French luxury group LVMH Moet Hennessy Louis Vuitton, owner of luxury brands like Moet & Chandon, Louis Vuitton, Fendi, Christian Dior has agreed to buy Rome-based world’s third largest jeweler Bulgari for about 3.7 billion euros ($5.2 billion).
France’s richest man, Arnault has grown LVMH into a euro20 billion company since its creation in 1987.
Source:www.lvmh.com
The deal will see Bulgari’s owner’s become the second largest family shareholders in LVMH behind that of Chief Executive Bernard Arnault. Bulgari was started in 1884 by Greek immigrant Sotirios Bulgari, who opened the flagship Via Condotti store in Rome in 1905, and has expanded to more than 260 stores.
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[...] LVMH recently bought Jewelry brand Bulgari and is now getting in business of making super yacht. French group LVMH is behind worlds most prestigious brands like Louis Vuitton, Moet & Chandon, Fendi, Christian Dior have presence in multiple luxury categories. [...]