The owner of Louis Vuitton and Dior lost its position on Tuesday as Europe’s largest luxury company in terms of market capitalization after being overtaken by Hermès.

Le Bon Marché chairman and chief executive officer Patrice Wagner has been named head of the new governance structure, following LVMH's acquisition of la Samaritaine from DFS.

DFS was once again held back by prevailing international conditions, with revenue still reflecting low traffic in Hong Kong and Macau.

PARIS — LVMH Moët Hennessy Louis Vuitton has created a new governance structure reuniting its ... Catherine Newey “This new organization illustrates the importance that LVMH attaches to ...