HARRODS owner Qatar Holding LLC has bought a 1.03 per cent stake in luxury conglomerate LVMH.
LVMH chairman Bernard Arnault and his family still holds 46.5 per cent of the company and 62.4 per cent of its voting rights - meaning he still has majority control of corporate policies and decides who sits on its board. All investors are asked to notify LVMH if they make any acquisitions over 1 per cent.
LVMH revenues rose 16 per cent to €23.66 billion (£19.66 billion) last year alone, WWD reports.
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