LVMH washed its hands of the faux pas, claiming this week that Chaumet merely designed the medals.

Jean Arnault, director of Louis Vuitton’s watch division, has to contend with a tough luxury market and stubborn young consumers.

LVMH, which is controlled by the family of multibillionaire Bernard Arnault, was a major sponsor of the Summer Games in Paris.

The medals were designed by a jewelry maker owned by the French luxury conglomerate, which has declined to comment on their deterioration.

Novo Nordisk has faced a massive selloff in recent months amid disappointing drug trials and U.S. pressure to cut its prices.

As the Paris Olympic medals are embroiled in controversy over discoloration and corrosion issues, criticism against French luxury conglomerate Louis Vuitton Moët Hennessy (LVMH) is intensifying. The Olympic medals,

The rest of the top ten largest companies in Europe by market cap include ASML ( ASML ), SAP SE ( SAP ), Hermès International ( OTCPK:HESAY ), Roche Holding AG ( OTCQX:RHHBY ), Accenture plc ( ACN ), Nestlé S.A ( OTCPK:NSRGY ), AstraZeneca PLC ( AZN ), and Novartis AG ( NVS ).

LVMH said on Tuesday it was "impossible" to control the final destination of products sold by third-party distributors after a report said the French luxury group's champagne reached Russia even after it halted business there.

The Swiss luxury watchmaker has released five new timepieces in the TAG Heuer Formula 1 collection – four chronographs and the TAG Heuer Formula 1 Chronograph x Oracle Red Bull Racing – establishing an iconic throwback as the first collection to bear the TAG Heuer name in 1986.

For his latest Vuitton collection, Pharrell Williams tapped his best bud Nigo to be co-creative director. And Bernard Arnault made it back from the Trump inauguration to see it.

On Tuesday evening of Paris Fashion Week, the menswear set made the now-traditional pilgrimage from Auralee’s temple of elegance and grace to the Louis Vuitton Men’s show. The back-to-back is usually cause for whiplash.