/kloc-in 0/854, Vuitton opened its own company-Louis Vuitton, which is very close to the fashion houses around Vandom Square. Because he is familiar with wood, silk and satin, he is respected by fashion designers, who hire him to package their works. The flat-topped suitcase he invented is easier to stack and more suitable for traveling than the traditional dome suitcase, which also established his reputation as a master of suitcase manufacturing. Vuitton began to cover his suitcase with gray Trianon canvas, which was elegant and waterproof when painted.
As the business became more and more successful, Louis Vuitton set up a factory in Asnier, a suburb of Paris, from which it was convenient to transport timber from the south. When his original store became too small, his business moved to 1 Rue Scribe, and Vuitton began to focus on making suitcases instead of packaging. From Spanish King Alfonso XII to future Russian Tsar Nicholas II, Vuitton became a suitcase supplier for many famous people in that era. He specially made a suitcase for Egyptian Governor Ismail Pacha to attend the opening ceremony of the Suez Canal, and also made a suitcase for Savorgnan de Blaja who discovered the source of the Congo River in 1876. Vuitton's luggage, with luxurious interior and exterior decoration, is far superior to any previous products.
1876, in order to prevent copying Trianon gray canvas, Vuitton introduced a new design, including red and beige stripes and brown and beige stripes to cover his suitcase. Damier series checkered patterns were born in 1888, and have been carried by 125 years. A large part of the company's success lies in its ability to cope with the ever-changing travel modes that appeared at an alarming rate in the second half of the19th century. Vuitton designed classic wardrobe suitcases for sleeping cars and light suitcases traditionally used by British aristocrats. His son George played an important role in enterprise management and opened the first overseas branch of Vuitton in London on 1885.
1890, George Vuitton, the son of Louis Vuitton, invented an anti-theft inverted lock with a digital key, which provided each customer with a password to protect all his luggage. Two years later, the company's first catalogue showed a wide range of products, from very professional suitcases for transporting specific items to simple bags suitable for typical travelers. Four years after the death of Louis Vuitton 1892, George launched a new canvas design and attacked imitators again. In memory of his father, George's new design highlights the initials of Louis Vuitton with stars and flowers as the background; It was patented and immediately succeeded.
George Weiden went to the United States to attend Chicago Expo 1893, and he was convinced of the importance of overseas sales network. By the end of this century, john wanamaker, the owner of a large department store chain, began to sell Louis Vuitton as an agent in new york and Philadelphia, and the London store also moved to New Bond Street, the luxury commercial center in London. The company also expanded its distribution scope to Boston, Chicago, San Francisco, Brussels, Buenos Aires, Nice, Bangkok and Montreal in the early 20th century.
George Weiden also foresaw the importance of cars as a means of transportation, and began to design car trunks that imitated the lines of cars to protect travelers from rain and dust. Passengers may travel by boat, car or train, and they will encounter various problems during the trip. Therefore, lightweight and flexible ice bags, kettles and steamer bags came into being. Other efforts to adapt to changes in tourism include making suitcases and spare tire boxes for airplanes and hot air balloons. 19 14, the company built a new building on the Champs Elysé es as the center of its growing distribution network; This store has become the largest retailer of tourist goods in the world.
After the outbreak of World War I, the products were modified according to the needs of the war, and the concise and sturdy military suitcases replaced the exquisite and luxurious styles. Some factories in Asnières also began to produce folding stretchers, which were directly loaded into ambulances heading for the front. 19 18 when the Germans attacked 60 kilometers away from Paris, it was difficult for George to supply his factory with materials and ensure the safety of workers. After the war, Louis Vuitton tried to supply their stores with the surplus products of the factory. Although the company provided a jewel box for Prince Yusobov before the Bolshevik Revolution to transport gems to the United States, such private orders were not common after the war, and the factory spent more time making display cabinets for production salesmen.
With the improvement of the post-war economic situation, Louis Vuitton regained a fashionable customer base and special orders increased. Asnières's studio is dedicated to making orders for rich people such as coco chanel and the presidents of France and China. Charles Lindbergh, the first non-stop flight to the Atlantic in history, ordered two suitcases from Vuitton to fly back to the United States from France. During this period, the company provides some packaging services for foreigners who come to buy Paris fashion series clothes. In the early 1930s,1965-1938+1930, exoticism was all the rage, and Vuitton used turtle shells, lizard skins, ebony and other unusual wood in its production.
However, with the deterioration of the global economic situation, Vuitton realized the necessity of improving its profitability. Gaston Vuitton, the son of George Vuitton, and his father worked together to improve the efficiency of the company, set up an advertising company and set up a design room to make detailed drawings of products and show them to customers before manufacturing. When George Vuitton died at 1936, special orders dropped sharply, and the company's sales were more dependent on the products in its general catalogue than ever before. These luggage products have been expanded to include typewriters, radios, books, rifles and wine boxes.
Not long after World War I, World War II broke out again. The delivery of Vuitton products was reduced, overseas contracts were terminated, and Vuitton factories and shops were closed. After the war, in order to resume production, supply stores and reorganize business. Gaston Vuitton's three sons (that is, louis vuitton's great-grandchildren) played an important role. Henry Vuitton is engaged in business management, Jacques Vuitton is engaged in financial management and Claude Vuitton is engaged in factory management.
1940, France, with the strongest army, surrendered to Hitler. Hitler appointed Marshal Henry philip petain, a French war hero during the First World War, as the head of the French puppet government.
At that time, many famous French companies were forced to close down, but the famous brand Louis Vuitton flourished, because gaston Vuitton, then president and grandson of Louis Vuitton, instructed his eldest son Henry to maintain good relations with Vichy government. Henry frequented the local cafes frequented by the Gestapo. Through private transactions, Louis Vuitton was recognized by the puppet regime and the Germans. Louis Vuitton Company produced 2,500 busts of Petain, publicly praising Nazis and traitors. Henry also became the first Frenchman to be commended by the Nazis for his "outstanding" contribution to the puppet regime.
1954 Company100th anniversary, Louis Vuitton moved from Champs Elysé es to Marceau Avenue. With the development of trains, cars and planes, the travel time has been shortened, and the company has created and improved soft-faced suitcases. 1959, gaston Vuitton perfected his theme canvas coating system, making them more durable, waterproof and suitable for short trips. These lightweight and practical bags mark the new standard of luggage. From 1959 to 1965, gaston invited famous artists to participate in accessories design, and Vuitton suitcase launched an average of 25 new models every year.
With the success, reputation and status of the company in the field of luxury goods, a large number of counterfeit Louis Vuitton products have appeared in Asia. One year before the death of 1970, gaston Vuitton decided to open a shop in Tokyo to crack down on counterfeiters. By providing genuine Vuitton products in the Asian market, he hopes to better serve customers and prevent the purchase and manufacture of imitations. The company also launched a successful advertising campaign to counter the increase of counterfeit products.
From 65438 to 0977, gaston Vuitton's daughter Audi's husband Henry Lakamir took over the company. La Camille founded a steel manufacturing company, Stinox, after World War II, and sold it before coming to Louis Vuitton and made huge profits. Under the leadership of La Camille, the sales of Louis Vuitton soared from $20 million in 1977 to nearly $ kloc-0/987. Lacamel realized that the main profit comes from the retail industry, and in order to succeed at the international level, Louis Vuitton must expand the influence of its stores and distributors outside France. Therefore, Louis Vuitton opened stores all over the world from 1977 to 1987, and Asia became the company's main export market.
1980 is a bumper year for Louis Vuitton, because its reputation has been greatly improved. 1983, Louis Vuitton became the sponsor of the America's Cup preliminaries. Three years later, the company established the Louis Vuitton Opera House and Music Foundation. At the same time, 1986, the shops in the center of Paris moved from Marceau Avenue to the luxurious Montaigne Avenue. During this period, the production of Asnières factory began to adopt laser and other modern technologies, and a distribution center was opened in Cergy-Pontoise, north of Paris. The importance of logistics is self-evident. The company spends 2% of its annual sales revenue on the endless struggle against counterfeiters.
1983, Louis Vuitton began to acquire companies famous for their high quality, and bought the rights and interests of fashion designer Givenchy and champagne brand Kaige Youwu Krikow.
From 65438 to 0984, Louis Vuitton Group continued its capital expansion after listing. Racamier, the head of the group and son-in-law of the Vuitton family, urgently needs outside support. Knights with deep pockets are optimistic about this old luxury brand, so they have the intention to buy it.
After three years of negotiations, the intention of cooperation between LV and MH (Moet and Hennessy) has been settled. On June 30th, 1987, witnessed by a press conference, Racamier, son-in-law of the Vuitton family, signed a contract with Chevalier in the spotlight, marking the official birth of LVMH, the world's largest luxury goods group. But neither Lu nor MH likes each other.
1987, the power struggle between the two sides became fierce, and Arnault, who had been coveting LVMH for a long time, officially started secret operations. On the one hand, he promised to help the son-in-law of the Vuitton family to provide funds to help defend his position in LVMH; Turning to play "good brothers" in front of the knight, the knight mistakenly thought that entering LVMH could effectively balance the relationship between the two sides.
So Chevalier made the most fatal mistake in his life: secretly transferring 24% of his convertible bonds to Arnault to help him become the controlling shareholder.
The real climax is coming! 1987 10 In June, the Wall Street stock market crash broke out and the French stock market crashed. Affected by the stock market crash, LVMH Group's share price plummeted by more than 70%. Arnault spent all his money on bargain hunting, secretly poked the interests of management and shareholders at all levels in the struggle, and became the chairman of LVMH Group in one fell swoop!
Since then, LVMH has started its acquisition journey.
1993: berluti–1895 was founded by Italian Alessandro Berluti, and its brands of men's shoes, leather goods and men's wear were acquired by LVMH.
1993: Kenzo-founded in 1970, women's and men's clothing brands were acquired by LVMH for $80 million in1993.
1994: Guerlain, a French brand of perfume, cosmetics and skin care, is one of the oldest brands in the world. Founded from 1828 to 1994, it was owned and managed by Guerlain family members and later acquired by LVMH.
1996: cé line-This Paris-based brand was founded in 1945, providing ready-made clothes, leather goods, shoes and accessories. 1987, Arnault acquired the capital of Céline, but it was not until 1996 that the brand was merged into LVMH group for 2.7 billion French francs (US$ 540 million).
1996: loewe-this Spanish company founded in 1846 was acquired by LVMH in1996. Loewe initially focused on high-quality leather products. Today, Loewe offers leather products and ready-made clothes.
1997: marc jacobs-Since 1997, LVMH has been holding a majority stake in this new york-based brand founded in 1984. Marc jacobs himself became the creative director of women's wear at Louis Vuitton in 1997, and stayed there for 20 13 years. After leaving, he focused on his eponymous brand.
1997: French cosmetics chain Sephora was founded in 1969. /kloc-0 merged into LVMH in July, 1997, and has been expanding all over the world since then.
1999: Thomas pinker-Thomas pinker was founded in 1984 and acquired by LVMH in 1999. It is understood that LVMH has paid about 30 million pounds to Thomas Pink's Irish Mullen family for two-thirds of the company's shares.
1999: TAG Heuer, a Swiss company founded in 1860, accepted LVMH's bid of $739 million at 1999 in exchange for 50 1% ownership.
1999: Gucci group-199965438+1October 6th, it was publicly reported that LVMH acquired 5% of Gucci's shares. Bernard arnault, chairman of LVMH Group, insists that this is a passive share, and he totally intends to keep Gucci independent. By199965438+1October 26th, Arnault had increased its shareholding in LVMH to 34.4%.
1In September 1999, Pi Nuo-Paris Spring Department Store-Reddutt (now known as kering) agreed to pay LVMH 806 million US dollars to acquire a majority stake in Gucci Group. At the same time, LVMH announced that it plans to sell its remaining shares in Gucci to a financial institution before the end of the year. (For a comprehensive understanding of the failed struggle between LVMH and Gucci Group, you can find it here. )
2000: Emilio Pucci-This Italian company was founded in Florence on 1947, and was acquired by LVMH in 2000. LVMH paid an undisclosed sum and obtained 67% ownership. In June, 20021,LVMH bought the remaining 33% of the shares from the Pucci family, and the exact amount was not disclosed.
2000: Rossimoda-This Italian fashion company was founded in 1977. In 2000, LVMH held a minority stake in the company and later obtained exclusive ownership.
200 1: La Samaritan-In 20065438+0, LVMH bought 55% shares of La Samaritan (and its real estate), a French landmark department store, for 256 million euros. It increased its ownership to 100% in 20 10. A comprehensive understanding of LVMH's struggle for La Samaritaine can be found here. )
200 1: fendi-this Italian company was founded in Rome on 1925 and has been a part of LVMH group since 2000. In July 2000, LVMH and Prada both acquired the ownership of Fendi. In February 2006, LVMH acquired the shares of Prada, increasing its shares in Fendi to 5 1%. In February 2003, LVMH further increased its shareholding ratio to 84%.
20065438+0: DKNY —— In 20065438+0, LVMH acquired 89% of the shares of this new york brand founded in 1984. LVMH sold the company to G-III Clothing Group for 650 million dollars in February 20 16.
200 1: Hermes-In 20065438+0, LVMH acquired 4.9% of the initial equity of Hermes through its subsidiaries, and purchased stock derivatives through financial intermediaries and subsidiaries, and continued to increase its shareholding in its Paris competitors, with each company holding less than 5%. 20 10, 10, LVMH announced (unexpectedly) that it had acquired 14.2% of the shares, 20 1 12, announced that its shares in Hermes had increased to 22.6%, and then arrived.
After the investigation of Autorité des Marchés financiers, a French financial services regulator, reached a climax, the agency found that LVMH secretly bought shares of rival Hermes and became a shareholder of this iconic design company, instead of just making financial investments like LVMH. It is said that under the intervention of the French court, LVMH announced that it would distribute 23% of its Hermè s shares to shareholders and institutional investors, and agreed not to buy any Hermè s shares in the next five years.
LVMH's shares in Hermes have all been allocated, so as of 20 15 12 3 1, LVMH no longer holds any shares in Hermes. A deeper understanding of the litigation procedure between LVMH and Hermes can be found here.
2009: edun- founded by Ali Hewson and Bono in 2005, aims to promote fair trade in Africa by purchasing products from the whole African continent. The founder sold 49% of the company's shares to LVMH in May 2009. 2065438+June 2008, LVMH spun off its minority brand on the African continent and returned it to its founder.
2065438+00: Moynat, the holding company of bernard arnault and CEO of LVMH, acquired Moynat, a suitcase manufacturer in the19th century, five years older than Louis Vuitton.
20 1 1: Bulgari, an Italian jewelry brand founded in 1884, was acquired by LVMH in an all-share transaction of $60 1 billion, in which the Bulgari family sold 50.4% of its controlling stake in exchange for 3% of LVMH's shares.
2013: Loropiana-LVMH bought 80% of the shares of this Italian luxury textile and garment company founded in 1924 for 2 billion euros in February 2065 438+03.
20 13: Nicolas Kirkwood -20 13, LVMH acquired 52% of the shares of this British footwear company established in 2004. In September 2020, Kirkwood announced that it would take back all the ownership of its brand from LVMH, and the transaction amount was completed by the end of 2020.
2065438+03: JW Anderson-In addition to announcing that Jonathan Anderson will be in charge of Loewe, LVMH also acquired a minority stake in Anderson's eponymous brand JW Anderson for an undisclosed amount.
2015: Repossi-LVMH acquired a 4 1.7% stake in this family-run Italian jewelry brand on 201.05. In 20 19, its share in Repossi increased to 69%.
20 16: Rimowa-LVMH Group acquired 80% of the shares of this German luggage company founded in 1989 at 20 16 10 for 640 million euros.
20 17: christian dior-LVMH technically acquired this Paris-based haute couture house for $20 13 1 billion. Before the transaction, Groupe Arnault, a private holding company owned and controlled by bernard arnault, was the only major shareholder announced by Christian Dior SA (for a deeper understanding of the previous Dior ownership structure, you can find it here).
2065438+08: Jean Patou-LVMH acquired a majority stake in Jean Patou, a French high-end fashion brand, and said that it would revive itself by relaunching the ready-to-wear collection. LVMH bought a controlling stake from British designer Parfums Ltd
20 19: Fenty-LVMH officially launches a new brand Fenty. As part of a joint venture with musician Rihanna, Rihanna holds 49.99% of the shares of the new brand, while LVMH holds 50.0 1% of the shares.
20 19: stella mccartney-LVMH established a "joint venture" with stella mccartney, and the brand ended its long-term joint venture relationship with rival enterprise group Kaiyun. The terms of the transaction between the two parties have not been disclosed, but it is reported that Ms. McCartney is still the major shareholder of her namesake brand.
2020: Tiffany Company-After LVMH tried to withdraw from the acquisition of Tiffany Company by as much as $ 162 billion ($ 135 per share) and launched a legal battle with Tiffany Company, both parties agreed to renegotiate the transaction, in which LVMH will acquire Tiffany Company at the price of $ 1.50 per share.
202 1: phoebe philo-When announcing that former Celine creative director phoebe philo would launch her own brand, Louis Vuitton revealed that she had a minority stake in the upcoming brand. The size and terms of the minority stake in LVMH have not been disclosed.
202 1: gray-white-LVMH announced that it would hold 60% of the gray-white brand owned by Virgil Abloh. Hablot will keep 40% of the shares and continue to be the creative director of the brand he founded on 20 13.
202 1:Universelle Buly official 1803-LVMH acquires French perfume and cosmetics company Universelle Buly official 1803.
At this point, LV, Dior, Givenchy, Bulgari, LOEWE…… .................. Yes, you are not mistaken. Most of your favorite luxury bags, perfumes and cosmetics actually come from LVMH Group.
LVMH brand