LVMH Moët Hennessy Louis Vuitton (French pronunciation: ​[moɛt‿ɛnɛsi lwi vɥitɔ̃]), commonly known as LVMH, is a French holding multinational corporation and conglomerate specializing in luxury goods, headquartered in Paris, France. The company was formed in 1987 through the merger of fashion house Louis Vuitton (founded in 1854) with Moët Hennessy, which was established after the 1971 merger between the champagne producer Moët & Chandon (founded in 1743) and the cognac producer Hennessy (founded in 1765). In 2021 with a valuation of $329 billion, LVMH became the most valuable company in Europe. LVMH controls around 60 subsidiaries that each manage a small number of prestigious brands, 75 in total. These include Christian Dior, Givenchy, Marc Jacobs, Stella McCartney, Loro Piana, Kenzo, Celine, Fenty, Princess Yachts, and Bulgari. The subsidiaries are often managed independently, under the umbrellas of six branches: Fashion Group, Wines and Spirits, Perfumes and Cosmetics, Watches and Jewelry, Selective Distribution, and Other Activities. The oldest of the LVMH brands is wine producer Château d'Yquem, which dates its origins back to 1593.