Lifestyle -- 16 days ago
Arnault's World: LVMH’s interest in Richemont
Rumours in the fashion business world suggest that LVMH owner and CEO Bernard Arnault may be looking to purchase rival holding company Richemont.
Two prime movers in fashion, LVMH and Richemont, have recently made headlines due to LVMH founder and CEO Bernard Arnault. The multi-billionaire has taken a personal equity stake in Richemont. The amount of shares that Arnault has acquired is confidential, but the news of his purchase raised Richemont’s market value by a colossal 4 percent. The LVMH CEO had previously stated publicly his admiration for Richemont and the quality of their maisons, particularly in their ability to turn small businesses into success stories, like the recent acquisition of Italian jeweller Vhernier.
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