Topic
23 facts from 7 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1987
The 1987 merger that created Moët Hennessy Louis Vuitton was a defensive move to block takeover attempts rather than a planned strategy.
“This is a marriage of convenience. This is not some grand strategy. The reason it happens is they're trying to prevent takeover attempts from corporate raiders.”
1987
After the October 1987 stock market crisis, LVMH shares fell to 1,200 francs, down 50%.
“LVMH was now quoted at only 1,200 francs. It was down 50%.”
1988
Arnault raised the equivalent of 1.5 billion francs in credits in under a month to buy LVMH shares.
“In less than a month, he had managed to raise the equivalent of 1.5 billion francs in the form of various credits.”
1989
Bernard Arnault took office as chairman of LVMH on Friday, 13 January 1989.
“Friday the thirteenth January 1989 was the day that he took office.”
1989
When Arnault attacked, LVMH shares soared to a record 4,720 francs.
“Arnaud attacked, the shares soared to 4,720 francs. Remember, he bought in,”
1989
In two sessions on January 5 and 6, Arnault bought 800,000 LVMH shares, about 8% of those outstanding.
“he managed to buy up 800,000 shares, 8% of the of the existing LVMH shares.”
1989
At age 40, Arnault said he wanted to make LVMH the biggest luxury goods group in the world.
“Arnault said he wanted to make LVMH the biggest luxury goods group in the world.”
1999
To fend off LVMH, Gucci created an employee stock ownership plan holding 25.5% of the company, using a loophole for a Netherlands-incorporated company.
“So Gucci hits the nuclear button and they create the ESOP and they issue it 25.5% of the company.”
2001
LVMH agreed on September 11, 2001 to sell its Gucci stake, earning a profit of about 760 million euros.
“because of the appreciation in Gucci stock through all of this, they will end up making a profit of about 760 million euros.”
2010
In October 2010 LVMH exercised its equity swaps and announced it controlled 14.2% of Hermès shares.
“In October 2010, LVMH exercises its options on the equity swaps that it owns and announces that it now controls 14.2% of Hermès shares.”
2014
In 2014 a French court ruled that LVMH had to sell down its roughly 23% Hermès stake because of how it had hidden its identity when buying.
“So in 2014, a French court ruled that LVMH had to sell down its stake from 23%. Because it was illegal how they masked their identity in acquiring the stake.”
2014
In 2014 a French court ruled that LVMH's secret accumulation of Hermès shares through equity swaps was illegal and fined it, and LVMH had to distribute the stake to its own shareholders.
“in 2014, the French court rules that this was illegal. LVMH has to pay a fine, I believe like a $10-15 million fine for having done this.”
2021
LVMH completed its acquisition of Tiffany at a renegotiated price of $15.8 billion, down from the originally agreed $16.2 billion.
“It is at Bernard's renegotiated price of $15.8 billion instead of $16.2. But the Arnault family now owns Tiffany.”
2021
In 2021 LVMH acquired 50% of Jay-Z's Ace of Spades champagne brand for an undisclosed price.
“Who comes in and acquires 50% of Ace of Spades for unannounced but probably hundreds of millions of dollars. LVMH.”
2022
LVMH reported almost $80 billion in revenue and over $20 billion in operating profit for 2022.
“In 2022, they just reported earnings. They did almost $80 billion in revenue. And margins have expanded. They did over $20 billion in operating profits.”
2022
LVMH's employee turnover in 2022 was 24%, compared with 6% at Hermès.
“LVMH's total turnover in 2022 was 24% versus Hermès' 6%.”
2023
A host of Acquired says its LVMH episode is its most-listened episode, with 40,000 more listeners than the next highest, the amazon.com episode.
“40,000 more people have listened to that episode than the next highest, which was amazon.com.”
2023
The Luxury Strategy by Jean-Noël Kapferer and Vincent Bastien was core preparation reading for Acquired's LVMH episode.
“a book that I alluded to earlier in the episode, The Luxury Strategy by Jean-Noël Kepfer and Vincent Bastien. This book was a core part for both you and me in LVMH prep”
Undated
The hosts say LVMH was the 15th largest company in the world by market capitalization and the only one in the top 15, besides Berkshire Hathaway, that was neither technology nor oil.
“LVMH is the 15th largest company in the world today by market cap. It is the only company in that top 15 that is not technology or oil besides Berkshire Hathaway.”
Undated
The hosts say LVMH is the largest luxury advertiser in the world, spending over $20 billion a year, roughly a third of revenue, on marketing.
“LVMH is the largest luxury advertiser in the world, and they spend, what's a third of revenue? Over $20 billion a year on marketing.”
Undated
Arnault's investments to gain control of LVMH cost 11 billion francs, leaving him needing to reduce debt.
“His investments had been costly 11 billion francs.”
Undated
The hosts say their LVMH episode brought about 40,000 new subscribers to Acquired.
“But then we did our Taylor Swift episode. We did the NBA, we did the NFL, and then we did LVMH. And LVMH, we got 40,000 new subscribers.”
Undated
The host says the biography of LVMH founder Bernard Arnault is out of print and hard to find.
“I read this bio, this really hard to find biography of his, which is out of print.”
Episodes