LVMH is World's Most Valuable Luxury Group
February 29, 24
(IDEX Online) - LVMH is the world's most valuable luxury company, based on market capitalization and revenue.
That's according to Insider Monkey, the investing website that has just published its top 25, based on a snapshot of their figures from 15 February.
The French conglomerate LVMH (Louis Vuitton Moet Hennessy), owns 75 maisons, including eight watch and jewelry brands (among them Chaumet, Tiffany & Co, Tag Heuer, Bulgari, Fred and Hublot). Its market capitalization is put at $438.86bn.
Paris-based Hermes (leather goods, lifestyle accessories, home furnishings, perfumery, jewelry, watches) is second placed, with a market capitalization of $248.17bn.
Christian Dior, another French conglomerate (luxury clothing, cosmetics, fashion accessories, jewelry, perfumes, spirits, and watches) is third at $151.57 bn.
Fourth position goes to the Italian-French multinational eyewear company EssilorLuxottica ($91.6bn) and in fifth place is Swiss-based Compagnie Financière Richemont (Baume & Mercier, Buccellati, Jaeger-LeCoultre, Piaget, Peter Millar, Purdey, Montblanc, Chloé, Delvaux, Dunhill, and Cartier) at $91.07bn.
If we focus on watches and jewelry only, France-based Kering is sixth, India's Titan is eighth, China's Chow Tai Fook is 12th, Denmark's Pandora 13th, Switzerland's Swatch 14th, Switzerland's Rolex 19th, and US-based Signet Jewelers is 24th.
The global luxury goods market was worth $346.19bn in 2023, according to Expert Market Research and is forecast to grow to $510.06bn by 2032.
"As some of the biggest luxury companies in the world expand their global footprint and diversify their product offerings, the luxury industry is expected to grow significantly in the coming years," says Insider Monkey.