Make-up buy looks nice for 3i February 27, 2012 BRITAIN’S oldest private equity house 3i has spent around €120m (£101.6m) on a German firm that supplies a series of cosmetic industry giants. 3i has taken a majority stake in Geka, which makes brushes, applicators and packaging systems and is based in Bechhofen. The size of its shareholding has not been disclosed but City A.M. [...]
LVMH reports high-end gains for top brands July 26, 2011 LUXURY goods group LVMH has enjoyed a glittering first half, with revenues up 15 per cent to €10.3bn (£9.1bn). The group, whose prestige brands include Louis Vuitton, Moët and Hennessy, saw profits from recurring operations rise 22 per cent from the same time last year to €2.2bn – a reflection of the growing appetite for [...]
LVMH reports high-end gains for top brands July 26, 2011 LUXURY goods group LVMH has enjoyed a glittering first half, with revenues up 15 per cent to €10.3bn (£9.1bn). The group, whose prestige brands include Louis Vuitton, Moët and Hennessy, saw profits from recurring operations rise 22 per cent from the same time last year to €2.2bn – a reflection of the growing appetite for [...]
LVMH first-half profits in double digit rise July 26, 2011 Luxury brand conglomerate LVMH Moët Hennessy Louis Vuitton said shoppers had snapped up its designer goods over the past six months, driving revenues up 13 per cent to €10.3bn (£9.1bn). LVMH, the world’s biggest seller of designer items such as Louis Vuitton and Fendi bags, said it had seen strong demand in the first half [...]
EU clears LVMH to acquire Bulgari June 30, 2011 FRENCH luxury group LVMH secured EU approval yesterday for its €3.7bn (£3.3bn) purchase of Italian peer Bulgari to boost its presence in emerging markets. The acquisition will help LVMH, which owns Louis Vuitton, improve margins and better compete with bigger watch and jewellery companies Richemont and Swatch. The companies announced the deal in March. The [...]
Family clings on to Hermés December 14, 2011 Fashion house Hermés has shielded itself from hostile takeover by creating H51, a holding company with a 50.2 per cent stake in the family business, amid fears that luxury brand LVMH was looking to make a bid after buying 17 per cent of its shares. Speculation of this bid has sent Hermés shares rocketing, up [...]
Louis Vuitton owner bullish as sales surge October 18, 2011 LVMH, the world’s largest luxury goods company, posted forecast-beating third-quarter sales growth yesterday and said it was confident for the rest of 2011, in the latest sign of wealthy shoppers’ resilient appetite for high-end goods. The Louis Vuitton maker posted a 15 per cent sales gain on a like-for-like basis, following strong results from Burberry [...]
Mulberry bags chief from rival Hermes December 21, 2011 LUXURY handbag and leather goods maker Mulberry has poached Bruno Guillon, the managing director of French rival Hermes, to help drive the group’s international expansion into Asia and the US. Guillon, 46, will become the brand’s first non-British chief executive, joining in March next year after 10 years at the family-owned fashion house Hermes, where [...]
LVMH bags massive profit April 18, 2011 LVMH, the world’s biggest luxury retailer, posted a higher than expected 17 per cent jump in sales for the first-quarter of 2011 yesterday, boosted by double-digit revenue growth across all segments. Demand for its luxury line-up, which includes brands like Louis Vuitton, Givenchy, Moet and Chandon and Christian Dior, delivered huge returns as sales for [...]
LVMH bags massive profit April 18, 2011 LVMH, the world’s biggest luxury retailer, posted a higher than expected 17 per cent jump in sales for the first-quarter of 2011 yesterday, boosted by double-digit revenue growth across all segments. Demand for its luxury line-up, which includes brands like Louis Vuitton, Givenchy, Moet and Chandon and Christian Dior, delivered huge returns as sales for [...]