The Perfect Paradox of Star Brands: Arnault of LVMH
Who would want to run a company that makes and sells products no one needs? Only a fool, right? Unless, of course, the company is LVMH Moët Hennessy Louis Vuitton, the world’s largest and by far most successful purveyor of luxury goods. Each year, LVMH sells billions of dollars—$10 billion in 2000 to be exact—of items that serve little purpose in the lives of consumers except to fulfill dreams. And those dreams don’t come cheap—a magnum of 1985 Dom Pérignon Rosé champagne costs about $925; a Givenchy gown $15,000; and the finest…
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