LVMH - English Oral

ANGLAIS

1.   Introduction

The company we will introduce to you today is LVMH, the world’s leading group in the luxury industry. The headquarters of the group are based in 22 Avenue Montaigne in Paris, and you can find 4915 stores that represent the group worldwide. The CEO, Bernard Arnault has been elected the 3rd richest man by Forbes just before being relegated to the 4th place.

2.   Corporate Identity

LVMH, current world leader in the luxury industry, is a French company founded by Alain Chevalier and Henry Racamier. The two entrepreneurs, respectively at the head of Moët Hennessy and Louis Vuitton, decided to merge the 3rd June of 1987 at the hotel Plaza Athénée in Paris.

This union, fragile and promised to bankruptcy, because of the differences between the two bosses attracted the attention of Bernard Arnault. In fact, he was already the headmaster of Christian Dior Perfumes and Céline. With the help of the brewer: Guinness, Bernard Arnault created a new company which only had one goal: becoming the major shareholder of LVMH.

The operation is a real success with more than 40% shares acquired by the corporate. In 1990, Bernard Arnault officially became the headmaster of LVMH, after the eviction of the two founders. Since his access to the head, the acquisition never stopped: Guerlain in 1994, Tag Heuer in 1999 and more recently Tiffany & Co.

The company's history is the result of a long-term vision of its CEO

LVMH has for vocation to pass down its values.

First of them is to be creative and innovative. In fact, these values allowed the company to develop and last over time by reinventing itself, while retaining the brand's authenticity.

The second one is excellence, quality is the key word. Indeed, these luxury goods represent the world of craftsmanship, especially by paying a meticulous attention to detail and perfection.

The last one is about cultivating the entrepreneurship spirit. The decentralized organization of the group promotes efficiency and responsiveness. It stimulates individual initiatives by entrusting important responsibilities to each.

Entrepreneurship facilitates risk taking and encourages perseverance, employees must have a pragmatic spirit and the ability to mobilize teams by leading them towards ambitious goals.

The executive committee mission is to make up the Group's general operational and functional departments, they define the strategic objectives. For the board of directors, Its main missions are the adoption of the major strategic orientations and the monitoring of their implementation. This organization has a top down structure. In fact, there is the C.E.O Bernard ARNAULT the group's main shareholder via the Christian Dior holding company. He is an iconic CEO positioned as a world leader and influencer. Some high grades collaborators and at the bottom the employees.

3.   Functioning

LVMH is a parent company that controls more than 75 houses, making it one of the largest groups in the luxury industry by being present in all areas of the luxury industry: wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, hotels and much more.

LVMH is a PLC company because the business offers shares to the public.

The French group is an international company, not only by its massive size, but especially because today it has more than 163,000 employees worldwide, as well as workshops, sales outlets and headquarters. A global presence, which enables the group to ensure its influence and sales power throughout the world. The group is well known to all, and its international profile makes LVMH a major player in the world of luxury.

...