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In 1999, it was sold to Louis Vuitton Moët Hennessy, which paid about €48 million for 70% of the company. [1] [2] [8] [9] At the time, the company had 20 shops, including 17 in the UK, one in Dublin and two in the United States. [10] LVMH bought the remaining 30% of the company in 2003. [9]
In 2022, Louis Vuitton announced a €1 million donation to UNICEF to help the Ukrainian victims of the Russian invasion. [107] On 2 March 2022, LVMH Group pledged €5 million to the Red Cross to those affected by the war. [108] [109] In addition, the company closed 124 of its stores in Russia. [110]
The Louis Vuitton label was founded by Vuitton in 1854 on Rue Neuve des Capucines in Paris. [21] Louis Vuitton had observed that the HJ Cave Osilite [22] trunk could be easily stacked. In 1858, Vuitton introduced his flat-topped trunks with Trianon canvas, making them lightweight and airtight. [21]
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