LVMH Moët Hennessy Louis Vuitton’s market capitalization shot past the 200 billion euro mark Monday, closing at 397.50 euros per share. The market capitalization of French rivals Hermès International and Kering, meanwhile, stood at 68.85 billion euros and 65.56 billion euros, respectively. Swiss-based Compagnie Financière Richemont trailed behind its French competitors, with a market capitalization of 41.52 billion Swiss francs, or 37.77 billion euros.
Recently, investors seem to have shrugged off disruption to the LVMH’s business in Hong Kong an important market for high-end goods over the third quarter. Looking to grow further, the group has offered $14.5 billion for Tiffany & Co. The outcome of the bid remains uncertain, however, even if no counter offers have emerged.
Although investors see the potential combination as “very logical,” more than half polled didn’t think the deal would go through at $120 per share,