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LVMH lost its position on Tuesday as Europe's largest luxury company in terms of market capitalization after being overtaken by rival Hermes due to investor pessimism after disappointing first ...

LVMH just delivered a blow to investors in first quarter, reporting a 3% organic revenue decline, including a 5% drop in its largest fashion and leather goods segment.

LVMH, led by Bernard Arnault, lost its title as the world's most valuable luxury company to Hermes after its market capitalization slipped due to a sales miss.