LVMH Group hits new record for market capitalization | In 2022, the Eiffel Tower got closer to pre-Covid care

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NEWS ➡ New LVMH market capitalization record in France | market capitalization from the French luxury giant LVMH, first european reviewhit an all-time high on Wednesday at paris stock exchangeat the 389.02 billion euros. At the top of the CAC 40, the company surpasses the previous capitalization record reached in January 2022.

LVMH figure in the 15 largest listed companies in the world. On Wednesday, the share price rose 2.12% at the 772.30 euros on the Paris Stock Exchange, boosted since the beginning of the year by the economic reopening of the China, one of the largest luxury markets. While there are concerns about the impact of the current wave of Covid-19, China should soon experience “a recovery in consumption”, explains to AFP Pierre Michaud, portfolio manager at Monocle. ” Some economists speak of a huge phenomenon, others anticipate a more gradual evolution, but in any case it will be very positive for LVMH”, he adds. LVMH announced on Wednesday the appointment of Delphine Arnaultdaughter of bernard Arnaultinstead of CEO of Christian DiorWhile Pietro Beccari, who held this position, will assume command of the Louis Vuitton, the world’s leading luxury brand. The decision was well received by several financial analysts, such as those at RBC Capital Markets or of Bernstein.

The group’s appreciation in the stock market benefited its CEO Bernard Arnault, who recently returned to being the richest man in the world, dethroning the American Elon Muskboss of You are here, SpaceX and twitter. The Arnault family fortune, which controls the group, is valued at nearly $205 billion, according to Forbes. By 2022, the title had held up relatively well on the stock exchange (-6.48%) despite an economic and geopolitical context that weighed on all markets. Before that, the stock price LVMH doubled between March 2020 and the end of 2021, an increase that was part of the post-Covid recovery and that was made possible by measures to help the economy by governments and central banks. The ability of luxury groups to raise their prices without affecting their sales has also given investors confidence, in a context of high inflation. The luxury giant’s turnover increased from €53.7 billion in 2019 in ” 80 billion expected in 2022” , I need Pierre Michaud.

THE NUMBER ➡ 5.8 million | With more 5.8 million visitors in 2022, Eiffel Tower it has returned to a level of care close to 2019 and before the health crisis, like the other great Parisian monuments, its operator (Seven) informed on Friday. ” With 5.849 million visitors received, 2022 marks the indisputable return of international visitors“, rejoiced the seven in a press release.

The Iron Lady, which hosted until 7 million visitors in 2014 and even 6.2 million in 2019had to close from mid-March to late June 2020, during the first confinement, then again from late October 2020 to mid-July 2021. Opened, therefore, only five and a half months in 2021, it welcomed 2.1 million visitors this year. In 2022, almost half of the visitors came from Europe, specifies Sete: in the lead, Italy and Spain (8%), followed by Germany and UK (7%) and then Belgium and the Netherlands (2%). The Americanswho returned en masse to the capital in 2022, “ alone represented about 11% of entries, adds La Sete.

On Thursday, the main Parisian museums also announced a strong increase in attendance compared to 2021, with a tendency to return to 2019 levels: 7.8 million for the Louvre, 6.9 for the Palace of Versailles, 3 for the Musée d’Orsay or the Center Pompidou… In addition to the return of foreign tourists, the year 2022 was marked, for the Eiffel Tower, by the installing a radio antenna on its top, now reaching a peak of 330 m, six more than before. As well as the opening of a new restaurant by the star chef Thierry marx.

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