LVMH controls around 60 subsidiaries that manage 75 luxury brands. As a result of different visions for the future of the merged entity, Alain Chevalier and Henry Racamier , the respective leaders of the predecessor firms, started to fight. The successful integration of various famous aspirational brands into a single group inspired other luxury companies to do the same.
Thus, the French conglomerate Kering and the Swiss-based Richemont have also created extended portfolios of luxury brands. In April , LVMH announced it would gain ownership of Christian Dior haute couture, leather, men's and women's ready-to-wear, and footwear lines to integrate the entire Dior brand within its luxury group. The deal was expected to close by June An LVMH spokesperson stated the company would continue to pay salary and benefits to its 3, employees in Russia.
This acquisition highlights LVMH's focus on integrating unique craftsmanship and design within its luxury portfolio. The company is listed on the Euronext Paris exchange [ 57 ] and is a constituent of the CAC 40 index. The group's control amounted to A partial list, including some of LVMH's best-known brands and subsidiaries: [ 59 ] [ 78 ].
On 24 May , LVMH launched an e-commerce initiative by investing in online fashion search business Lyst, as a way for LVMH's luxury brands to expand their presence online and capture younger shoppers. LVMH is a major patron of art in France. Since , when the LVMH flagship store opened in Paris at 3, avenue George V , , the company presented close collaborations with contemporary artists. In , a gallery space was inaugurated on the second floor of the same building and named " Espace Culturel ".
The Fondation is designed as the Group's own museum to present its collections and organize major world-class art exhibitions. The group also lends Stradivarius violins to young talented musicians. Maxim Vengerov and Laurent Korcia have used the instruments. During the COVID crisis, the group shifted its production of perfume and spirits towards hand sanitizer. This production of 12 tons has been offered to hospitals in Paris, France.
