LVMH reschedules annual shareholders' meeting to June 30

By

Gabriella Lacombe

Published
Mar 26, 2020

As the Covid-19 pandemic continues to impact business, consumer spending and events within the fashion industry, LVMH - the world's largest luxury goods group - has postponed its annual shareholders' meeting until the end of June. 

The meeting was originally scheduled for April 16. 

"Given the current situation, the LVMH Board, which met today, has decided to postpone the Annual Shareholders’ Meeting from the initial scheduled date of April 16th, 2020 to June 30th, 2020," the group said in an official statement.

"A press release will be issued at a later date informing shareholders of the arrangements for this Annual Shareholders’ Meeting and the payment of the dividend."

Last week, the company - which owns brands including Louis Vuitton, Bulgari, Hennessy, Moët & Chandon, Fendi, Givenchy, Céline and more - announced that is helping its native France during the outbreak by ordering 40 million health masks to the country from a Chinese supplier, and temporarily repurposing three of its perfume and cosmetics sites to produce hand sanitizer for French hospitals. 

With the virus disrupting business as usual, several other companies have altered their annual shareholder meetings. Earlier this month, Amazon, Target and L’Oréal all announced plans to take their respetive AGM and investor meetings online, while Adidas postponed its AGM until a yet-to-be-announced date later this year.