French Fashion Giant LVMH Adopts €1.5B Share Buyback Program

  • Luxury goods company LVMH-Moet Hennessy Louis Vuitton LVMHF has announced a plan to repurchase about €1.5 billion of its shares.
  • The share buyback is expected to begin on Mar. 1, 2023, and end on or before Jul. 20, 2023.
  • LVMH has entrusted an investment services provider with a mandate for the repurchase.
  • The repurchased shares are intended to be cancelled.
  • The French fashion giant registered a 23% year-on-year revenue growth in FY22 to €79.2 billion.
  • At the General Meeting of Apr. 20, 2023, LVMH will propose a dividend of €12 per share.
  • Also ReadLuxury Goods Company LVMH CEO Bernard Arnault's Daughter Takes Helm Of Christian Dior
  • Price Action: LVMHF shares closed lower by 1.42% at $835 on Tuesday.
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