When we raised the possibility of a breakup of LVMH Moet Hennessy Louis Vuitton SE a year ago, it was more of a PowerPoint idea. Now, cleaving apart the world’s biggest luxury group has moved off the drawing board and into investor discussions.
An extended debate about the best way to achieve a split continues. Whichever method is chosen, it would deliver more than LVMH’s current enterprise value of just under €360 billion ($377 billion). If the company wasn’t controlled by the

