LVMH Louis Vuitton Moet Hennessy ڷμ 60 ְ 귣带 ȸ̴.
츮 ̸ ִ ̺, , , , , ũ ߽, ں, ī ְ мǺ귣 Ӹ ƴ϶ (ڳ), 丮 , () , (), , (), , ũ, ֶ(ȭǰ), ±ȣ̾, Ͻ(ð), (ȭǰ ), DFS(鼼) پ ǰ ְ 귣带 60 ϰ ִ ǻ ִ 귣 (Brand Empire)̴.
ǰ ϴ ü ߿ Ը ־ LVMH ̴. ǰü 2 ġ 3, 3 6踦 Ѿ ðѾ 330 ̸ ִ.
ó LVMH źϱ CEO Ƹ ̾µ ״ M&A лå̶ ĢƷ ϰ 濵 ؿ ִ. LVMH ٷ M&A ؼ ̷µ ȸ ̳ ǰ Ȯ 귣带 귣 ö ȣ ü Ųٴ ߱Ѵ.
̿ LVMH ߾ Ż, Ӱ ü踦 ִ. ߾ȭ Żϰ 귣 ִ ϸ鼭 Ը ռ ϰ ִ. ̳ʿ 濵 ü ý ӿ ȭ ̷絵 ϴ Ϳ ĥ ̰ ģ âǼ ظ ִٴ ĢϿ ּѿ ġ ִ.
<LVMH 귣 ǰ>
LVMH CEO Ƹ ¾ ̱ б濡 ε ƿ 1971 ڳ 귣 (Hennessy) 缭 (Moet Hennessy) âϿ.
1984 Ļ ũ (Christian Dior) λ(Boussac) ȸŲ ι ȾƼ ū . 1987 130 縦 ڶϴ ̺(Louis Vuitton) μ,պ ϸ鼭 LVMH ź״.
ұԸ ֹ ǰ Ƹ տ ϱ Ͽ. 귣带 ռ 뷮 ü ȭ 鼼 Ӹ ƴ϶ 鵵 ֵ ǰ ȭ ̷ ̴.
״ Ϸ귣 M&A ġ ѳ. 1988 33 (Givenchy) μϿ, 1993 23 KENZO μϿ. 1994 ֶ(Guerlain), 1995 FRED, 1996 124 ں(Loewe) 50 Celine, 1997 ũ߽(Marc Jacops), DFS, Sephora մ μϿ. 1999 پȭϿ ȭǰ 귣 Benefit ũ μϿ ð 귣 ±ȣ̾(Tag Heuer), Ͻ(Zenith), 귣 (Chaumet) μϿ.
2000 Ǫġ(Pucci) ȭǰ 귣 Fresh μ Ͽ 2001 ī(Donna Karan) μϿ. 911 Һ ް LVMH 귣 μ ϰ Michael Kors, Hard Candy ͼ 귣带 Spin offϿ.
LVMH ũ 5 η з ִ.
ù° ַι(Wines & Spirits) , 丮, KRUG, 귣带 ϰ ְ, ° м ȭι(Fashion & Leather Goods) , , , , , ں 귣带 ϰ ִ.
° ȭǰι(Perfumes & Cosmetics) , ֶ, , , ũ 귣带 ְ, ° ð ι(Watches & Jewelry)ι ±ȣ̾, Ͻ, , 귣带 ϰ ִ. Ÿ ι(Selective Retailing & others) 鼼 DFSƿ ȭǰ , ֹ̾ ũ ϰ ִ.
<LVMH 귣 Ȳ>
LVMH κк 캸 2006 153 η 10.03% ̷. κкδ ַι 19.49% 13.24% Ͽ, м ȭι 33.99% 8.52% Ͽ, ȭǰ ι 16.40% 10.24% Ͽ, ð ι 4.8% 25.98% Ͽ.
Ÿι 25.33% 6.66% Ͽ. ̷ LVMH 귣 Ŀ ι 弼 ӵǰ Ư ±ȣ̾ ռ ð ι .
* Source : LVMH , : EUR million
37%, ̱ 26%, ƽþư 30%, Ÿ 7% ۷ι μ ø Ư ߱, ε ߷ ƽþƽ ȴ. ü ƽþƽ 30% ϰ м ȭι 50% Ѿ ִ.
* Source : LVMH
귣 Ŀ ռ ǰϽ Ư ΰġ âɷ پ BM ε ұϰ 20% OP ϰ NET 15% ϰ ִ.
ι ͷ ַι 29.18%, м ȭι 49.53%, ȭǰ ι 6.73%, ð ι 2.43%, Ÿ ι 12.13% ϰ ִ. 33.99% ū м ȭκ ͷ 49.53% 50% Ѵٴ ̴.
̷ ̺ ռ м ȭι LVMH ٽɻ(Killer Business) ijīμ ϰ ִµ ̿ ƽþ Ǹŷ Ѵٰ ִ. ̴ Ϻ,ѱ,ȫ ǸŵǴ ǰ ̳ ̱ ǸŵǴ ǰ ξ ݿ Ǹŵǰ ִٰ Ѵ.
̴ Һȭ Ư ִµ ƽþŭ ȿ(Veblen Effect) ϰ Ÿ ٰ Ѵ. ȿ ұϰ ÿ̳ 㿵 䰡 þ ǹѴ. Ư ߱ ¦ǰ ̾ ¦ǰ ܼ̳ Һ ν ̷ٸ 强 ȴ.
* Source : LVMH
귣 LVMH Ǽϴµ CEO Ƹ ̾. ̱ н ýø µ ýñ簡 ̸ ڸ ˰ ִ 귣 ߿伺 ݰ 귣 M&A Ͽٰ Ѵ.
װ μ κ 귣 ū ̷ Ƴ, ũ ߽ ̳ʰ տ źϿ. ֱ ״ ̻ 귣 μ ʰڴٸ 귣 ȭ ּ ϰڴٰ Ͽ. ״ LVMH ۳ ȣ 7 ũǾ.
<CEO Ƹ>
<ȣ>
<LVMH б>
* Source : LVMH
<LVMH ְ>
LVMH ְ 83η PER 21.28, PBR 3.41迡 ŷǰ ִµ 귣 ġ ι ġ, 强, 丮 鿡 ұϰ ֱ CAC40 ϴ ̴. M&A ִ ǰ 귣 Ǽ LVMH ȭ 밨 ҷ Ų.
ͷ 峭ƴϳ. ϰ ̳
~~
л̳ 忩̳ ܸ ̳
ϳ ִ.
ǰ ̳ θ ȣϸ , Ѵ.
κ ǰ ǰ̴.
˰ κ ǰ ϳ ȸ Ʒ ִٴ
ȴٸ ̴.
Ʒ Ұϴ ȸ 츮 ȸ ƴϴ.
翬 ȸ̸ ô η. ̷ 츮 ִٸ
ִ ε..
ֳı? . ģ
ǰ ϰ , װ ġ 뺯 ִ Ȱ ϴ
귣 = ġ 츮 ִٸ ϴ .
URL : http://blog.naver.com/smjhoon
ѱ ̷ ϴ ٷԴϴ...^^