LVMH is a Bigger Luxury Powerhouse Than You Realize

LVMH, or Louis Vuitton Moët Hennessy, is a conglomerate of luxury brands majority owned by Bernard Arnault. Arnault just recently became the richest person in the world, surpassing both Jeff Bezos and Elon Musk. It seems that the luxury goods business is booming, no matter how poorly the economy is going for everyone else.

To see the shocking number of luxury brands that LVMH owns, check out this new infographic from


According to an article by Vox last year, the luxury industry has been performing so well because these expensive goods are being promoted through pop culture and social media like never before and, because of this, they are becoming an increasingly-important status symbol for everyone, not just those in wealthier social circles.

It’s also been theorized that more and more people are buying goods they can’t afford because of the impact it may have on their self-esteem and short term happiness. When the economy is doing poorly and a lot of stressful things are going on around the world, people may just need that small dopamine hit of making a big purchase that they are proud of. Basically, they are accomplishing something by being able to purchase it, even if it puts them further into debt.

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