LVMH Moet Hennessy Louis Vuitton SE

Spirits on display in a UK bar in Cardiff, United Kingdom.Matthew Horwood | Getty Images News | Getty ImagesThe spirits industry held its market share edge over beer and wine for the second straight year in 2023, even as it showed little growth, according to new data released Wednesday.U.S. spirits revenue grew only a modest 0.2% last year to $37.7 billion, according to the Distilled Spirits Council of the U.S. annual economic report. Although the industry gained little total revenue, it outpaced beer and wine sales by…

Luxury giant LVMH is making a push to gain share of the global luxury watch business, with a newly formed watch division and an array of new, higher-priced models.Sales of luxury watches worldwide are estimated at about $30 billion this year, according to market research firm IMARC Group. They're expected to grow to more than $37 billion by 2032, as global wealth increases and Generation Z and millennials become more interested in high-end mechanical watches.LVMH's jewelry and watch division posted sales of $11.8 billion…

Target hosted a free "Winter Wonderland" event in New York City to show off the holiday season's hottest toys. It's an example of the extra effort that retailers are putting in to motivate shoppers.Melissa Repko | CNBCNEW YORK CITY — On a recent weekend in downtown Manhattan, a long line of families with strollers and small children lined up to step inside of Target's "Wonderland"Santa's helpers handed out free cookies. Mario and Luigi from Nintendo's "Super Mario" video game posed for photos. A toy train winded through a…

Tag Heuer is riding a wave of marketing successes and new launches to grow its market share in the luxury watch world, according to its CEO.The company, which is owned by LVMH, opened a flagship boutique on Manhattan's Fifth Avenue on Wednesday as part of a rapid expansion in the U.S. It plans to more than double its boutiques in the U.S. to 50 by 2026, according to Tag Heuer CEO Frédéric Arnault.Along with increasing sales, the boutiques give the brand more direct relationships with its customers rather than relying on…

Elon Musk, CEO of SpaceX and Tesla, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre in Paris, June 16, 2023.Chesnot | Getty ImagesTesla CEO Elon Musk thinks the automaker's market capitalization is directly tied to whether the automaker is able to solve autonomous driving, the billionaire told LVMH scion Antoine Arnault on Friday.Musk was speaking at Paris' VivaTech innovation conference. The younger Arnault ribbed Musk about Tesla's $827 billion…

Big American companies in China were counting on a postpandemic boom to boost global revenue. For many, it isn’t happening.  Big American companies in China were counting on a postpandemic boom to boost global revenue. For many, it isn’t happening.  FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all…

The majority of votes counted in this week’s referendum were against plans by LVMH’s Cheval Blanc brand to build its first hotel in the U.S. The majority of votes counted in this week’s referendum were against plans by LVMH’s Cheval Blanc brand to build its first hotel in the U.S. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks…

GENEVA—Among the many luxury labels that form LVMH Moët Hennessy Louis Vuitton lies an upper-echelon of brands that generate more than $1 billion in annual revenue, driving the conglomerate’s business.Frédéric Arnault—chief executive officer of TAG Heuer and the third son of LVMH’s top boss, Bernard Arnault—said the Swiss watchmaker is about to join those ranks. What's NewsSee MoreWhat's News GENEVA—Among the many luxury labels that form LVMH Moët Hennessy Louis Vuittonlies an upper-echelon of brands that generate…

As a young tycoon living in New York in the 1980s, Bernard Arnault quickly realized some of the most valuable real estate was located on the corner of Fifth Avenue and 57th Street. When he bought the building that houses the Louis Vuitton flagship store on the northeast corner, he got a close-up view of Tiffany & Co. across the street to the south. “We said, maybe at one point we’ll have more than one corner,” Mr. Arnault said in a rare interview from the glass-enclosed top floor of Tiffany’s newly…

PARIS—Once a month, Bernard Arnault gathers his children for lunch inside a private dining room at the headquarters of LVMH Moët Hennessy Louis Vuitton SE, his globe-spanning luxury goods company. The meal, which lasts exactly 90 minutes, begins with the French billionaire reading aloud discussion topics he has prepared on his iPad, according to people close to him. Mr. Arnault then goes around the table, asking each of his five adult children for advice. He’ll seek an opinion on specific managers at…