Luxury Giant LVMH Made an Expensive Acquisition of Bulgari
>Bernard Arnault, a Chief Executive Officer of Louis Vuitton Moet Hennessy, will do a major move concerning a crazy takeover plan.
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News that LVMH announced that it will acquire the Italian luxury brand Bulgari offering a price of 1.6 billion on the dollar causes a sensation all over the world.
>France’s Moet Hennessy-Louis Vuitton Group was formed by the merge of a world-famous leather corporation Louis Vuitton and a wine family Moet Hennessy in 1987. LVMH is the world's biggest boutique of over 50 brands and 56000 employees.
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Its major business deals with five segments: Wines & Spirits, Fashion & Leather Goods, Perfumes & Cosmetics, Watches & Jewelry and Selective Retailing.
>LVMH has a long history of the accumulation of the noble profession and the deep traditional and also has unique international well-known brand portfolios. Enterprises producing champagne, spirits and leather products mostly have a history over one hundred years, some of which even have more than two centuries. In the field of perfume, cosmetics and fashion, some companies was founded by the recent time, but have developed a steady international standing within several decades.
>Bulgari family has agreed to sell its 51 percent holdings of the company to LVMH. When the stock market was closed last Friday, Bulgari total capitalization reached 32.2 billion dollars. According to insiders words that LVMH might offer a far higher price than the current share prices.
>LVMH is the world's largest luxury suppliers which now owns more than 60 luxury brands, including familiar Louis Vuitton, Christian Dior, FENDI, Celine, etc. In the fashion industry and luxury industry, it has exerted a very tremendous influence, even Dom Perignon champagne belongs to LVMH.
>By 2010, owing to the benefit from the recovery of global consumer market, growth of LVMH sales reached 19%, amounted to 280 billion dollars. With a history of 127 years, Bulgari takeover will become a LVMH's important jewelry and horological manufacturer.
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