<\/p>\n
LVMH is poised to lose its crown as France\u2019s most valuable company and drop out of Europe\u2019s top 10 listed firms, a symbolic reversal for the luxury giant that led the region\u2019s market during the post-pandemic boom.<\/p>\n
The stock fell 2.5% on Tuesday, cutting its market capitalisation to \u20ac201 billion ($232 billion) and putting it just under L\u2019Oreal SA. The move knocks LVMH out of Europe\u2019s top 10 for the first time since 2017.<\/p>\n
\u201cThose who claim that Europe is back are wrong, Europe is not back: what LVMH tells us is that its main growth engine, luxury, is broken,\u201d said Vincent Juvyns, chief investment strategist at ING in Brussels.<\/p>\n
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LVMH Mo\u00ebt Hennessy Louis Vuitton SE, Europe\u2019s most valuable company at its 2023 peak when shares topped \u20ac900 apiece, has fallen about 55% since. Luxury demand has faded in the crucial Chinese market, while conflict in the Middle East has more recently hit spending in key shopping hubs.<\/p>\n
Adding to the pressure, Louis Vuitton, LVMH\u2019s most profitable label, has recently faced a consumer backlash in China over a trademark dispute with a local tea company, deepening its challenges in the country. Several brokers have cut ratings and price targets.<\/p>\n<\/p>\n
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The conglomerate controlled by billionaire Bernard Arnault has seen its shares plunge about 37% this year alone, bringing them back to pandemic-era levels when lockdowns shut down many stores across the world. The drawdown is now of a similar magnitude to the drop experienced during the global financial crisis.<\/p>\n
According to the Bloomberg Billionaires index, Arnault last week fell out of the top 10 list of the world\u2019s biggest fortunes, leaving an all-American roster of mostly tech billionaires to dominate the rankings.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#LVMH #Europes #biggest #stock #exits #top #luxury #slumps<\/p>\n","protected":false},"excerpt":{"rendered":"
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