This week has seen movement across tiers and product categories with brands finding new homes, and along with them, new financing and new opportunities.
LVMH to take ownership of Christian Dior
LVMH Moët Hennessy Louis Vuitton is set to simplify its ownership structure with the acquisition of the Christian Dior brand.
The Arnault family, which owns a stake in LVMH, has a 74 percent stake in the fashion house. The family is now looking to buy out the minority shareholders for 12.1 billion euros ($13 billion). Funding for a portion of the transaction will be made with shares the Arnaults hold in Hermès. And Dior will sell to LVMH for 6.5 billion euros. ($7.1 billion).
The luxury conglomerate, which owns a vast array of labels like Fendi, Givenchy and Céline, also already owns Dior perfumes and beauty.
Read more on Sourcing Journal.