LVMH's luxury empire continues to grow

LVMH Moët Hennessy Louis Vuitton has been called "recession-proof" as the luxury giant acquires brands and retailers such as Tiffany & Co. with solid long-term prospects. "When he (LVMH CEO Bernard Arnault) talks about potential acquisitions, he's not looking for the brand that's hot right now. He's looking for a brand that he thinks can be here 100 years from now," said Anish Melwani, chairman and CEO of LVMH for North America.