Fashion Lover reports the LVMH-Bulgari $6billion deal.
“Nor John Galliano’s firing from Dior, neither LVMH attempt to invest in Hermès fiasco won’t stop LVMH’s Bernard Arnault doing business as usual, expanding his luxury kingdom.
In a transaction totaling at $6.01 billion, LVMH acquired a 50.4 percent stake in the Italian jewelry brand Bulgari. Also a family owned company, the Bulgari clan, unlike Hermès, welcomed the LVMH deal, realizing the growth potential for the brand.
The deal, in fact, works out perfectly for both parties – significantly increasing LVMH’s jewelry division and giving Bulgari capital and means to expand it’s product categories. Despite starting out as a jeweler, Bulgari now also has handbags and just a few weeks ago announced a new fragrance Mon Jasmin Noir.”
Full story on Fashionlvr.com.