LVMH Moët Hennessy Louis Vuitton SE

LVMH, the Paris-based empire controlled by Bernard Arnault, is the world's largest luxury group, home to some seventy-five houses including Louis Vuitton, Dior, Tiffany, Moët & Chandon and Hennessy. Its scale, pricing power and portfolio of desirable brands make it the benchmark for the entire luxury industry, though demand swings with the fortunes of wealthy consumers, above all in China. For investors LVMH pairs long-term growth with a steadily rising dividend, funded by strong cash generation. The yield is modest because the shares carry a premium, so the appeal is dependable dividend growth from the dominant name in luxury rather than a high current payout.