Lvmh Ups Stakes In Fendi And Karan

[stylegurrl]

FRANCE: LVMH Ups Stake In Fendi And Karan – Paper
07 May 2004
Source: just-style.com

French luxury goods group LVMH Moet Hennessy Louis Vuitton is approaching full control of Italian fashion house Fendi and United States-based designer Donna Karan, daily newspaper Les Echos has reported.

According to the newspaper, LVMH, which owns 84 per cent of Fendi, is about to purchase 10 per cent more of its capital from 16 per cent stakeholder Carla Fendi.

Such a stake, the paper said, would costs LVMH EUR112.3 million based on the price it paid previously for its stake in Fendi.

Meanwhile, the company has increased its 89 per cent stake in Donna Karan to 98 per cent since January, at a cost of US$43.8m.

In both cases, the stake increases were facilitated by prior agreements with the shareholders at a price fixed in advance, the paper said.

 

[pennyfei]

That's what almost everyone expects! LVMH will eventually gain total control of the two houses, except for the position of creative director, maybe.

 

[faust]

Originally posted by pennyfei@May 7th, 2004 - 1:06 pm
That's what almost everyone expects! LVMH will eventually gain total control of the two houses, except for the position of creative director, maybe.

Why not creative director? Just another employee to them.

 

[seditionary]

lvmh one of the great monsters of the fash industry growing again...
wat a suprise.. the beast has to eat... doesnt she....
n bernard arnault.... the beasts daddy... the richest man in france!
n the richest man in the fashion world... well done.. me old mucka.... B)