And those volumes are growing steadily. Last year Vuitton opened its first in-store shoe shop at Saks Fifth Avenue in New York, and it recently opened its first standalone shoe shop in Dubai Mall’s Shoe District. This Monday Selfridges in London will host Britain’s first Louis Vuitton Shoe Salon in its phenomenally successful Shoe Gallery, which has become a place of pilgrimage to the shoe obsessed, of which there are many. To celebrate, Vuitton has produced a black calfskin, silk satin and Swarovski-studded 14cm platform shoe in a limited edition of 24 pairs. They call it a ‘pump’, but that seems too basic a term for this high-glamour heel, the entire batch of which was still being finished when I visited Fiesso last month.
LVMH Moet Hennessy Louis Vuitton SA Rating Reiterated by AlphaValue (MC)
As I noted recently, the French vendor of elite handbags, clothing, jewelry and champagne has lost some of its shine. While it is still the worlds number one luxury brand, it has given up luster to rivals like Prada and Gucci. Luster is everything in the allure of the luxury world, so LVMH Moet Hennessy Louis Vuitton (the full name-dropping moniker of the company) is doing what it can to polish up. Its latest move: Its spending $2.56 billion to acquire 80 percent of Loro Piana, an exclusive Italian textile firm and clothier that hails from near Lake Como, a place where George Clooney hangs out. Loro Piana represents the opposite of the fast fashion trend epitomized by the likes of Zara and H&M. As BloombergBusinessweek noted , you could call it slow fashion. It deals in materials like vicuna wool, which comes from a South American llama cousin that yields the fine fibers only every two or three years – hardly the in-today out-tomorrow vision of a Zara shop. Likewise, Loro sells a $6,000 sports Louis Vuitton Handbags coat made from Myanmars lotus flowers.
America’s Cup sponsor Louis Vuitton wants a refund
Bernstein reiterated an outperform rating on shares of LVMH Moet Hennessy Louis Vuitton SA in a research note to investors on Monday, June 17th. They now have a 165.00 ($214.29) price target on the stock. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of 152.04 ($197.45). LVMH Moet Hennessy Louis Vuitton SA ( EPA: MC ) opened at 134.10 on Thursday.
Louis Vuitton’s “slow” road back to prestige
Louis Vuittonas initial sponsorship was for $10 million, according to an Americaas Cup source. Its contract was based on at least eight teams taking part in the Louis Vuitton Cup, a round-robin playoff to determine which team will ultimately sail against Oracle Team USA in the Americaas Cup championship. There are three teams entered in the Louis Vuitton Cup: Italyas Luna Rossa, Swedenas Artemis Racing and Emirates Team New Zealand. Since the 1980s, there have been anywhere from 7 to 13 teams taking part in the competition. Several potential challengers a from Korea, France, Australia, Spain and Italy a pulled out of the Americaas Cup, many citing the financial burden of competing at sailingas highest level. Louis Vuitton can get a $1 million rebate for each team less than six that participate, the Cup source said. That would mean the company is entitled to get $3 million back.