LVMH (short for Louis Vuitton Moët Hennessy) is the world’s largest luxury conglomerate, generating over $95.23 billion in revenue as of 2024, with a market capitalization exceeding $341 billion. The Group has 75 prestigious brands, including Louis Vuitton, Dior, and Tiffany & Co, dominating the global luxury market.
Yet even this powerhouse faces fierce competition. Rival luxury groups, from Kering to Richemont, are aggressively expanding their influence, acquiring heritage brands and leveraging digital innovations to attract high-end customers. Meanwhile, independent icons like Chanel and Hermès continue to carve out their own space with exclusivity-driven strategies and impressive profit margins.
Below, I highlight the top LVMH competitors and alternatives, analyzing their strengths, market positions, and how they challenge the world’s biggest luxury empire. Each company has its own design philosophy and craftsmanship approach.
Did you know?In 2023, LVMH became the first European company to surpass a valuation of $500 billion. The Arnault family, through Christian Dior SE, owns 48.6% of LVMH’s shares and holds 64.33% of the voting rights. [1]
Table of Contents
16. Giorgio Armani
Founded: 1975Country: Italy
Total Subsidiaries: 4+
Revenue: $2.65 billion (2023)
Competitive Edge: A broader luxury footprint
Founded in 1975, Giorgio Armani has built a global empire spanning fashion, accessories, fragrances, eyewear, and even luxury hotels. Its strength lies in sophisticated, minimalist designs that appeal to refined luxury consumers.
The company employs a hybrid business model that combines direct sales with strategic licensing agreements. Armani licenses its brand to select manufacturers for products such as eyewear, watches, cosmetics, and perfumes, thereby expanding its market presence while maintaining stringent quality control.
In 2024, Armani inaugurated a new 12-floor building on Madison Avenue in New York, encompassing boutiques, a forthcoming restaurant, and luxury residences. The brand is also advancing its sustainability initiatives by incorporating vegan leather, organic fabrics, and actively reducing carbon emissions in production.
15. Burberry
Founded: 1856Country: UK
Revenue: $3.83 billion
Competitive Edge: British heritage & iconic status
Burberry is famous for its trench coats, checkered patterns, and modern British elegance. It leverages its British roots and long history to maintain exclusivity and luxury appeal. No LVMH brand dominates the luxury outerwear space like Burberry does.
Burberry operates a vertically integrated business model, overseeing design, production, and distribution to maintain quality and brand integrity. It reaches its clientele through directly operated retail stores, a significant e-commerce platform, and select wholesale partnerships. As of Jan 2025, it had more than 422 stores worldwide.
Burberry is expanding its store presence in North America and Asia to compete with LVMH’s Louis Vuitton and Dior. Plus, it is investing heavily in high-end sneakers and formal footwear, positioning itself against Gucci, Prada, and Louis Vuitton in the luxury footwear market. As part of its sustainability strategy, Burberry aims to become a fully carbon-neutral luxury brand by 2040. [2]
14. Dolce & Gabbana
Founded: 1985Country: Italy
Revenue: $2.04 billion
Competitive Edge: Made-in-Italy excellence
Dolce & Gabbana is famous for its opulent designs, bold aesthetics, and Mediterranean-inspired luxury. While it does not match LVMH’s scale, the company competes in high-end apparel, luxury accessories, and haute couture, going head-to-head with brands like Louis Vuitton, Dior, and Givenchy.
In FY 2024, Dolce & Gabbana generated about €1.87 billion in revenue, reflecting a 17% year-on-year increase. The US market contributed 28% of the company’s turnover. This growth was fueled by substantial investments in expanding its retail network and integrating its beauty division. However, these investments also resulted in an operating loss of €13 million, up from a €1 million loss the previous year. [3]
To enhance brand coherence and profitability, Dolce & Gabbana has shifted from licensing agreements to directly managing its beauty division. The brand established a new company to oversee the development, production, and sale of perfumes and cosmetics. Plus, it has opened flagship stores in Dubai, Shanghai, and Hong Kong, further strengthening its presence in emerging luxury markets.
13. Rolex
Country: Switzerland
Total Subsidiaries: 2
Revenue: $11.23 billion(2023)
Competitive Edge: Higher resale & investment value
Rolex is one of the world’s most prestigious luxury watch brands known for its precision, durability, and timeless design. It has a rich history of technological innovations, including the first waterproof watch (Oyster), self-winding movement (Perpetual), and deep-sea diving watches.
It’s a privately owned, independent company with strict control over its production and supply. Unlike LVMH’s multi-brand strategy, Rolex maintains full control over watchmaking, from designing movements to assembling components. It dominates the luxury watch industry, often outperforming LVMH’s watch division in terms of desirability and resale value.
Rolex focuses on classic designs that hold value over time, appealing to collectors, professionals, and status-driven consumers. The brand maintains exclusivity by selling only through authorized dealers, avoiding online sales and discounting.
In 2023, Rolex acquired Bucherer, a leading luxury watch retailer in Switzerland, to strengthen its retail presence and distribution network. That same year, the company produced approximately 1.24 million timepieces. [4]
12. Salvatore Ferragamo
Founded: 1927Country: Italy
Revenue: $1.22 billion
Competitive Edge: Strong Asian market presence
Salvatore Ferragamo focuses on handcrafted shoes and leather accessories, competing with LVMH’s Louis Vuitton, Fendi, Berluti, and Christian Dior in the luxury footwear and leather goods segment. All Ferragamo products emphasize Italian craftsmanship, heritage, and high-quality materials.
Approximately 75% of Ferragamo’s revenue comes from its own stores and online platforms, allowing the brand to maintain control over its image while ensuring high margins.
In 2024, Ferragamo reported revenues of €1.04 billion, reflecting an 8.2% decline from the previous year. This downturn was largely driven by weakened demand in the Asia-Pacific region, particularly in mainland China, alongside challenges in the wholesale sector.
Ferragamo has collaborated with Zendaya, BTS’s Jimin, and other fashion icons to appeal to younger consumers and refresh its brand image. The company is also a leader in eco-friendly materials and ethical leather sourcing, setting it apart from larger luxury groups. As part of its sustainability initiatives, Ferragamo aims to achieve 100% renewable energy across all corporate locations worldwide by 2029. [5]
11. Tapestry
Founded: 2000Country: United States
Total Subsidiaries: 3+
Revenue: $6.67 billion
Competitive Edge: Coach’s strong global brand
Tapestry is a leading US-based luxury fashion conglomerate, owning Coach, Kate Spade, and Stuart Weitzman. Its portfolio spans premium handbags, fashion, accessories, and footwear, targeting the affordable luxury segment. Competing with LVMH’s Louis Vuitton, Fendi, and Givenchy at a lower price point, Tapestry appeals to consumers seeking high-quality luxury at a more accessible price.
In August 2023, Tapestry announced an $8.5 billion acquisition of Capri Holdings, aiming to create a US-based luxury conglomerate to rival European giants. However, in October 2024, a federal judge blocked the merger due to antitrust concerns, citing potential reductions in competition and increased prices in the accessible luxury handbag market.
Despite this setback, the company reported $6.6 billion in revenue in FY 2024, with gross margins of 73.3%. Coach remains the largest contributor, accounting for 76.4% of total net sales, followed by Kate Spade at 20%, and Stuart Weitzman at 3.6%. [6]
10. Capri Holdings
Founded: 1981Country: UK, US
Total Subsidiaries: 3+
Revenue: $5.17 billion
Competitive Edge: Affordable luxury market leadership
Capri Holdings owns famous brands like Michael Kors, Versace, and Jimmy Choo. It operates through both retail and wholesale channels, including directly operated stores, e-commerce platforms, and partnerships with select department stores and specialty retailers.
Michael Kors is the largest revenue driver for Capri Holdings, contributing approximately 68% of the company’s total revenue. Versace accounts for 20%, while Jimmy Choo contributes 12%. [7]
Unlike LVMH, which focuses on ultra-luxury, Capri brands offer a mix of premium and affordable luxury, appealing to a wider audience. Its competitive strategy revolves around acquiring premium brands, expanding its direct-to-consumer business, and increasing global reach—especially in Asia.
9. Moncler
Founded: 1952Country: Italy
Total Subsidiaries: 50+
Revenue: $3.26 billion
Competitive Edge: Focuses solely on high-end outerwear
Moncler is primarily known for its high-end winter jackets and outerwear, but it is expanding its presence in luxury sportswear and casual fashion. The company prioritizes flagship stores and direct e-commerce sales, ensuring strong brand control and premium pricing.
Initiatives like the Moncler Genius project, launched in 2018, involve collaborations with various designers (like Palm Angels, Rick Owens, and Valentino) to reinterpret the brand’s identity and appeal to a broader audience.
In 2021, Moncler acquired a 70% stake in Stone Island for €1.15 billion, reinforcing its expansion into the streetwear and luxury casualwear segment. The company is also aggressively growing in China and the US, positioning itself as a direct competitor to LVMH’s luxury brands. [8]
Moncler is heavily investing in sustainability and circular fashion, launching a down jacket recycling program and incorporating sustainable, bio-based materials into its collections. Plus, it has entered the digital luxury space with NFT collections and virtual clothing lines to engage digital-first luxury consumers.
8. Prada Group
Country: Italy
Total Subsidiaries: 6
Revenue: $5.07 billion
Competitive Edge: 100% Italian-made production
Founded in 1913, Prada has grown into a global luxury empire with multiple brands under its umbrella, including Prada, Miu Miu, Church’s, Car Shoe, and Marchesi 1824. The Group is renowned for its minimalist aesthetic, cutting-edge fashion, and strong brand identity.
The Prada Group upholds Italian artisanal craftsmanship, with the majority of its leather goods and apparel produced in Italy. Prada remains its flagship brand, contributing over 83% of the company’s total revenue.
In the first nine months of 2024, the Group reported net revenues of €3.83 billion, reflecting an 18% year-over-year increase. This growth was largely fueled by Miu Miu, which experienced a remarkable 97% surge in retail sales compared to the previous year. [9]
Unlike LVMH, Prada Group avoids excessive third-party retail and prioritizes brand-owned boutiques and e-commerce platforms. In 2024, the group announced plans to expand Miu Miu’s presence by increasing store sizes and opening new locations.
7. Swatch Group
Founded: 1983Country: Switzerland
Total Subsidiaries: 16
Revenue: $7.7 billion (2024)
Competitive Edge: World’s largest watchmaking group
Swatch Group was formed through the merger of ASUAG and SSIH, two major Swiss watch groups. Today, it controls a significant portion of the global watch industry, owning iconic brands like Omega, Breguet, Longines, and Blancpain, while also dominating the mass-market with Swatch and Tissot.
As of 2023, the Swatch Group held a 19.4% market share in the Swiss watch industry, generating an annual revenue of CHF 7.89 billion. It directly competes with LVMH’s watch division, which includes TAG Heuer, Hublot, and Zenith. Omega remains LVMH’s strongest competitor, consistently outperforming TAG Heuer, while Longines and Tissot dominate the mid-range segment with a vast consumer base. [10]
The group controls watch movements, case production, dials, and assembly, reducing reliance on external suppliers. It pioneers high-tech materials, anti-magnetic movements, and smartwatches. Plus, it supplies movements and components to third-party watchmakers, further solidifying its position in the industry.
6. Chanel
Founded: 1910Country: France
Revenue: $19.7 billion
Competitive Edge: Price control & No shareholder pressure
Chanel is famous for its high-end fashion, iconic fragrances, fine jewelry, and leather goods. It has revolutionized women’s fashion with minimalist yet elegant designs, including the Little Black Dress, Chanel No. 5, and the classic tweed suit.
The company focuses on exclusivity, craftsmanship, and heritage, keeping prices high and never offering discounts. Chanel’s products, particularly the No. 5 Perfume and Classic Flap Bag, retain their appeal for decades, ensuring strong resale value and repeat customers.
Unlike LVMH, Chanel remains privately owned by the Wertheimer family, granting it complete creative and financial control. This ownership structure enables the brand to preserve its exclusivity, artistic independence, and command premium pricing. For example, Chanel consistently increases the price of its iconic Classic Flap Bag, which now exceeds $10,000—double its 2015 price of $5,000.
The company is moving further into high jewelry, watches, and private couture experiences. It is also investing heavily in eco-friendly materials, cruelty-free beauty, and low-impact manufacturing. [11]
5. L’Oréal Group
Founded: 1909Country: France
Total Subsidiaries: 37+
Revenue: $45.52 billion
Competitive Edge: Scientific leadership & dermatology expertise
L’Oréal is the largest beauty company in the world, with a market share of 13.7%. It dominates the cosmetics, skincare, haircare, and fragrance markets. With operations in 150+ countries, the company competes directly with LVMH’s beauty divisions, particularly Dior Beauty, Givenchy Beauty, and Guerlain.
L’Oréal employes a strong digital and e-commerce strategy. It leads in AI-powered virtual try-ons, skin analysis tech, and personalized beauty algorithms. Currently, they are focusing on customized skincare formulations based on AI-driven diagnostics.
The company heavily invests in R&D, leading scientific advancements in skin and hair technology. In 2023, it allocated approximately €1.29 billion to R&D, representing 3% of its total revenue. Plus, the company is pushing towards carbon-neutral operations and 100% recyclable packaging across all brands by 2030. [12]
4. The Estée Lauder Companies
Country: United States
Total Subsidiaries: 20+
Revenue: $15.45 billion
Competitive Edge: Stronger Skincare Portfolio
The Estée Lauder Companies revolutionized the beauty industry by introducing prestige skincare, makeup, and fragrance products to department stores. Today, it operates more than 20 brands across different price segments, from ultra-luxury to mass-premium.
The skincare segment accounts for over 55% of Estée Lauder’s revenue. Its high-end brands like La Mer and Estée Lauder Advanced Night Repair outperform LVMH’s skincare division. Their products are sold worldwide through high-end department stores, specialty retailers, travel retail (duty-free), and online platforms.
The company invests heavily in cutting-edge skincare and makeup technology, leveraging scientific research, dermatological advancements, and AI-driven personalization. In FY 2024, it spent nearly $360 million on research and development. [13]
3. Hermès
Founded: 1837Country: France
Total Subsidiaries: 1 (independent)
Revenue: $14.84 billion
Competitive Edge: Highly exclusive, limited-supply model
Hermès started as a high-end harness and saddle maker before evolving into a global luxury giant. It is majority controlled by the Hermès family (who collectively owns over 65%), allowing it to prioritize heritage, craftsmanship, and exclusivity over-aggressive expansion.
The company is known for its iconic Birkin and Kelly handbags, ultra-luxury silk scarves, and high-end leather goods. has consistently maintained high desirability and scarcity. Hermès strictly avoids mass production and discounting, a strategy that reinforces its prestige, exceptional craftsmanship, and strong resale value. This approach has cemented its position as a key competitor to LVMH in the luxury market.
Due to its ultra-premium positioning, Hermès enjoys some of the highest profit margins in the luxury industry, often surpassing 43% in operating profit. Its iconic Birkin Bag is the world’s most exclusive handbag, with rare editions fetching over $400,000 on the resale market. Similarly, the Kelly Bag—named after Grace Kelly—commands immense demand and exclusivity. [14]
2. Richemont
Founded: 1988Country: Switzerland
Total Subsidiaries: 10+
Revenue: $21.49 billion
Competitive Edge: Dominance in watches & jewelry
Richemont is the second-largest luxury group in the world by market capitalization, behind LVMH, and is particularly strong in watches and jewelry, with brands like Cartier, Jaeger-LeCoultre, and Van Cleef & Arpels.
Unlike LVMH and Kering, which have strong portfolios in fashion, Richemont dominates the hard luxury segment, focusing on watches, fine jewelry, and accessories rather than apparel or fragrances.
In 2024, the Group’s jewelry segment generated €10.7 billion in revenue, while its watch segment contributed approximately €7 billion. Iconic brands brands like Cartier and Vacheron Constantin, have centuries-old legacies, giving them a strong edge in heritage luxury. [15]
Richemont controls a large portion of its sales via its own boutiques and e-commerce, ensuring higher profit margins. It has a strong focus on responsible sourcing, particularly in conflict-free diamonds, sustainable gold, and ethical watchmaking practices.
1. Kering
Country: France
Total Subsidiaries: 10+
Revenue: $21.62 billion
Competitive Edge: Focuses exclusively on high-end fashion
Kering is one of the world’s leading luxury fashion conglomerates, focusing exclusively on high-end fashion, leather goods, jewelry, and eyewear. It owns some of the most prestigious fashion houses, including Gucci, Balenciaga, Saint Laurent, Alexander McQueen, and Bottega Veneta.
Gucci is Kering’s flagship brand and biggest revenue generator, contributing over 40% of total revenue. Saint Laurent is famous for leather jackets and Parisian elegance. Kering’s luxury jewelry brands, Pomellato & Qeelin, compete with LVMH’s Bulgari and Tiffany & Co.
Unlike LVMH, which is highly diversified across multiple luxury segments, Kering has a laser-focused approach to fashion and accessories. Its brands emphasize direct online sales, personalized shopping experiences, and digital marketing.
In 2023, Kering launched Kering Beauté to develop beauty products for its brands and acquired the fragrance company Creed, expanding its presence in the luxury fragrance market. It also acquired a 30% stake in Valentino, with an option to purchase the entire company by 2028, reinforcing its strategy to strengthen its luxury brand portfolio. [16]
Furthermore, Kering aims for 100% traceable raw materials, eco-friendly production, and reduced environmental impact across all brands, which gives it a competitive advantage among environmentally conscious luxury consumers.
Read More
- LVMH SWOT Analysis [Detailed View]
- 14 Most Expensive Watch Brands In The World
- 17 Nike Competitors That You Should Know About
- Laure Guilbault, Frédéric and Alexandre Arnault join the LVMH board, Vogue Business
- News, Burberry to be climate positive by 2040, Burberry
- Business, Dolce&Gabbana CEO ready to open capital to new investors, Reuters
- Anthony DeMarco, Rolex To acquire watch retailer Bucherer, Forbes
- Sustainability Report, Climate commitments and climate transition plans, Salvatore Ferragamo
- Tapestry, Company’s revenue and gross margins, FTC
- Fashion & Accessories, Revenue share of Capri Holdings by brands, Statista
- Jesper Chin, Moncler agrees to acquire Stone Island for €1.15 billion, DUFS
- Press Release, Prada Group continues to deliver solid performance with retails sales up 18% YoY, Prada Group
- Fashion & Accessories, Market share of the leading Swiss watch companies worldwide, Statista
- Laure Guilbault, A to-do list for Chanel’s next artistic director, Vogue Business
- Cosmetics & Personal Care, R&D expenditure of L’Oréal worldwide, Statista
- Health & Hygiene, R&D expenses of Estée Lauder worldwide, Statista
- Company Highlights, Operating margin for Hermès, CompaniesMarketCap
- Apparel & Shoes, Sales of the Richemont Group worldwide by product line, Statista
- News, Kering completes the acquisition of a 30% shareholding in Valentino, Kering
