LVMH: Building of the World’s Most Valuable Luxury Goods Group

In 1984, Bernard Arnault learned that Christian Dior was for sale. Its parent company, Boussac, had filed for bankruptcy, and the French government was seeking a buyer for the struggling textile empire, which included the Paris-based fashion house. Arnault, then 35, had spent the previous decade running his family’s construction business. He reportedly combined $15 million in family funds with $45 million from French financial institution Lazard Frères to acquire Boussac, largely in pursuit of Dior.

Within two years, Arnault had turned Boussac profitable, laying off 9,000 workers and selling its disposable-diaper division and much of its textile operations for $500 million, according to a 1989 New York Times report. The acquisition transformed Arnault from the head of a relatively modest family business into a major force in French industry. But an even more consequential deal was still to come: In the late 1980s, Arnault began accumulating shares in LVMH Moët Hennessy Louis Vuitton, the luxury group formed in 1987 through the merger of Louis Vuitton and Moët Hennessy. By 1990, he had secured control of the group, setting the stage for an ambitious expansion into fashion, leather goods, jewelry, watches, beauty, and other luxury businesses.

Over the following decades, Arnault built LVMH into the world’s largest luxury goods group, bringing brands such as Givenchy, Fendi, Bulgari, and Tiffany & Co. under its umbrella. Today, LVMH encompasses more than 75 Maisons across six business sectors.

Reflecting on his strategy in a 2018 interview with CNBC, Arnault recalled facing criticism for bringing competing luxury brands under a single corporate umbrella. What initially struck some observers as an unconventional approach ultimately became a defining model for the modern luxury industry.

Here is a look at the timeline behind the building of the world’s most valuable luxury goods conglomerate. Please note: The following is not an exhaustive list of LVMH acquisitions and investments and instead focuses on a selection of fashion, beauty, jewelry, watches, retail, and other luxury businesses. It does not include transactions under the Métiers d’Art umbrella.

1987: Louis Vuitton 

Founded in France in 1854, Louis Vuitton became part of LVMH in 1987, when Louis Vuitton merged with Moët Hennessy, itself formed through the earlier combination of champagne house Moët & Chandon and cognac maker Hennessy, to create LVMH Moët Hennessy Louis Vuitton.

1988: Givenchy 

Founded in 1952, Givenchy, a couture and ready-to-wear brand, has been part of the LVMH Group since 1988.

Related coverage: The Story of How Givenchy Ended up Under the Umbrella of LVMH

1993: Berluti 

Founded in 1895 by Italian Alessandro Berluti, the men’s shoes, leather goods, and men’s ready-to-wear brand was acquired by LVMH in 1993.

1993: Kenzo 

Founded in 1970, the womenswear and menswear brand was acquired by LVMH in 1993 for $80 million.

1994: Guerlain 

The French perfume, cosmetics, and skincare brand, which is among the oldest in the world, was owned and managed by members of the Guerlain family from its inception in 1828 to 1994, at which point it was acquired by LVMH.

1995: Fred

French jewelry house Fred, founded by Fred Samuel in Paris in 1936, joined the LVMH Group in 1995 and today forms part of its Watches & Jewelry division.

1996: Celine 

Founded in 1945, the Paris-based brand offers ready-to-wear items, leather goods, shoes and accessories. In 1987, Arnault bought into Celine’s capital, but it was only in 1996 that the brand was integrated into the LVMH Group for 2.7 billion French francs ($540 million).

1996: Loewe

The Spanish company created in 1846 was acquired by LVMH in 1996. Originally specializing in very high-quality leather work, today, Loewe offers leather goods and ready-to-wear.

1997: Marc Jacobs (Exit)

LVMH acquired a majority stake in the New York-based brand, which was founded in 1984, in 1997. Marc Jacobs, himself, became the creative director of womenswear for Louis Vuitton in 1997, staying until 2013, when he left to focus on his eponymous label.

In a statement on May 14, 2026, LVMH and WHP Global announced that they entered into a definitive agreement for WHP Global to acquire the Marc Jacobs brand from LVMH. The transaction closed on September 1, 2026, with WHP Global and G-III acquiring the brand through a joint venture and G-III taking over its operating business.

1997: Sephora 

The French cosmetics chain, which was founded in 1969, was brought under the LVMH umbrella in July 1997, and has since been expanded globally.

1999: Thomas Pink (Exited)

Founded in 1984 and acquired by LVMH in 1999, Thomas Pink is a recognized specialist in high-end shirts in the U.K. LVMH is understood to have paid around 30 million pounds to Thomas Pink’s owner, the Irish Mullen family, for two-thirds of the company. In December 2024, LVMH sold Thomas Pink to a joint venture formed by Icon Luxury Group and CP Brands Group.

1999: Chaumet

LVMH acquired Parisian jewelry house Chaumet in 1999, adding the historic Place Vendôme jeweler to the group as it expanded its presence in watches and jewelry.

1999: Zenith

LVMH acquired Swiss watchmaker Zenith in 1999 as part of an expansion of its Watches & Jewelry portfolio.

1999: Tag Heuer 

The Swiss company, which was founded in 1860, accepted a $739 million bid from LVMH in 1999 in exchange for 50.1 percent ownership.

1999: Gucci Group 

On January 6, 1999, LVMH’s acquisition of a 5 percent stake in Gucci became public. LVMH chairman Bernard Arnault was adamant that it was a passive stake and he had every intention of letting Gucci remain independent. Arnault increased LVMH’s stake to 34.4 percent by January 26, 1999. In September 1999, Pinault-Printemps-Redoute (which is now known as Kering) agreed to pay LVMH $806 million for the majority of LVMH’s stake in the Gucci Group. At the same time, LVMH announced plans to sell its remaining shares in Gucci, about 12 million, to a financial institution by year-end. 

Related coverage: The Battle for the Gucci Group: “One of the Most Bitter Fights in Corporate History”

2000: Emilio Pucci 

The Italian company, which was founded in Florence in 1947, was acquired by LVMH in 2000. LVMH paid an undisclosed sum for a 67 percent ownership stake. LVMH acquired the remaining 33 percent stake from the Pucci family for an undisclosed sum in June 2021. 

2001: La Samaritaine 

LVMH acquired a 55 percent stake in iconic French department store La Samaritaine (and its real estate) in 2001 for €256 million. It increased its ownership stake to 100 percent in 2010.

Related coverage: Two Decades, a Bitter Legal Battle & $1B Later, LVMH’s La Samaritaine is Ready for its Debut

2000: Fendi 

LVMH and Prada jointly acquired stakes in Fendi in 2000. In December 2001, LVMH acquired Prada’s stake, increasing its ownership to 51 percent, before increasing its stake further to 84 percent in 2003.

Related coverage: Prada is Looking Build Out a Group Again, Sources Say

2001: DKNY (Exited)

In 2001, LVMH acquired an 89 percent stake in the New York-based brand, which was founded in 1984. LVMH sold the company to G-III Apparel Group in December 2016 for $650 million.

2001: Hermès (Exited)

Beginning in 2001, LVMH accumulated a 4.9 percent stake in Hermès through subsidiaries. In 2008, the group entered into equity swap agreements with financial institutions, giving it additional economic exposure to shares in its Paris-based rival. In October 2010, LVMH disclosed that it had increased its ownership to 14.2 percent, subsequently raising its stake to approximately 23 percent by 2013.

The accumulation prompted a high-profile dispute between the two luxury groups and an investigation by French financial regulator Autorité des marchés financiers (AMF), which sanctioned LVMH in 2013 for disclosure violations. In September 2014, LVMH and Hermès reached a settlement under which LVMH agreed to distribute its Hermès shares to its shareholders, while LVMH, Christian Dior, and Groupe Arnault agreed not to acquire additional Hermès shares for five years.

LVMH carried out the principal distribution in December 2014 and disposed of its remaining shares in 2015, ending its direct investment in Hermès.

Related coverage: Hermès vs. LVMH: The Timeline Behind a Takeover Attempt

2008: Hublot

LVMH acquired Swiss watchmaker Hublot in 2008, adding the luxury watch brand to its Watches & Jewelry portfolio.

2009: EDUN (Exited)

Founded by Ali Hewson and Bono in 2005 to promote fair trade in Africa by sourcing production throughout the continent, the founders sold 49 percent of the company to LVMH in May 2009. In June 2018, LVMH divested its minority stake in the brand back to its founders.

2010: Moynat 

Groupe Arnault, the family holding company of LVMH chairman and CEO Bernard Arnault, acquired Moynat, the historic Paris trunk-maker founded in 1849.

2011: Bulgari 

LVMH acquired Italian jewelry house Bulgari, founded in 1884, in a transaction valued at approximately €4.3 billion. Under the deal, the Bulgari family exchanged its controlling stake for shares in LVMH, becoming one of the group’s largest shareholders, while LVMH launched a tender offer for the remaining shares.

2013: Loro Piana 

LVMH acquired an 80 percent stake in Italian luxury textile and ready-to-wear company Loro Piana in December 2013 for €2 billion. In January 2026, LVMH increased its stake to 94 percent following the exercise of a call option for an additional 14 percent stake for €1 billion.

2013: Nicholas Kirkwood (Exited)

In 2013, LVMH acquired a 52 percent stake in the British footwear company, which was founded in 2004. In September 2020, Nicholas Kirkwood announced that he would reacquire LVMH’s stake in his eponymous brand, restoring the company to independent ownership.

2013: JW Anderson 

In addition to announcing that Jonathan Anderson would take the helm of Loewe, LVMH acquired a minority stake in Anderson’s eponymous JW Anderson label for an undisclosed sum.

2015: Repossi 

LVMH acquired a 41.7 percent stake in the family-run Italian jewelry brand in November 2015. It upped its stake in Repossi to 69 percent in 2019.

2016: Rimowa 

LVMH acquired an 80 percent stake in German luggage company Rimowa, which was founded in 1898, for €640 million in October 2016.

2017: Christian Dior 

LVMH acquired Christian Dior Couture in 2017 for approximately €6.5 billion as part of a broader restructuring of the Arnault family’s luxury holdings. The transaction brought the French fashion house directly under the LVMH umbrella, where it joined Christian Dior’s perfume and cosmetics business, which was already owned by the group.

In September 2026, the Arnault family announced plans to further simplify its ownership structure by merging its holding company, Agache, with Christian Dior SE. The combined entity, which would retain the Agache name, would directly hold 49.76 percent of LVMH’s shares and 65.55 percent of its voting rights. The proposed merger, expected to be completed in December 2026, would also involve a tender offer for the remaining Christian Dior shares not already held by Agache.

Related coverage: Behind the Deal: Who Actually Owns Christian Dior?

2017: Maison Francis Kurkdjian

LVMH acquired a majority stake in Maison Francis Kurkdjian in 2017. Co-founders Francis Kurkdjian and Marc Chaya remained shareholders and continued to lead the fragrance house as creative director and CEO, respectively.

2018: Belmond Ltd.

LVMH acquired Belmond Ltd. in a deal with an equity value of $2.6 billion and an enterprise value of $3.2 billion. Established over 40 years ago with the acquisition of Hotel Cipriani in Venice, Belmond owns and operates a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. The company operates in 24 countries with its unique and distinctive portfolio of 46 hotel, rail and river cruise experiences.

2018: Jean Patou 

LVMH acquired a majority stake in Jean Patou from Dilesh Mehta in 2018, subsequently relaunching the historic French couture house as Patou. In July 2026, LVMH sold the brand back to Mehta through his holding company, Nirvana Investments LLC-FZ. Financial terms were not disclosed.

Related coverage: After Quietly Acquiring Dormant Jean Patou Brand, LVMH Announces a Revamp

2019: Fenty (On hold)

LVMH officially launched a new label, Fenty, as part of a joint venture with musician Rihanna, who holds a 49.99 percent stake in the new label, while LVMH owns the majority 50.01 percent. (In February 2021, LVMH announced that it would put the Fenty venture on hold indefinitely.)

2019: Stella McCartney (Exited)

LVMH entered into a partnership with Stella McCartney in 2019, following the designer’s exit from her longstanding joint venture with Kering. McCartney remained the majority owner of her eponymous brand, while LVMH took a minority stake.

In January 2025, LVMH sold its stake back to McCartney, ending the five-year partnership.

2021: Tiffany & Co. 

LVMH completed its acquisition of Tiffany & Co. in January 2021 following a contentious deal process that included litigation and a renegotiation of the original purchase price. Under the revised agreement, LVMH acquired Tiffany for $131.50 per share, valuing the transaction at approximately $15.8 billion.

Related coverage: Tiffany & Co. v. LVMH: The Timeline Behind Luxury’s Biggest Deal to Date

2021: Phoebe Philo 

LVMH took a minority stake in Phoebe Philo’s eponymous label ahead of its launch. The size of LVMH’s stake and the financial terms of the investment were not disclosed.

2021: Off-White (Exited)

LVMH acquired a 60 percent stake in Virgil Abloh’s brand Off-White. Abloh retained a 40 percent interest and continued to serve as creative director of the brand, which he founded in 2013. In September 2024, LVMH sold its stake in Off-White to Bluestar Alliance.

2021: Officine Universelle Buly 1803

LVMH acquired Officine Universelle Buly 1803, the French perfume and cosmetics company, in 2021, nearly four years after first investing in the company through LVMH Luxury Ventures. Financial terms were not disclosed.

2023: Barton Perreira

LVMH acquired high-end luxury eyewear brand Barton Perreira in late 2023 through its eyewear division, Thélios. The acquisition aims to bolster Thélios’ portfolio and expand Barton Perreira’s footprint, particularly in Europe and Asia, while the brand’s founders, Bill Barton and Patty Perreira, remain in leadership roles.

2024: L’Epée 1839

LVMH acquired Swiza, owner of Swiss clockmaker L’Epée 1839, in 2024, adding the historic high-end clock and mechanical-object maker to its Watches & Jewelry portfolio.

2024: Les Domaines de Fontenille

LVMH acquired “a significant stake” in French boutique hospitality group Les Domaines de Fontenille. The terms of the deal have not been disclosed but LVMH is reported to have secured approximately 20 percent ownership in the upscale hotel group. Anaïs Ventures, a Geneva-based investment company, also participated in the funding round.