The LVMH Moët Hennessy Louis Vuitton luxury empire and the French billionaire Bernard Arnault announced on Tuesday a series of moves to take over Christian Dior in a $13.1 billion deal to consolidate control over the 70-year-old Parisian fashion house.
The transaction would simplify LVMH’s relationship with Christian Dior by buying out minority shareholders. LVMH, the world’s biggest luxury group by revenue, already owns Parfums Christian Dior, and the deal would give it ownership of the Christian Dior haute couture, leather, men’s and women’s ready-to-wear, and shoe businesses.
As part of the proposal, one of the largest for the luxury goods conglomerate, the Arnault family offered to buy the 25.9 percent of Dior it does not already own.
Full Content: Financial Times
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