lvmh are trying to buy christian dior couture
The luxury conglomerate want to simplify their business structure.
Dior haute couture spring/summer 17
LVMH have made an offer to buy Christian Dior Couture — which includes men's and women's ready-to-wear collections, as well as couture, jewellery and accessories — for €6.5 billion. It's a move by Bernard Arnault to simplify the structures of LVMH and Christian Dior. Currently the Christian Dior Group contains both LVMH and Christian Dior Couture. To confuse things a little more, LVMH own Christian Dior's perfumes and beauty rights. Bernard Arnault is also the CEO of both. It will bring the Dior brand in line with LVMH's other luxury fashion holdings, which include Louis Vuitton, Céline, Loewe, Givenchy, and Fendi.
In a statement, he described it as an "important milestone" for LVMH. "The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH's Fashion & Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide," he said. "They illustrate the commitment of my family group and emphasise its confidence in the long-term perspectives of LVMH and its brands. I am delighted to announce this project today and thus continue and reinforce the development of LVMH in France and worldwide."
WWD reports that the deal should go through in the second half of this year, once given the green light by the regulatory bodies.
Text Felix Petty