Louis Vuitton Owner Emerges as ESG Magnet With $17 Billion Stake

The world’s biggest producer of luxury goods has emerged as a favorite among fund managers marketing themselves as promoters of environmental and social goals.

More than 1,200 ESG funds now hold shares of LVMH Moet Hennessy Louis Vuitton SE, according to data compiled by Bloomberg. Roughly 500 more are indirectly exposed to the luxury behemoth, the data show. That puts LVMH well ahead of more traditional green names such as Vestas Wind Systems A/S and Tesla Inc. on the list of preferred ESG stocks.

The funds, which claim either to “promote” environmental, social and good governance principles, make ESG ...