Louis Vuitton North America is the North American operations subsidiary of French luxury goods giant LVMH Moët Hennessy Louis Vuitton, which boasts more than 60 luxury brands including Clicquot, Dom Pérignon, Moët & Chandon, Christian Dior, Givenchy, Donna Karan (DKI), Sephora, and TAG Heuer. The company specializes in making and marketing wines and spirits, fashion and leather goods, perfumes and cosmetics, and watches and jewelry; it also dabbles in duty free shopping. Louis Vuitton North America operates more than 530 stores -- including a four-story emporium on New York's Fifth Avenue -- throughout the US and contributes more than 20% of its parent company's sales.
Up until the recession took hold in the US, consumers couldn't get enough of the company's expensive leather goods and watches, top-shelf champagne and cognac, and other luxury items. Sephora, part of LVMH's selective retail group, has been a strong contributor to growth in North America and offers modestly-priced cosmetics and fragrances, relative to the company's other goods at some 250 locations in the US, Canada, and now Puerto Rico. With North America in an economic slump, LVMH has looked to China and the Middle East for growth for the time being.
The business is also looking for new leadership. Following the appointment of Daniel Lalonde as managing director of champagne house Moet & Chandon in mid-2010, Geoffroy van Raemdonck was named acting CEO. Lalonde had served as president of LVMH North America for four years. – less