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May 8, 2024
05/24
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paris is one of the most iconic cities on the planet and lvmh is one of the planet and lvmh is one of the most iconic companies and most iconic french companies, is a little surprised they were very, very involved in the bid for the games and since the games were awarded to paris, been heavily involved in the way the games will be carried out, through providing uniforms, through louis vuitton, dior, but luthi is sponsoring athletes, providing spirits in hospitality areas, hennessy wines and spirits, creating medals and another area, you will see their brands everywhere in every part and fabric of these 0lympic everywhere in every part and fabric of these olympic games. putting on a game like this is expensive. we all know it too well, the countries that have hosted the olympic games. sponsorship is such a lucrative deal, such as 150 million euros is critical, isn't it? absolutely, very expensive to put the games on. the whole city relies on sponsors and global sponsors and many of the locals, there are different tiers, but many of the local companies to come on board and support in an
paris is one of the most iconic cities on the planet and lvmh is one of the planet and lvmh is one of the most iconic companies and most iconic french companies, is a little surprised they were very, very involved in the bid for the games and since the games were awarded to paris, been heavily involved in the way the games will be carried out, through providing uniforms, through louis vuitton, dior, but luthi is sponsoring athletes, providing spirits in hospitality areas, hennessy wines and...
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May 3, 2024
05/24
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which has a wider brand presence people did look a little bit toward puig and lvmh if you look at puig, it comes as a discount to l'oreal. at the 14 billion market cap, we worked seven times ebitda. there is going to be a debate around whether this ipo has become expensive for investors and whether the company has left no money on the table. if it trades up, everyone will be happy going forward we have to see how it trades the ipo coming at a discount to l'oreal, it wasn't cheap l'oreal was the highly valued of the peers. >> i want to hit on something else that charlotte mentioned. the fourth generation won't take part of the company. how should investors feel with the family owning 92% of the voting power you don't hear about this in the u.s. does this give management the benefit of the long-term strategy is it a positive they will not be as beholden as other companies? >> it is similar to the dayynamc with the shareholder and voting control. equity investors are passengers in the ipo we are seeing a little bit of that with puig perhaps the shareholders are buying into the brand for t
which has a wider brand presence people did look a little bit toward puig and lvmh if you look at puig, it comes as a discount to l'oreal. at the 14 billion market cap, we worked seven times ebitda. there is going to be a debate around whether this ipo has become expensive for investors and whether the company has left no money on the table. if it trades up, everyone will be happy going forward we have to see how it trades the ipo coming at a discount to l'oreal, it wasn't cheap l'oreal was the...
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May 1, 2024
05/24
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. >>> lvmh denies reports that it's looking to sell marc jacobs. lvmh, which owns just about 80% of marc jacobs is working on restructuring the affordable fashion brand for years. >>> luxury cruise operator viking reported ly showed it prices at $248 a share. it's the biggest u.s. stockmarket debut of 2024. >>> and we're going to hear from the ceo of viking river cruises on squa"squawk on the street" a 8:15. >>> puig shares are $24.50, top of the range. it's a fun name to say it. puig. how do you say it? >> we were wondering how to say it. it's not a well known name outside of spain. puig. they have a lot of famous brands. big, big names in the field there. so they're still led by the founding family and puig is the chair. he said they would bring discipline. now we have the details of this. the very top of the range. it's been oversubscribed. it gives the market cap. the family would maintain a controlling stake here. we know there's been a bit of a slowdown a wiwith the luxury. beauty and fragrance are a big player in that area there. so they hav
. >>> lvmh denies reports that it's looking to sell marc jacobs. lvmh, which owns just about 80% of marc jacobs is working on restructuring the affordable fashion brand for years. >>> luxury cruise operator viking reported ly showed it prices at $248 a share. it's the biggest u.s. stockmarket debut of 2024. >>> and we're going to hear from the ceo of viking river cruises on squa"squawk on the street" a 8:15. >>> puig shares are $24.50, top of the...
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May 18, 2024
05/24
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she had the backing of the global luxury goods giant lvmh. today, fenty has made rihanna a billionaire, but she's not alone. kyliejenner, one of the most followed people in the world on social media, launched a makeup line and became hugely successful all by the age of 21. the cosmetics industry, it's one of the most disrupted out there, as well as coping with covid. it's had to deal with an onslaught of these start—ups, which use the founder who can talk directly to customers on social media to drive growth and create a seemingly personal relationship with them. that's according to one of the authors of one of the most widely read reports in the cosmetic and beauty world. they're not necessarily celebrity driven, many of them are, but often there's a very strong founder story. and that story can be someone who had a skin problem, be it acne, something else, and that they found ingredient or solution that helped them. and then they developed a product and then developed a range of products. a lot of it has to do with the visual nature of it
she had the backing of the global luxury goods giant lvmh. today, fenty has made rihanna a billionaire, but she's not alone. kyliejenner, one of the most followed people in the world on social media, launched a makeup line and became hugely successful all by the age of 21. the cosmetics industry, it's one of the most disrupted out there, as well as coping with covid. it's had to deal with an onslaught of these start—ups, which use the founder who can talk directly to customers on social media...
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May 22, 2024
05/24
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we need great added value. >> lvmh is a great point for ai and what i they're doing. they're so advanced in itin terms of luxury players. one of the big stories today is they're teerp teaming up with alibaba to use their cloud and insights. it feels like they're going to be more targetted in the information they're getting around the clients, what they should be investing on r & d. from what you're seeing, all the advertising data, markets data, how is this different from what we're getting from ai? what's the ability to change the sort of product the company's come up with and how it reaches a consumer? >> one of the objectives we have is to be irrerelevant. being relevant to a mass is different than being relevant to an individual. with a mass, you have to find a common denominator. but with ai you can umbrella vanlt to each person, and you can have a personalized message, which is right on target, specifically targeted to the current. it's like what we have done with our early wishes. we have one specific message based on marcel, by the way. this has been something
we need great added value. >> lvmh is a great point for ai and what i they're doing. they're so advanced in itin terms of luxury players. one of the big stories today is they're teerp teaming up with alibaba to use their cloud and insights. it feels like they're going to be more targetted in the information they're getting around the clients, what they should be investing on r & d. from what you're seeing, all the advertising data, markets data, how is this different from what we're...
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include even love and affinity app leaders from faye, the ceo of tinder uh- all the way to the ceo of lvmh, anish melwani uh. and of course, across policy and activism, we have the incredible crystal eye. on the 25th anniversary of the white house initiative on a and apis. and last certainly not least, we have all the celebrities too. so the incredible dave patel, writer, producer, director and also action star all the way to alex nordstrom, the co-president of spotify. >> really stunning. and by the way, doctor faye lee too, right. she's like the mother of the bay . look why is it important to release and be as public as possible about this list, you were in times square in new york city today. i think that's pretty public. but why is that so important? >> we're so honored to be able to put our leaders and community in mainstream spaces, whether it's turning the empire state building gold or being in ten billboards in times square or on google.com for really two reasons. one is we want to project new and affirming portrayals that the next generation of leaders in general agnostic of where
include even love and affinity app leaders from faye, the ceo of tinder uh- all the way to the ceo of lvmh, anish melwani uh. and of course, across policy and activism, we have the incredible crystal eye. on the 25th anniversary of the white house initiative on a and apis. and last certainly not least, we have all the celebrities too. so the incredible dave patel, writer, producer, director and also action star all the way to alex nordstrom, the co-president of spotify. >> really...
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May 8, 2024
05/24
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businesses, despite their being pressures on luxury, you have some examples like lvmh, particularly while interest rates remain hie, although we think they're ready to cut. >> you mentioned that some of your clients and customers, they're moving out of money market funds but it's been a lot slower than a lot of people thought. there are trillions of dollars sitting in there talk to me about fixed income, money market funds, how much is it still after the recent run? >> a lot less than they were a couple of months ago we have seen a shift we're looking at client flows on our direct plat fofrmt we're very much going into growth and tech or the other end of the t tech, they're going into the money market trend however, we have seen them move away from money market funds into equity income, even emerging market income the penny still hasn't dropped for fixed income, which we think is really interesting because at the moment you can get some really compelling yields on what are some of the so-called safest assets in the fixed income market you just need to go to the u.s so we think although th
businesses, despite their being pressures on luxury, you have some examples like lvmh, particularly while interest rates remain hie, although we think they're ready to cut. >> you mentioned that some of your clients and customers, they're moving out of money market funds but it's been a lot slower than a lot of people thought. there are trillions of dollars sitting in there talk to me about fixed income, money market funds, how much is it still after the recent run? >> a lot less...
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May 17, 2024
05/24
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that was better than lvmh's division that includes tiffany and bulgerry. the other news the appointment of a company wide ceo. nicolas boss ran vancleat will oversee all the brands and report to johan rupert. rupert saying he's not stepping back, but wanted to delegate more of his direct reports. the news from china, though, continues to disappoint. sales in asia ex-japan falling 12%. rupert saying, quote, the chinese will recover. i however, think there was a drop in confidence and in the social contract because of the scars left by the lockdowns of covid. weakness in china was offset by the strength in the u.s. sales in the u.s. up 12%. europe was up 7%. guys, really mixed bag here. mixed shopping bag when it comes to luxury. burberry down 40% yesterday, 40% decline in profits and then caring with a profit warning in march because of the problems at gucci. it's really company specific and even brand specific right now, but broadly, luxury is slowing to the sort of low single digits from the double dim -- digits a couple years ago. >> lvmh has cautious co
that was better than lvmh's division that includes tiffany and bulgerry. the other news the appointment of a company wide ceo. nicolas boss ran vancleat will oversee all the brands and report to johan rupert. rupert saying he's not stepping back, but wanted to delegate more of his direct reports. the news from china, though, continues to disappoint. sales in asia ex-japan falling 12%. rupert saying, quote, the chinese will recover. i however, think there was a drop in confidence and in the...
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May 22, 2024
05/24
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you were also talking about lvmh's display, that they used ai to make it, where in years past, they would have had to hire an agency. correct me if i'm wrong. i believe he said ai is a gift from god is going to create more meaningful work? is that one of the discussions? europe has strong workers rights protections. >> that's indeed true. don't forget there's been real structural inequalities. there have been jobs with great benefits. there have been a lot of issues. we think about disruption from ai and job losses hourks does it shift the balance back to the employer? he thinks it's going to take away the mundane work. it will work with you to make it work better with you. that's a bitz of the nudge we heard this week that eventually you've got a co-pilot working with you to get more data, more insight, and everything you do is a better derived outcome because you have the computer, the intelligence behind the system working with you. he's on the page. they'll be better. he gave the example of artists who will be using ai. you're using the technology to create something better. we'll see
you were also talking about lvmh's display, that they used ai to make it, where in years past, they would have had to hire an agency. correct me if i'm wrong. i believe he said ai is a gift from god is going to create more meaningful work? is that one of the discussions? europe has strong workers rights protections. >> that's indeed true. don't forget there's been real structural inequalities. there have been jobs with great benefits. there have been a lot of issues. we think about...
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May 23, 2024
05/24
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lvmh with alibaba cloud. where does that leave the small seller will they be left behind with the data insights the companies will be able to achieve? >> just the opposite we think what a.i. will do is really level the playing field for small and medium businesses. think about the team of one of the big companies. product marketing for example. someone writing product descriptions for the sku you have product photography and we have it embedded across the platform a.i. will help you write better product descriptions and photography. we think what a.i. will do specifically for small businesses and brands the will level the playing field. they are writing product descriptions as good as the massive teams are doing it we are excited about it. we think a.i. will play a huge role we talked about the consumer which really wants to write a search query maybe we can anticipate other products similar to sandals and we can show the ruesults both the consumer side and s & b side, a.i. will be effective for commerce and
lvmh with alibaba cloud. where does that leave the small seller will they be left behind with the data insights the companies will be able to achieve? >> just the opposite we think what a.i. will do is really level the playing field for small and medium businesses. think about the team of one of the big companies. product marketing for example. someone writing product descriptions for the sku you have product photography and we have it embedded across the platform a.i. will help you write...
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May 15, 2024
05/24
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lvmh, up 80% since 2020. hermes, up 200% since 2020. kering down,6%. burberry, down 50%. all of those since 2020 have had significant hits. to your point, there are winners and losers in this space. it's just not everyone going higher. charlotte, ee's go to commerzba. the firm raised its outlook for the year. on the other side, dutch abn a.m. raised theirs up 4.97%. >> if you look at the risk costs, they were only $3 million. it's continuing. if you look at the rates, 1.9d%, it's still close to historic lows and with the economic side, they're still quite positive. so with the economic backdrop we see a benign environment. and also if you look at the pipeline, for example, for corporate lebnding, it's really being supported by a strong company. >> the stock's banking index hitting a high for the first time in nine years. the bond has also attracted short sellers. i'm convinced the rebound will last. others are getting hit with the short sellers a as well. david pierce, director for strategic initiatives joining us now. david, before we get into a lot more of what you put
lvmh, up 80% since 2020. hermes, up 200% since 2020. kering down,6%. burberry, down 50%. all of those since 2020 have had significant hits. to your point, there are winners and losers in this space. it's just not everyone going higher. charlotte, ee's go to commerzba. the firm raised its outlook for the year. on the other side, dutch abn a.m. raised theirs up 4.97%. >> if you look at the risk costs, they were only $3 million. it's continuing. if you look at the rates, 1.9d%, it's still...
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May 8, 2024
05/24
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customers are starting to rethink, then you think, ell, who can afford to go to disney >> and we saw it in lvmh, a lot of the beauty and cosmetics world, we've seen it in some of the aspirational spirits world we heard it from taiwan semi, whose stock dropped 6% at the end of april because they talked about end consumer demand for pcs and some of them were just generic chips have an appetite i sat on a roundtable, steve liesman does this was cnbc, and this was probably two weeks after visa gave earnings, and ultimately, look, their bottom line is, our consumer is stable. when you heard from the food service companies, guy referenced what mcdonald's had to say a lot more cautious, and different places where you are seeing that consumer break down, so, whether it's consumer credit that we talk about all the time that's at record highs, the savings rate that's burned through covid, you have to be concerned, even when there is a -- a dynamic with jobs that really is very much favoring the consumer >> i think it's a mix, thoep i think, if you are doing something better that the customers will still
customers are starting to rethink, then you think, ell, who can afford to go to disney >> and we saw it in lvmh, a lot of the beauty and cosmetics world, we've seen it in some of the aspirational spirits world we heard it from taiwan semi, whose stock dropped 6% at the end of april because they talked about end consumer demand for pcs and some of them were just generic chips have an appetite i sat on a roundtable, steve liesman does this was cnbc, and this was probably two weeks after...
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May 17, 2024
05/24
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slightly more affluent consumer, we've also seen, though, whether it's cosmetics and beauty, heard it from lvmh and lululemon and nike, and starbucks, some of these companies have company-specific issues in terms of competitive landscape, in terms of just where they were trading, in terms of growth rates in lulu's case, it's hard to replicate over and over again. the consumer is not falgling apart. we get a backdrop to the market, if we go sideways on the data, we're going slightly lower on rates and probably higher on the stock market. i don't feel comfortable as an a -- this week, everything went up, stocks, bonds, crypto, it was kcurrencies and gold. it's concerning. it does feel like there's risk aggression when we spent half this week talking about meme stocks, that bothers me. when i think about the money that's still in money market funds, i think of essentially there still is a lot of fear, plenty of people under weight, tons of benchmarks this year based upon the fear of seeing what the market did going into this year and look what it's done now, the risk trade is to the higher. >> tim
slightly more affluent consumer, we've also seen, though, whether it's cosmetics and beauty, heard it from lvmh and lululemon and nike, and starbucks, some of these companies have company-specific issues in terms of competitive landscape, in terms of just where they were trading, in terms of growth rates in lulu's case, it's hard to replicate over and over again. the consumer is not falgling apart. we get a backdrop to the market, if we go sideways on the data, we're going slightly lower on...
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May 7, 2024
05/24
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it's trading at around 49 times forward earnings that's about the same as her mess, twice of that of lvmh. you love looking at market cap ferrari is 50% higher than gm's total value. >> yeah. it's always, you know, funny, when we talk autos, which we often do, starting with tesla, we rarely mention race and, of course, i'm always interested in hearing about the company and always sort of stopped in my tracks by the 80 plus billion market value or wherever it may be right now robert, thank you. >>> up next, the man sam altman calls his secret weapon. don't miss my interview with openai coo brad lightcap also aheador fmer treasury secretary steven mnuchin will join us here at the milken conference "squawk on the street" will be right back the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo >>> big theme here at the milken conference that we talked about in the first hour of "squawk on
it's trading at around 49 times forward earnings that's about the same as her mess, twice of that of lvmh. you love looking at market cap ferrari is 50% higher than gm's total value. >> yeah. it's always, you know, funny, when we talk autos, which we often do, starting with tesla, we rarely mention race and, of course, i'm always interested in hearing about the company and always sort of stopped in my tracks by the 80 plus billion market value or wherever it may be right now robert, thank...