LVMH bags Christian Dior Couture

The world’s top luxury company LVMH said it plans to take full control of Christian Dior in order to harness the “high growth potential” of “one of the world’s most iconic brands,” whose sales have doubled over the past five years, reports AFP from Paris. 
LVMH, which already owns Christian Dior perfumes, said yesterday in a statement it had now agreed to 
buy Christian Dior Couture—the leatherware, Haute Couture, ready-to-wear, jewellery and shoes businesses—for 6.5 billion euros ($7.0 billion).
The announcement sent LVMH shares soaring on the Paris stock exchange, where they jumped by around three per cent in a generally flat market.
At the same time, the Arnault family who own 74 per cent of the holding company, Christian Dior SA, would “demonstrate their commitment” by acquiring the remaining 26 per cent, LVMH said.
That would streamline the current shareholder structure and help unlock synergies, LVMH finance chief Jean-Jacques Guiony told a telephone news conference.
Set up 70 years ago, Christian Dior Couture “is one of the most iconic brands worldwide”, LVMH said.

LVMH bags Christian Dior Couture

The worlds top luxury company LVMH said it plans to take full control of Christian Dior in order to harness the high growth potential of one of the worlds most iconic brands, whose sales have doubled over the past five years, reports AFP from Paris. LVMH, which already owns Christian Dior perfumes,said yesterday in a statement it had now agreed to buy Christian Dior Couturethe leatherware, Haute Couture, ready-to-wear, jewellery and shoes businessesfor 6.5 billion euros ($7.0 billion). The announcement sent LVMH shares soaring on the Paris stock exchange, where they jumped by around three per cent in a generally flat market. At the same time, the Arnault family who own 74 per cent of the holding company, Christian Dior SA, would demonstrate their commitment by acquiring the remaining 26 per cent, LVMH said. That would streamline the current shareholder structure and help unlock synergies, LVMH finance chief Jean-Jacques Guiony told a telephone news conference. Set up 70 years ago, Christian Dior Couture is one of the most iconic brands worldwide, LVMH said.