This morning this news clip appeared on CNBC’s website with the headline:
“Luxury goods giant LVMH becomes the first European company to surpass $500 billion in market value.”
Global-e Co-Founder and CEO Amir Schlachet highlighted some expansion with their already established partnership with LVMH on the Q4 earnings call saying,
> “We also went live with three new LVMH maisons during the quarter, BVLGARI, Chaumet, and Moynat, with several additional maisons already signed up during Q4 and in active integration.”
LVMH became the most valuable company in Europe in 2021 and has about 60 subsidiaries that represent 75 major luxury brands. Their CEO and chairman is Bernard Arnault, currently holding the Forbes title of the “World’s Richest Man.”
I don’t have time to dig today to see what percentage of LVMH brands are currently using Global-e for their transactions. But given the customer bases of the huge brands they hold, adding even one represents a good amount of high-dollar traffic.
The pace of additions of LVMH brands indicated in the GLBE Q4 call indicates that LVMH is happy with what GLBE is providing. And the surge in market value for LVMH would seem to indicate that those like GLBE who partner with them are also doing well. I am expecting a good Q1 report from them.
17% position in GLBE