Category Archives: Bernard Arnault

Louis Vuitton owner LVMH reports surprise sales drop amid China slowdown

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Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7%, briefly hitting two-year low

Shares in luxury goods brands slumped after Louis Vuitton’s LVMH reported an unexpected fall in third-quarter sales amid China’s economic slowdown.

Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7% in early trading, briefly hitting a two-year low, before regaining slightly, after it warned of an “uncertain economic and geopolitical environment”,with falling sales in Asia.

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Lotus produces record 2,200 sports cars in first half of 2023

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British carmaker also gearing up for sales of new Eletre electric SUV under Chinese owner Geely’s expansion plans

The British carmaker Lotus produced a record number of sports cars in the first half of 2023, as it gears up for a huge push behind sales of a new electric SUV under its Chinese owners’ expansion plans.

Lotus, which marked its 75th anniversary this year, produced 2,200 vehicles in the first six months of the year at its factory in a former second world war bomber factory at Hethel in Norfolk.

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Elon Musk loses title of world’s richest person to Bernard Arnault

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Loss of top spot to LVMH chief executive comes after Tesla shares more than halve in value

Elon Musk has lost his crown as the world’s richest person, after further falls in the value of shares in his electric car company Tesla.

Forbes and Bloomberg, which track the wealth of billionaires, reported that Musk had lost the top spot to France’s Bernard Arnault, the chief executive of the luxury group LVMH.

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