Thanks to the ongoing record hunt for LVMH shares, the luxury goods group is the first European company on the stock exchange to be worth more than 500 billion US dollars (equivalent to 455 billion euros). A modest price increase on Monday was enough for this.
Before the weekend, the share had passed the EUR 900 mark for the first time in the company’s history. With an increase of almost a third in the year to date, it occupies fourth place in the EuroStoxx 50.
The price development of the competition is also impressive: Competitor Hermes ranks one place ahead of LVMH, with an annual increase of almost 40 percent and a market value of more than 230 billion dollars. At Kering, investors can look forward to an increase of 23 percent and a market value of almost $80 billion. The leading eurozone index has increased by around 16 percent so far in 2023.
Just over a week and a half ago, LVMH reported surprisingly good figures for the first quarter thanks to strong business in leather and fashion – and then Hermes also enjoyed a surprisingly strong increase in sales. The industry is benefiting in particular from the reopening of the Chinese market after Beijing surprisingly ended its strict zero-Covid policy in December.
The technology giants from the USA continue to play in a different league than LVMH & Co. The iPhone manufacturer Apple is worth 2.6 trillion dollars on the stock market, followed by the software group Microsoft with 2.1 trillion and Google’s mother Alphabet, which weighs 1.3 trillion. Fourth in the trillion dollar club is the online retailer Amazon with 1.1 trillion. (dpa)