The 4% drop in Novo Nordisk's share price during the session, combined with the stability of LVMH's share price after its 9% surge yesterday, led the luxury group to regain its scepter as Europe's leading capitalization. At 2:36 pm, Novo weighed the equivalent of $341.3 billion after touching DKK 557.10. LVMH, for its part, was worth $358 billion at the same time, based on a share price of 64 EUR.
Boosted by the worldwide success of its anti-obesity treatments, Novo Nordisk had surpassed LVMH's market capitalization by the end of August 2023. Last year, however, the Danish company had a complicated second half, notably after disappointing clinical results against arch-rival Eli Lilly, and after an outlook deemed too conservative by the market. The share price fell by 10.6% in 2024 and continues to slide in early 2025. By contrast, French luxury group LVMH is coming off a bearish 2024, but rectified the situation at the end of the year, while catching up this week on the back of good figures from its Swiss peer Compagnie Financière Richemont.
No point in running?
Novo Nordisk increased its losses today after rumors that the US would target Ozempic and Wegowy prices in the next round of Medicare negotiations. At the same time, Donald Trump's threats to Denmark over Greenland increased the risk premium on the small Danish stock market.
LVMH Moët Hennessy Louis Vuitton SE is the world leader in luxury products. Net sales break down by family of products as follows:
- fashion and leather items (48.9%): brands such as Louis Vuitton, Kenzo, Celine, Fendi, Marc Jacobs, Givenchy, etc.;
- watches and jewels (12.8%): Bulgari, TAG Heuer, Zenith, Hublot, Chaumet, Fred brands, Tiffany, etc.;
- perfumes and cosmetics products (9.6%): perfumes (Christian Dior, Guerlain, Loewe, Kenzo brands, etc.), makeup products (Make Up For Ever, Guerlain, Acqua di Parma, etc.), etc.;
- wines and spirits (7.7%): champagnes (Moët & Chandon, Mercier, Veuve Clicquot Ponsardin, Dom Pérignon brands, etc.; No. 1 worldwide), wines (Cape Mentelle, Château D'Yquem, etc.), cognacs (mainly Hennessy; No. 1 worldwide), whisky (mainly Glenmorangie), etc.;
The remaining sales (21%) are from selective distribution through the Sephora, DFS, Miami Cruiseline chains and Le Bon Marché and La Samaritaine department stores.
At the end of 2023, products are marketed via a network of 6,097 outlets located throughout the world.
Net sales are distributed geographically as follows: France (7.9%), Europe (16.4%), Japan (7.3%), Asia (30.8%), the United States (25.3%) and other (12.3%).
LVMH 
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