If you were asked to consider what might be Europe’s most valuable company, your mind might wander over some German industrial powerhouse, maybe a financial services giant or a purveyor of hi-tech weaponry to Middle Eastern autocracies with more oil money than friends.
But all those thoughts can rapidly be returned to the box as the gong in question goes to LVMH, the French luxury goods giant whose aggressively priced and heavily branded handbags, scarves and hooch are the main prize for every aspirant consumer in Guangzhou...
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