LVMH highest valued company on European stock market
According to research data recently published by Italian business outlet Finaria, Paris-headquartered luxury conglomerate LVMH is currently the highest valued company on the European stock market.
As of the end of February, the group’s market capitalisation stood at €264.55 billion (around $319 billion), surpassing Nestlé’s roughly $292 billion market cap.
LVMH’s share price rose by 65.4% between April 2020 and February 2021. During the same period, luxury rival Richemont’s share price reportedly increased by 74%, with Hermès growing by 54.7% and Kering also posting a gain of 22.1%.
LVMH’s leathergoods division recorded double-digit growth in the third and fourth quarters of 2020, although both revenue and profit declined by 4.8% and 2%, respectively, year on year.
Footwear-focused brands in the division include Berluti.
Image: Berluti.
