LVMH Moët Hennessy Louis Vuitton said on Friday it has received the requisite clearances from authorities to close on its acquisition of luxury travel operator Belmond, and that could mean more shops for its luxury brands.
Initially thought to have synergies mostly with LVMH’s wine and spirits businesses, including a complementary base with its own Cheval Blanc and Bulgari hotel properties, there’s also potential down the road for the inclusion of luxury boutiques for the conglomerate’s many apparel and accessories brands in the properties under Belmond’s umbrella.
The acquisition is set to close on April 17, 2019.
LVMH disclosed in December 2018 that it planned to acquire Belmond in a deal valued at $2.6 billion. Belmond began operations in 1976. It operates several luxury hotels, restaurants, a few safari camps, several train lines and two river cruise properties. The acquisition grows LVMH’s footprint in the hospitality space.