LVMH reaches $500B market cap

 

LVMH has become the first European company in history to reach a $500B market value. The company is now ninth among the 10 most valuable companies globally. Analysts have credited strong sales in China and a strengthened Euro currency as the two main reasons behind the LVMH stock momentum. The company's boost has made Bernard Arnault's net worth reach $212B, enough to make him the world's richest person. The French conglomerate owns brands such as: Louis Vuitton, Tiffany&CO, Givenchy, Sephora, Hennessy,  Fendi, Dom Perignon, Off-White, etc. Bank of America Corp analysts expect the stock to reach €1,000 ($1,100) in 2023.