Qatar Holdings, the owner of Harrods, has bought a stake in luxury goods group LVMH.
Qatar Holdings now holds a 1.03% stake in the French luxury goods group, which owns brands including Louis Vuitton and Marc Jacob. LVMH chairman Bernard Arnault and his family’s 46.5% stake in the business remains unaffected.
Last month LVMH posted a 16% increase in revenues for the full-year to December 31, 2011. Overall sales rose 16%, from €20.3bn (£17.1bn) in 2010 to €23.7bn (£19.6bn) in 2011.
Sales within its fashion and leather goods division jumped 15% from €7.58bn (£6.29bn) in 2010 to €8.7bn (£7.2bn) in 2011.