The world number 1 in luxury LVMH exceeded 400 billion euros in market capitalization on Tuesday morning on the Paris Stock Exchange, a threshold crossed for the first time by a European company.
The share price reached a new record in the morning, touching 795.70 euros (+0.38%).
Since the beginning of the year, it has increased by more than 16%, boosted in particular by the economic reopening of China.
Around 1:40 p.m., it had fallen to 791.40 euros, down 0.15% over the session.
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LVMH's market capitalization, which refers to how much it would take to buy all of the group's shares, peaked at around 400.4 billion euros (about $433 billion).
LVMH is by far the best valued company on the stock market in Europe, ahead of the food giant Nestlé and the Danish pharmaceutical company Novo Nordisk.
But it doesn't weigh heavily against global behemoths like Apple, which was worth more than $2.13 trillion on Friday at the US close.
At 400 billion euros, LVMH is the 12th most valued company in the world according to Bloomberg and makes its boss Bernard Arnault the richest man in the world.
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“
The reopening of China is one of the main
“
megatrends
”
for the luxury sector in 2023
”, recall in a note RBC analysts for whom it is “
reasonable
” to consider “
a recovery trajectory of the luxury demand in China
”.
In 2021, Asia, excluding Japan, accounted for 35% of LVMH sales.
“
Strong brands in China today will remain strong brands when Chinese consumers travel abroad,
” they believe, citing LVMH, but also the French Hermès, also close to its market capitalization record, or the Italian Ferragamo. .