Ticker: MC.PA

Pandora (PNDORA) CEO Alexander Lacik to leave March 2026; CMO Berta de Pablos-Barbier, ex-LVMH, tapped as successor. Shares fell ~3% (down ~37% YTD) amid weak European sales, higher raw-material costs and U.S. tariffs.

Armani's will forces heirs to sell 15% within 18 months and a further stake to reach 30-54.9% in 3-5 years, favouring LVMH, L'Oréal or EssilorLuxottica - or an IPO in Italy. Foundation keeps 30.1%; with Dell'Orco holds 70% voting control.

Morgan Stanley upgrades LVMH to Overweight, citing improved prospects despite challenges ahead. Strong US demand and potential rebounds in China boost optimism, with a target price of €820. Traders should stay cautious amid upcoming risks.