TIVP027: LVMH (MC): Investing in True Luxury w/ Shawn O’Malley & Daniel Mahncke

In this episode of the Intrinsic Value Podcast, Shawn O’Malley and Daniel Mahncke discuss LVMH (Louis Vuitton Moët Hennessy), a multinational luxury goods conglomerate. Shawn makes the case for LVMH, detailing its history, brands, and the influence of Bernard Arnault, often called the "wolf of cashmere," in building the luxury empire. They define "true luxury" and explore LVMH's business segments, including wine and spirits, fashion and leather goods, perfumes and cosmetics, and watches and jewelry. The discussion covers LVMH's growth strategy, pricing power, and the importance of brand heritage, as well as potential risks such as succession planning and economic factors. They also touch upon the company's presence in China and the potential impact of tariffs, and analyze LVMH's valuation compared to its peers, concluding with an assessment of its intrinsic value and whether it deserves a place in their portfolio.