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Article: Luxury's final lap? (Louis Vuitton-Moet-Hennessy) (company profile)
- Article from:
- The Economist (US)
- Article date:
- January 14, 1989
CopyrightCOPYRIGHT 1989 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Luxury's final lap?
IS THERE such a thing as luxury? Though this sounds like the sort of question hungry Dominicans would have chewed over on fast days, it lies at the root of the French stockmarket fight over that country's biggest de luxe firm, Louis Vuitton-Moet-Hennessy.
When the fancy luggage firm joined up with France's biggest champagne-and-cognac producer 18 months ago, they formed, as LVMH, the largest French company quoted on the Paris bourse. The match sounded stylish and sensible: they could better face the problems of the luxury trade as a pair. Vuitton's marketing know-how would complement Moet's technical prowess.
It didn't work ...