Liquor firm beats Louis Vuitton maker to be top luxury firm
Chinese liquor firm Kweichow Moutai has topped Louis Vuitton-maker LVMH as the world's most valuable luxury goods firm, according to Bloomberg. The market capitalisation of Moutai, which is also the most valuable liquor company, reached as high as $151 billion on Tuesday edging past LVMH's $149 billion. Notably, 95% of Moutai's sales come from the domestic market.