LVMH To Buy Up Bulgari

by Deidre Woollard (RSS feed)
Mar 6th 2011 at 10:01PM

Recently we've been so busy watching the drama as luxury mega-conglomerate LVMH Moët Hennessy Louis Vuitton makes moves on French luxury brand Hermes that we didn't even see them sneaking up on Bulgari. The NY Times reports that LVMH is set to announce on Monday that it is taking control of the luxurious Italian jeweler. According to the NY Times DealBook, Bulgari's founding family is exchange its 51 percent stake in the jeweler to LVMH for stock in LVMH and it will also have seats on LVMH's board. With those shares in place, it's said that LVMH is planning to make offers to acquire the rest of the shares.

LVMH is proving to be an unstoppable luxury juggernaut with over 60 of the world's most prestigious brands in tow including the ones in its name as well as Christian Dior, Fendi and Céline. Other luxury mega-groups include PPR and Richemont. The 127-year-old Bulgari brand is one of the most prestigious names in the jewelry and watches arena and is particularly popular in European and Asian markets. The brand also has several luxury hotels.

Tags: bulgari, bvlgari, lvmh, LVMH Moet Hennessy Louis Vuitton, LvmhMoetHennessyLouisVuitton

Filed under: Jewelry

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Reader Comments (Page 1 of 1)

Johnny Mar 6th 2011 11:06PM

Wow. What a waste of a fine house. Now it'll be another junky LVMH jewelry brand like DeBeers. I would have much rather seen them go to Richemont or Winston.

tlm1941 Mar 8th 2011 8:29AM

Never buy a used boat? This is beyond ridiculous! It is totally normal for a boater to start with a small runabout and, if boating continues to satisfy, move up in stages to where he or she owns a motor yacht or large sailing vessel.
If you bought this article's premise, your $100,000.00 thirty footer would be a disposable item! Total nonsense.