LVMH buys stake in German luggage maker Rimowa October 4, 2016 French luxury giant LVMH, the owner of brands including Moet and Louis Vuitton, is buying an 80 per cent stake in German luggage maker Rimowa. Dieter Morszeck, grandson of the founder of Rimowa, is selling the majority stake in his family's company but will hold onto a leadership role as Rimowa becomes the German arm of LVMH. Rimowa is [...]
The knives were out for Baselworld, but nothing could detract from the scintillating creativity on show May 1, 2018 The rickety tram ride from Basel’s Old Town to Messeplatz, or ‘Exhibition Square’, is a curious tableau. Medieval quaintness and winding streets quickly yield to the mighty Rhine, with the chimneys of Big Pharma spiking its banks in the distance. Over the river, the urbanity picks up again, but with city-limits mundanity and red-light seediness. [...]
Ranked: The world’s best performing chief executives of 2017 as Inditex’s Pablo Isla and WPP’s Martin Sorrell take the top spots | City A.M. October 24, 2017 The boss of Zara’s parent firm Inditex, Pablo Isla, has been named the best-performing chief executive in the world for 2017, by the Harvard Business Review. The Spanish businessman, who ranked third last year, took the top spot for the first time, over WPP’s Sir Martin Sorrell. Since becoming chief executive in 2005, Isla has [...]
L Catterton to take £15m stake in Scottish craft brewer Innis & Gunn September 6, 2017 Scottish craft brewer Innis & Gunn has got the backing of one of the world’s largest consumer investment groups L Catterton in a deal which gives the company an estimated value of about £58m. L Catterton, the merger between luxury goods giant LVMH and private equity firm Catterton Partners, is set to take a 27.9 [...]
Louis Vuitton and Moet & Chandon owner reveals 2016 was a vintage year January 26, 2017 While last year might not have been everyone's favourite 12 months, luxury brand owner LVMH revealed "an excellent performance in 2016", posting solid revenue and cashflow growth. The owner of a variety of posh labels including Louis Vuitton and Christian Dior said organic revenue growth during 2016 was six per cent with sales totalling €37.6bn (£31.9m). Read [...]
Playing the long game: an interview with Chapel Down CEO Frazer Thompson and the UK Investor Show’s Nigel Wray October 16, 2017 Back in 2004, England was considered rather better at playing rugby than it was at producing wine, basking in the afterglow of the national team’s world cup win six months earlier. It was around this time that a mutual contact put Nigel Wray, the owner of Saracens rugby club, in touch with Frazer Thompson, a [...]
LVMH strikes surprise pose as it sells Donna Karan International fashion brand for $650m to G-III Apparel Group July 25, 2016 Luxury conglomerate LVMH has agreed to sell Donna Karan International for $650m (£496m) to American fashion licensing and manufacturing group G-III Apparel Group. The sale of Donna Karan International, which is the parent company of the DKNY and Donna Karan brands, is expected to close in late 2016 or early 2017. It comes a year [...]
LVMH revenue inches up for first quarter of 2016, with perfume and cosmetics in hot demand but fashion falling flat April 11, 2016 Luxury goods company LVMH reported that revenues had edged up in its first quarter of 2016, although sales of its fashion and leather goods had failed to budge. The company reported total revenues of €8.6bn (£6.9bn) for its first quarter of 2016, up just four per cent compared with €8.3bn the year before. Sales across all categories grew [...]
LVMH bucks bad trend in luxury goods market February 2, 2016 LVMH said today that strength in Europe, the US and Japan helped it buck an unfavourable trend which has seen luxury goods companies suffer as a result of the slowing global economy. The company, which owns fashion houses Dior and Louis Vuitton, said recorded revenue rose by 16 per cent to €35.7bn (£27bn) in 2015. This beat analysts estimates [...]
Third quarter results reveal steady growth at Moet Hennessy Louis Vuitton October 10, 2016 Luxury goods group Moet Hennessy Louis Vuitton reported a positive first nine months of the year with sales of over €26bn. Like-for-like sales increased by five per cent in the first nine months compared with 2015 and all five of its divisions revealed solid single-digit growth. Read more: I'll drink to that: LVMH boss gets on board with wine app The Paris-based group [...]