Luxury goods brand Moët Hennessy Louis Vuitton (LVMH) has launched an employee share plan for 70% of its global workforce.
The scheme, LVMH Shares, will run in 11 locations in Europe, North America and Asia. Eligible employees will receive a matching contribution of shares.
They will also receive a 20% on the share subscription price, will be equal to the opening price of LVMH shares on the Euronext market.
The scheme will involve 200,000 newly issued shares and the subscription period will run from 24 October to 13 November.
The aim of the scheme is to involve all employees in the group’s developments and show appreciation for their work and commitment.
Chantal Gaemperle, group executive vice president human resources and synergies at LVMH, said: “LVMH Shares is aptly named: this sharing programme is aimed at all employees indiscriminately and reflects the group’s desire to work together over the long term. This inclusive plan recognises everyone’s contribution and talent because we are convinced that, at LVMH, it is the men and women who make all the difference. LVMH Shares is yet another example of this.”
