AND THE FACTORIES OF THE FUTURE SUPPLÉMENT GRATUIT AU #22816 DU QUOTIDIEN «LESÉCHOS» DU 5NOVEMBRE 2018 NE PEUT ÊTRE VENDU SÉPAREMENT Go make it. We’ll protect it. We all have amission. Core to ourmissionis protecting yours. It’s whywefocus on security from thebeginning. Becauseofthat, we’re able to help protectevery customer we serve. Whether you’re pioneeringadvancements in healthcare or buildingthe futureofeducation,GoogleCloud helpstokeepyourorganizationsafe. Seehow we do it at g.co/cloudsecureUK TABLE LETTER FROM THE EDITOR OF CONTENTS P.04 THE BRIEF It was welcome news to learn that five out of nine P.06 THE FACTORIES OF THE FUTURE of the most advanced factories in the world namedbythe World P.10 FLEXIBLE MANUFACTURING Economic Forum and McKinsey are European. The factories P.12 Q&AWITH HENKEL’S CHIEF DIGITAL were chosen outofaninitiallist of 1,000. And, as illustrated in OFFICER the stories in this magazine, there are other signs that Europe P.14 THE SEARCH FOR NEW MATERIALS is holdingits own in the Fourth Industrial Revolution. France’s INNOVATIONS Sigfox is aglobal powerhouse in Internet of Things connecti- P.16 LAUNDRY &HOME MEET INDUSTRY 4.0 vity.Germany’s arago, backed with an investment of $55 mil- P.18 CYBERSECURITY AND THE INTERNET OF lion from the private equity fund KKR, is offering corporates THINGS what it claims is aneutralalternativetoAIsolutionsoffered by P.20 FAST FASHION TAKES ON AWHOLE NEW MEANING big American and Chinese platform companies. And big European companies and entrepreneurs are collabora- P.23 FACTORY-IN-A-BOX ting through Henkel X, an open innovationplatform created by P.24 TOP 25 IIOT STARTUPS TO WATCH Henkel, a142-year-old maker of chemicals and consumer goods. P.26 AWAZE FOR FACTORIES As members of the Henkel Xnetwork gather with Sigfox, ara- P.28 HOW 3D PRINTING IS IMPACTING go and otherstartups in Düsseldorf November8and 9, they will MANUFACTURING be reminded that there is no place forcomplacency in thisfast- P.31 SPOTLIGHT ON AN ADVANCED paced digital world. As Brent Hoberman, executive chairman PHARMACEUTICALS PLANT and co-founder of Founders Forum and RobChapman, CEO of P.32 MAN AND MACHINE Founders Intelligence write in their guest essay:“Startups have P.35 AN APP STORE FOR THE FACTORY FLOOR learned discipline from industrial companies. It is time for in- P.36 IIOT: EVERYTHING IS CONNECTED dustrial companies to learn creative chaos from startups.” P.38 IGNORING THE HERD P.40 HOW BLOCKCHAIN IS CHANGING SUPPLY CHAIN MANAGEMENT P.42 GOING DIGITAL P.44 ASTRATEGIC PERSPECTIVE ON AI P.46 A$4TRILLION OPPORTUNITY P.49 WHAT CAN INDUSTRIALS LEARN FROM STARTUPS By Jennifer L. Schenker Editor-in-Chief, The Innovator —P.3 THE BRIEF THE CHANGING NATURE OF COMPETITIVENESS The changing nature of economic competitiveness in aworld HR’S USE OF AI IS INNOVATION that is becomingincreasingly INDEX GROWING AND SO ARE transformed by new,digital technologies is creating afreshset 1 —Germany 87.5 CONCERNS of challenges for governments and 2 —United states 86.5 businesses. That is the key finding 3 —Switzerland 82.5 of the WorldEconomicForum’s 4 —China &Taiwan 80.8 2018 Global Competitiveness Report. 5 —Sweden 79.8 Some 78% of human to give you 100 resumes, it will spit According to thereport, which uses 6 —Japan 79.3 resourcesdepartments expecttouse out the top five, and we’ll hire those.” abrandnew methodology to fully 7 —United Kingdom 79.2 machine learning in at least one But the company realized its new 8 —South Korea 78.2 capturethe dynamics of the global HR process withintwo years, system was not rating candidates 9 —Netherlands 77.5 economy in theFourth Industrial according to anew survey conducted for software developer jobsand 10 —Finland 76.3 Revolution,manyofthe factorsthat by Bain&Company, which polled other technical posts in agender- 11 —France 76.1 willhave thegreatest impact in human resource executives and neutral way. 12 —Denmark 75.4 drivingcompetitivenessinthe future 13 —Canada 75.0 managers at 500 large companies That is because Amazon’s computer have never been the focus of major 14 —Singapore 75.0 in the U.S., Germany,and the United models were trained to vet applicants policy decisions in thepast. 15 —Austria 74.3 Kingdom,including publicly traded by observing patterns in resumes Theseinclude ideageneration, and privately owned companies submittedtothe company over a entrepreneurial culture,openness Source: World Economic Forum acrossabroad range of industries 10-year period.Most came from and agility. from manufacturing to retail to men, areflection of male dominance The tool maps the competitiveness healthcare. Somecompanies surveyed across the tech industry. landscape of 140 economies through are already seeing successfrom TheSeattle company ultimately 98 indicators. Foreach indicator, fromideagenerationtoproduct using the technology. disbanded the team by the startof using ascalefrom 0to100, it commercialization. Some 103 Unilever,for example, is using AI lastyearbecauseexecutives lost indicates howclose an economy is countries scored lower than 50 in to help withscreening job candidates hope for the project, according to to the ideal stateor“frontier”of this area of the index,whichis and thetechnologyhas cut the the Reuters report. competitiveness. When combining toppedbyGermany,followed by average timeittakes to hirenew Amazon’s experimentoffers acase thesefactors, the UnitedStates the United States and Switzerland. people by 75%, according to Bain. studyinthe limitations of machine achieves the best overall performance The report notably finds that the But news of the Bain survey comes learning. It also serves as acautionary with ascore of 85.6, ahead of attitude toward entrepreneurial risk as news reports revealed that Amazon taletothe growing list of large Singapore and Germany.The average is the mostpositive in Israel and hadtoscrap an AI system that it companies includingHilton score for the world is 60, 40 points tends to be negative in several East was using forrecruiting purposes Worldwide Holdingsand Goldman away from thefrontier. Asian economies. Canada has the becauseitfound it wasbiased against Sachs Groupthat arelooking to One of the report’smost concerning most diverse workforce and women candidates .“Everyone wanted automate portions of the hiring findings is therelative weakness Denmark’s corporateculture is the this holy grail,” an Amazon executive process. acrossthe board when it comes to least hierarchical,both critical factors told Reuters. “They literally wanted mastering the innovationprocess, for drivinginnovation. it to be an engine where I’m going P.4—THE INNOVATOR THE BRIEF of Change Global Technology Group is an exclusive, action-based global network of male leaders in technology aiming to accelerate their diversity learning and programs. The leadersare committed to standing up alongside women to share responsibility andreinforce accountability for addressing gender inequalitywithin their organizations and the industry at large. Seventeen globalleadershave committed to being Male Champions of Change, including: — Steve Demetriou, Chairmanand CEO, Jacobs — Mark Read, CEO,WPP — Tony Hall, Director General, BBC — Bob van Dijk,CEO,Naspers — Wendell Brooks, President,Intel Capital ACCELERATING — Gavin Patterson, CEO,BTGroup CHANGE — Jonathan Newhouse, Chairman/CEO,Condé Nast International — Ambarish Mitra, Co-Founder and CEO,Blippar — Nagaj Kashyap, Corporate Vice President and Global Head, M12 — Rahmyn Kress, Chief DigitalOfficer,Henkel and Founder, Agroup of prominent male business leaders arestepping up Henkel X to become Male Champions of Change for anew group calledAccelerateHER, — Brent Hoberman CBE, Co-Founder,Founders Factory/first minute which was formed to address the under-representation of womenin capital/Founders Forum the technology industry. — David Jones, Founder/CEO,You &MrJones andOne Young World AccelerateHER, apart of the FoundersForum group, aprivate global Founder communityofsuccessful technologyfounders and investors, is working — Damian Bradfield, President, WeTransfer with anetworkoftechnology leaderstoaccelerate change throughbest — Philippe Chainieux, CEO,Made.com practices andpromote the value of gender parity.Its work focuses on — David Eun, President, Samsung NEXT and Chief Innovation Officer, threecore areas: events, strategy and innovation, and Male Champions Samsung Electronics of Change. — Frédéric Mazzella, Co-Founder and President, BlaBlaCar Its global AccelerateHER events shine alight on accomplished female — Nicolas Brusson, Co-Founder andCEO,BlaBlaCar founders, (suchasex-Google and Yahoo executive Marissa Mayer,pictured here) providingthe crucialvisibility thegroups says femalefounders Each Champion is conducting leadership assessments and focus groups need to raise capital, access new networks or partner with collaborative within their organizationsleading up to the inauguralGlobal Tech companies.The group says it is evaluating and mappingbest practices Group meeting in January 2019 in Davos, Switzerland. The Global Tech across technology companies, providing partners with guidance and Group will meet again in London next June around AccelerateHER’s advice on the latest innovative diversity technology.The Male Champions
Recommended publications
  • De La Maroquinerie De Luxe Le Marché Mondial
    JUIN 2018 Le marché mondial de la maroquinerie de luxe Quels leviers actionner pour bénéficier à plein de la reprise du marché ? Une étude pour Disposer de tous Benchmarker Comprendre Analyser l'évolution les chiffres clés les positions les ressorts des business models et du marché (valorisation concurrentielles de la reprise et identifier les stratégies exclusive Les Echos et les performances les enjeux qui gagnantes face à la Etudes) des acteurs en découlent transformation du tout au long de marché la chaîne de valeur WWW.LESECHOS-ETUDES.FR L’étude de référence sur le marché de la maroquinerie de luxe Édition 2018 LA MAROQUINERIE A RENOUÉ AVEC UNE CROISSANCE CHIFFRE CLÉ VIGOUREUSE MAIS LA DONNE A CHANGÉ Le marché mondial de la Le marché de la maroquinerie de luxe a affiché une croissance soutenue en 2017, maroquinerie de luxe a portée notamment par la reprise des marchés asiatique et européen. affiché une croissance de Cette bonne performance ne signifie pas pour autant un retour à la normale après une séquence 2012-2016 difficile. La donne a changé comme l’illustre la grande près de 10 % en 2017, disparité des performances parmi les acteurs. Le marché s’est complexifié à la faveur de l’évolution de la clientèle et des comportements d’achat. hors effets de change. Source : Les Echos Etudes UN RETOUR AUX FONDAMENTAUX POUR PROFITER À PLEIN DE LA REPRISE LES DE L’ÉTUDE Au cours de la dernière période, les maisons ont été contraintes de repenser les modèles qu’il s’agit désormais de consolider pour poser les bases de la croissance future.
    [Show full text]
  • Press Release 2021 LVMH Prize for Young Fashion Designers: 8Th Edition Call for Applications
    Press release 2021 LVMH Prize For Young Fashion Designers: 8th edition Call for applications Paris, 11th January 2021 The applications for the 8th edition of the LVMH Prize will open starting Monday 11th January 2021. They must be submitted exclusively on the Prize website: www.lvmhprize.com. Applications will close on Sunday 28th February 2021. It should be noted that, as a result of the health crisis that has imposed certain restrictions, the semi-final will this year, as an exception, take the form of a digital forum, to be held from Tuesday 6th April until Sunday 11th April 2021. This forum will enable each of our international Experts to discover and select on line the competing designers. Driven by a “passion for creativity”, LVMH launched the Prize in 2013. This patronage embodies the commitment of the Group and its Houses in favour of young designers. It is open to designers under 40 who have produced at least two collections of womenswear or menswear, or two genderless collections. Moreover, the Prize is international. It is open to designers from all over the world. The winner of the LVMH Prize for Young Fashion Designers enjoys a tailored mentorship and receives a 300,000-euro endowment. The LVMH teams mentor the winners in many fields, such as sustainable development, communication, copyright and corporate legal aspects, as well as marketing and the financial management of a brand. The winner of the Karl Lagerfeld / Special Jury Prize receives a 150,000-euro allocation and also enjoys a one-year mentorship. Furthermore, on the occasion of each edition, the Prize distinguishes three young fashion school graduates.
    [Show full text]
  • Armand W. Grumberg
    Armand W. Grumberg Partner, Paris Mergers and Acquisitions Armand W. Grumberg is the head of Skadden’s European Mergers and Acquisitions practice and the leader of the firm’s Paris office. He has extensive experience in strategic and complex cross-border transactions, including public and private acquisitions, contested and hostile bids, joint ventures, corporate reorganizations, and capital markets transactions. Mr. Grum- berg also has significant experience in shareholder activist-related matters. Prior to joining Skadden in 2003, he practiced law in the New York, London and Paris offices of another leading international law firm. Mr. Grumberg repeatedly has been recognized as a leading individual in Who’s Who Legal, Chambers Global, Chambers Europe, The Legal 500 EMEA and Best Lawyers as a leading individual in corporate/M&A in France. In 2021, Armand was ranked by Forbes and La Lettre des Juristes d’Affairesas a Top Lawyer of the CAC 40. He also was named Contested T: 33.1.55.27.11.95 and Hostile Bids Expert of the Year in France – 2021 and Public and Private Acquisitions F: 33.1.55.27.21.95 Expert of the Year in France – 2021 by CorporateINTL; Deal Maker of the Year by Finance [email protected] Monthly Magazine’s 2020 and 2019 Awards; Mergers & Acquisitions Lawyer of the Year – France by Global 100 in 2020 and 2019; Leader of the Year in M&A - France by Corporate America Today’s Annual Awards 2020; M&A Lawyer of the Year – France by Corporate Education Insider’s 2019 Business Excellence awards; M&A Lawyer of the Year by Lawyer Interna- Docteur en Droit, University of Paris XII-Law School, 2001 tional Limited’s Global Awards 2019; and Lawyer of the Year (Complex M&A) by ACQ5’s Global Awards 2019.
    [Show full text]
  • 2018 Annual Financial Report 1 01 VA V2 24/06/2019 15:19 Page2
    01_VA_V2 24/06/2019 15:19 PageI Translation of the French “Rapport financier annuel” Fiscal year ended December 31, 2018 01_VA_V2 24/06/2019 15:19 PageII 01_VA_V2 24/06/2019 15:19 Page1 Contents Management Report of the Board of Directors – Financière Agache group 3 1. The Financière Agache business model 3 2. Business overview, highlights and outlook 7 3. Business and financial review 27 4. Ethics and responsibility 43 5. Environment and sustainability 69 6. Attracting and retaining talent 85 7. Corporate philanthropy 101 8. Financial and operational risk management and internal control 107 Management Report of the Board of Directors – Financière Agache SA 121 1. Results of Financière Agache SA 122 2. Information regarding the Company’s share capital 123 3. Membership of the Board of Directors 123 Board of Directors’ report on corporate governance 125 1. List of all corporate offices and positions held by company officers 126 2. Summary of existing delegations and financial authorizations and use made of them 128 3. Authorizations proposed at the Shareholders’ Meeting 129 4. Information on the related- party agreements covered by Article L. 225- 37- 4 2° of the French Commercial Code 129 Consolidated financial statements 131 1. Consolidated income statement 132 2. Consolidated statement of comprehensive gains and losses 133 3. Consolidated balance sheet 134 4. Consolidated statement of changes in equity 135 5. Consolidated cash flow statement 136 6. Notes to the consolidated financial statements 138 7. Statutory Auditors’ report on the consolidated financial statements 202 Parent company financial statements: Financière Agache 207 1. Balance sheet 208 2.
    [Show full text]
  • Communiqué De Presse – Paris, Le 17 Juillet 2019
    Le Groupe Les Echos – Le Parisien et le Groupe CANAL+ s’associent pour l’acquisition de Mezzo Communiqué de presse – Paris, le 17 juillet 2019 Les groupes Les Echos – Le Parisien et CANAL+ annoncent l’acquisition à 50/50 de Mezzo auprès du groupe Lagardère et de France Télévisions. Créée en 1998, la société Mezzo SA édite et diffuse deux chaînes de télévision payantes dédiées à la musique classique, au jazz et à la danse : Mezzo (concerts, opéras, ballets, masterclass, documentaires…) et Mezzo Live HD (concerts et opéras diffusés en haute définition). Présente dans 80 pays, Mezzo est reçue par 60 millions de foyers à travers le monde, à la carte ou intégrée dans des bouquets pay TV. A la tête d’un portefeuille de droits sur 700 programmes, en majorité co-produits, la société Mezzo a réalisé un chiffre d’affaires de plus de 10M€ en 2018. S’appuyant sur des savoir-faire complémentaires, les deux groupes actionnaires ont défini une répartition des rôles pour la gestion des chaînes avec en particulier : Groupe Les Echos – Le Parisien : • Responsabilité des équipes Mezzo • Programmation : conception des grilles, achats de programmes, productions ou co- production de programmes • Marketing et communication Groupe CANAL+ : • Commercialisation auprès des opérateurs à l’international via sa filiale de distribution Thema • Diffusion des chaînes et prestations techniques pour l’ensemble des modes de transmission Pour Pierre LOUETTE, Président Directeur Général du Groupe Les Echos – Le Parisien, « Cette acquisition confirme notre volonté de développer une offre diversifiée de médias thématiques, en particulier dans l’univers de la culture. Mezzo est l’opportunité de consolider un pôle média leader dans la musique classique aux côtés de Radio Classique, propriété du groupe et première radio en France sur ce segment ».
    [Show full text]
  • Wvb Dossier Report Lvmh Moet Hennessy - Louis Vuitton Se
    WVB DOSSIER REPORT LVMH MOET HENNESSY - LOUIS VUITTON SE LVMH MOET HENNESSY - LOUIS VUITTON SE Generated On 22 Dec 2020 COMPANY PROFILE BUSINESS SALES BREAKDOWN WVB Number FRA000090103 Date 31-DEC-18 31-DEC-19 ISIN Number ARDEUT111929, FR0000121014, US5024412075 Currency EUR ('000) EUR ('000) Status ACTIVE [ PUBLIC ] FASHION AND LEATHER GOODS 18,455,000 22,237,000 SELECTIVE DISTRIBUTION 13,646,000 14,791,000 Country of Incorporation FRENCH REPUBLIC (FRANCE) PERFUMS AND COSMETICS 6,092,000 6,835,000 Industry Classification WINE,BRANDY & BRANDY SPIRITS (2084) WINE & SPIRITS 5,143,000 5,576,000 Address 22 AVENUE MONTAIGNE, PARIS, PARIS WATCHES & JEWELRY 4,123,000 4,405,000 Tel +33 144132222 OTHER AND HOLDINGS 714,000 1,214,000 Fax +33 144132223 ELIMINATIONS -1,347,000 -1,388,000 Website www.lvmh.fr Principal Activities The Company is a France-based luxury goods company. It owns a portfolio of luxury brands and GEOGRAPHIC SALES BREAKDOWN its business activities are divided into five segments: Wines and Spirits, Fashion and Leather Date 31-DEC-18 31-DEC-19 Goods, Perfumes and Cosmetics, Watches and Jewelry and Selective Retailing. Currency EUR ('000) EUR ('000) ASIE (HORS JAPON) 13,723,000 16,189,000 DIRECTORS/EXECUTIVES ÉTATS-UNIS 11,207,000 12,613,000 EUROPE (HORS FRANCE) 8,731,000 10,203,000 Chairman YVES-THIBAULT DE SILGUY AUTRES PAYS 5,323,000 6,062,000 Chairman BERNARD ARNAULT FRANCE 4,491,000 4,725,000 Chief Executive Officer BERNARD ARNAULT JAPON 3,351,000 3,878,000 Chief Financial Officer JEAN-JACQUES GUIONY Secretary MARC ANTOINE
    [Show full text]
  • Press Release
    Press release Tiffany & Co. Stockholders approve Acquisition by LVMH Paris, February 4, 2020 LVMH Moët Hennessy Louis Vuitton SE (“LVMH”), the world’s leading luxury products group, announced that stockholders of Tiffany & Co. (NYSE: TIF) (“Tiffany”) have voted overwhelmingly to approve the previously announced merger agreement relating to the proposed acquisition of Tiffany by LVMH at a special meeting of Tiffany stockholders that was held today. According to the agreement announced on November 25, 2019, LVMH will acquire Tiffany, the global luxury jeweler, for $135 per share in cash, in a transaction with an equity value of approximately €14.7 billion or $16.2 billion. Bernard Arnault, Chairman and Chief Executive Officer of LVMH, commented: “This approval is a significant milestone as we move closer to completing our acquisition of Tiffany, an iconic company with a rich heritage and unique positioning in the global luxury jewelry market. A globally recognized symbol of love, Tiffany will be an outstanding addition to our unique portfolio of luxury brands. We look forward to welcoming Tiffany into the LVMH family and helping the brand reach new heights as an LVMH Maison.” The transaction is still expected to close in the middle of 2020, subject to the receipt of regulatory approvals and satisfaction or waiver of other customary closing conditions. LVMH LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia and Ao Yun.
    [Show full text]
  • Notice to Holders of Lvmh Moët Hennessy Louis Vuitton
    NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, IN AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA NOTICE TO HOLDERS OF LVMH MOËT HENNESSY LOUIS VUITTON U.S.$750,000,000 senior unsecured cash-settled convertible bonds due 16 February 2021 ISIN: FR0013113073 (the “Bonds”) Date of opening of the exercise period: 16 October 2020 Paris, October 14th, 2020 Notice is hereby given pursuant to Condition 7.1 (Exercise periods) and Condition 12 (Notices) of the terms and conditions of the Bonds (the “Terms and Conditions”), that the period of exercise of the Exercise Right will open on 16 October 2020. As per the provisions of Condition 7.1 (Exercise periods) of the Terms and Conditions, the period of exercise will remain open until the 40th Schedule Trading Day (exclusive) preceding the Maturity Date, i.e. until (and including) 17 December 2020. Bondholders shall refer to the Terms and Conditions, in particular Conditions 7.2 and 7.3, for any information on the terms of the Exercise Right and conditions for exercise of the Exercise Right. Capitalised terms not otherwise defined herein shall have the meanings given to them in the Terms and Conditions. * * * * * NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, IN AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA LVMH LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia, Ao Yun, Château d'Esclans and Château du Galoupet.
    [Show full text]
  • Equity Valuation LVMH Moët Hennessy - Louis Vuitton SE
    Equity Valuation LVMH Moët Hennessy - Louis Vuitton SE Miguel Oliveira Dissertation written under the supervision of Professor José Carlos Tudela Martins Dissertation submitted in partial fulfilment of requirements for the MSc in Finance, at the Universidade Católica Portuguesa, 20th April 2020. EQUITY RESEARCH 6 March 2020 Lisbon, Portugal Personal Luxury Goods LVMH Moët Hennessy Louis Vuitton EXECUTIVE SUMMARY (LVMH.PA) Recommendation: HOLD Profile: LVMH is a French conglomerate specialized in the Price (06/03/20): €360,35 manufacturing and marketing of personal luxury goods. It is the 12m Price Target: €400,00 world’s leading luxury goods vendor, operating in 5 distinct segments: Upside: 11,00% Fashion & Leather Goods, Selective Retailing, Perfumes & Cosmetics, Key Data Wines & Spirits, and Watches & Jewelry. The group gathers more than Market Cap: €181.987mn 70 well-known brands, including: Louis Vuitton, Christian Dior, Dom 52-week high (17/01/20): €439,05 52-week low (08/03/19): €305,80 Pérignon, Hennessy, Moët & Chandon, Bvlgari and Sephora. # Shares Outstanding: 505mn HOLD Recommendation: This study sets a 12-month price target of Headquarters: Paris, France €400,00 per stock, reflecting a potential upside of 11% in comparison Industry: Personal Luxury Goods to the current price, which considering the current economic Forecast Summary uncertainty, results in a hold recommendation. The price target was estimated through a sum-of-the-parts WACC-based DCF valuation supported by a thorough analysis of available industry and macroeconomic information, and the company’s past performance. Growth Drivers: The group’s biggest brands, i.e., Louis Vuitton, Dior, Hennessy and Moët & Chandon, as well as, the continued growth Stock Price Performance of China’s middle class are expected to be the group’s main drivers of future growth.
    [Show full text]
  • Press Release
    Press Release Paris, June 4, 2020 The Board of Directors of LVMH Moët Hennessy Louis Vuitton, met on Tuesday, June 2nd, 2020 and notably focused its attention on the development of the pandemic and its potential impact on the results and perspectives of Tiffany & Co with respect to the agreement that links the two groups. Considering the recent market rumors, LVMH confirms, on this occasion, that it is not considering buying Tiffany shares on the market. LVMH LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia and Ao Yun. Its Fashion and Leather Goods division includes Louis Vuitton, Christian Dior Couture, Celine, Loewe, Kenzo, Givenchy, Pink Shirtmaker, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Nicholas Kirkwood, Loro Piana, RIMOWA, Patou and Fenty. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Fenty Beauty by Rihanna and Maison Francis Kurkdjian. LVMH's Watches and Jewelry division comprises Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred and Hublot. LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marché, La Samaritaine, Groupe Les Echos, Cova, Le Jardin d’Acclimatation, Royal Van Lent, Belmond and Cheval Blanc hotels.
    [Show full text]
  • LVMH Reaches Agreement with Tiffany & Co. Paris and New York, November 25, 2019 – LVMH Moët Hennessy Louis Vuitton SE
    LVMH Reaches Agreement with Tiffany & Co. Paris and New York, November 25, 2019 – LVMH Moët Hennessy Louis Vuitton SE (“LVMH”), the world’s leading luxury group and Tiffany & Co. (NYSE: TIF) (“Tiffany”), the global luxury jeweler, today announced that the companies have entered into a definitive agreement whereby LVMH will acquire Tiffany for $135 per share in cash, in a transaction with an equity value of approximately €14.7 billion or $16.2 billion. For more than 180 years, Tiffany has been synonymous with elegance, innovative design, fine craftsmanship and creative excellence. Since 1886, when it established the eponymous diamond ring as an enduring symbol of commitment, Tiffany has stood for love. Its extraordinary diamonds are cherished for generations and its legendary jewelry designs are the ultimate reference in the global jewelry world. Even the Tiffany Blue Box is recognized worldwide as an icon of refinement and desirability. Founded in 1837 when Charles Lewis Tiffany opened the first store in downtown Manhattan, Tiffany today is the leading luxury brand originated in the United States and delights discerning customers in more than 300 stores around the globe. Nature is not only the source of inspiration for Tiffany’s designers, but precious metals and natural gemstones are necessary components for the creation of its designs. Tiffany stood apart in the industry as an early proponent of sourcing these materials with a socially and environmentally responsible rigor. Protecting the environment and respecting human rights continue to be core business principles. The acquisition of Tiffany will strengthen LVMH’s position in jewelry and further increase its presence in the United States.
    [Show full text]
  • Press Release
    PRESS RELEASE LVMH increases up to 10% the shareholding held in Tod’s. Through this transaction, the twenty-year friendship between the Arnault and Della Valle families is reinforced. Milan – Paris, April 22nd, 2021 On the date hereof, Diego Della Valle & C S.r.l. (a company controlled by Mr Diego Della Valle) entered into a sale and purchase agreement with Delphine S.A.S. (a fully-owned subsidiary of LVMH) for the sale of no. 2,250,000 shares of Tod’s S.p.A., representing 6.8% of Tod’s share capital. LVMH already owns 3.2%. The price per share is 33.10 Euros, equal to the volume weighted average price of Tod’s shares of the fifteen trading days preceding the signing. The transaction will be executed on 28 April 2021. Upon completion, Mr. Diego Della Valle will own, directly and indirectly, 63.64% of Tod’s outstanding shares and LVMH will own 10.00%. Bernard Arnault said: “The friendship with Diego Della Valle and his family goes back over 20 years, a relationship cemented by common human and professional values. We are very happy to reinforce further this partnership.” Diego Della Valle said: “I am delighted by this transaction which consolidates the friendship between myself, my family, Bernard and his family, that lasts longer than 20 years now. We share the values of luxury, quality and products appeal. This may represent an excellent reason to consider further opportunities to be taken in the future ahead.” 1 / 2 LVMH LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia, Ao Yun, Château d'Esclans and Château du Galoupet.
    [Show full text]