Luxury Giant LVMH Group Buying Bvlgari
LVMH group CEO Bernard Arnott's crazy takeover plan has taken a major move.
French luxury goods giant LVMH announced that it will acquire Italy luxury brand Bvlgari (Bulgari), which is expected to purchase more than $1 billion 600 million.
LVMH
Huge acquisition
Bvlgari
The Bvlgari family has agreed to sell 51% of its Bvlgari stake to LVMH.
As of Friday's close, Bvlgari's total market capitalization was $3 billion 220 million.
According to people familiar with the matter, LVMH's bid may be slightly higher than its current share price.
LVMH is the world's largest luxury goods company, and owns more than 60 luxury brands, including Louis Weedon and Kristen Dior.
Fendi
C et line and so on, have great influence in fashion and luxury industry. Even the champagne champagne is owned by LVMH.
In 2010, with the revival of the global consumer goods market, LVMH's sales grew by 19% to $28 billion.
After 127 years of acquisition, Bvlgari will become an important jewellery and watch maker of LVMH.
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