After Half A Year, It Turned Out To Be A Fake - LVMH Group Denied That It Had To Buy Chanel.

Chanel also refuted this speculation.

Source: Retail News Asia

"Bernard Arnault is meeting with the Wertheimer family of Chanel holders to try to buy Chanel."

At the end of last year, when the French media reported so much, LVMH's chairman and chief CEO Bernard Arnault denied the rumor for the first time at the annual shareholders' meeting held in Paris in April 12th.

"I don't know who spread the news about the acquisition of Chanel by LVMH, but I can make it clear that this is a false news."

Bernard Arnault explains, "the group has never had any contact with Chanel on the acquisition issue. It is an excellent company and is still an independent presence in the fashion industry."

In addition, he also said that last year's revenue broke through 40 billion euros for the first time last year, bringing the German luggage brand Rimowa and luxury brand Dior fashion business to a new level.

And there have been few pairs.

Chanel, who responded to the rumors, also issued the same response later. "We are sure that Chanel will not be sold. These hearsay is totally unfounded."

Chanel chief financial officer Philippe Blondiaux said in a statement.

The news that LVMH will be pferred to Chanel may be related to the failure of the group's acquisition of Herm s.

In October 2010, LVMH revealed that the group obtained 17.1% of Hermes's shares through cash settled stock trading and unexpectedly avoided all kinds of legal procedures adopted by general companies to declare stock purchases.

In the next few years, LVMH impolitely raised its shareholding to 23.2%.

Herm s

However, the acquisition led to the investigation of the French stock market regulators and legal disputes between the two companies. Finally, the two companies signed a truce agreement in 2014, and LVMH allocated all its Herm s shares to its shareholders.

However, according to the first quarter of LVMH released just as of March 31st

LVMH sales rose 10% to 10 billion 850 million euros, far above analysts' estimates of 8.5%.

Among them, the group is the most important.

Department sales increased by 25% to 4 billion 270 million euros, Dior

The Department also made a great contribution to the growth of sales volume.

In addition, its most famous brand, Louis Vuitton, is also frequent in recent years.

From last year's cross-border cooperation with Supreme to the appointment of Virgil Abloh, founder of Chao brand Off-white

Creative director, it is not difficult to see that LVMH has begun to plan for the younger generation of consumers to brand adjustment, and facts have proved that these adjustments still have a very high degree of topic.