Andrea Felsted, Columnist

Is It Time to Break Up Luxury Behemoth LVMH?

High-end companies don’t do “buy one, get one free" deals. But that’s in effect what LVMH investors are getting.

January 22, 2024 at 5:00 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Time to break away?
Photographer: Kristy Sparow/Getty Images Europe

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When Bernard Arnault presents LVMH’s annual earnings on Thursday, investors and analysts will be hanging on to his every word as they try to decipher the direction of top-end demand.

Yet LVMH is being penalized by shareholders for its disparate collection of businesses. Breaking up the behemoth could release significant value for investors. It might, incidentally, help solve the looming succession issue as founder and Chief Executive Officer Arnault comes closer to handing over the reins to the next generation.