French luxury giant LVMH – Moet Hennessy Louis Vuitton – Thursday said it bought fashion house Arnys, which makes clothes and accessories for men.
Arnys has been led by the Grimbert family since 1933 and most recently by Jean and Michel Grimbert, the third generation of the family to run and own the business.
Louis Vuitton, the French maker of laminated canvas handbags, was named the world’s most valuable luxury brand for a seventh consecutive year.
The brand, owned by LVMH, is worth $25.9 billion, a 7 percent increase from 2011, according to Millward Brown Optimor’s 2012 BrandZ study.
Hermes, in which LVMH owns a stake, rose to second place with a value of $19.1 billion, up 61 percent on last year. Rolex, the closely-held Swiss watch brand, was ranked third at $7.17 billion, a 36 percent gain.
French fashion powerhouse Dior has named Raf Simons as chief designer to succeed John Galliano who was fired more than a year ago for racist outbursts.
The 44-year-old Belgian, who started out designing furniture, will be responsible for Haute Couture, Ready-to-Wear and Women’s Accessories.
He will premiere his first Christian Dior Haute Couture collection in Paris in July, said Dior, one of the crown jewels in Bernard Arnault’s LVMH luxury empire.
French luxury goods conglomerate LVMH – Louis Vuitton Moet Hennessy has paid US$200 million for a 10 per cent stake in Chinese fashion brand Ochirly.
The buyout gives L Capital, LVMH’s private equity arm, to hold a direct stake in the family-owned Ochirly which has total value of US$2 billion.
The investment gives L Capital an opportunity to break into China’s strong fashion industry while Ochirly gains recognition through having a global investor.
LVMH Group’s yacht-building firm Princess has announced formal entry into India and is aiming to sell up to five luxury boats in the next year.
Smallest of these yachts cost INR40million ($790,000) while at the higher end, the price can go up to INR300million ($6,000,000).
“We will sell four to five yachts in the next 12 months,” Sharad Kachalia, a director at Navnit Marine, Princess International’s distributor for the country.
Much has been speculated ever since Dior’s creative head John Galliano fell from grace due to an anti-Semitism scandal five months ago.
Everyone from Azzedine Alaia to Givenchy’s Riccardo Tisci has been named as a potential replacement in the process.
But when respected trade publication Women’s Wear Daily adds water to the rumor mill, it is usually an entirely diffrent story in terms of credibility.
Monday’s paper reads that according to an anonymous source, Marc Jacobs is entering negotiations with the house this week.
Rappers’ fascination with luxury brands is far from dying down: following this summer’s surprise hit “Gucci Gucci” by Kreayshawn, it is Soulja Boy who is expressing his fashion love with an EP dedicated to Bernard Arnault.
Soulja Boy has turned his attention to Arnault’s signature brand Louis Vuitton, offering lyrics such as: “It don’t make no sense why they LV fake. But mine’s real!”
But while Soulja Boy manages to mention and correctly pronounce the label more than 60 times, Arnault likely won’t be pleased with being called Robert instead of Bernard several times as part of the new song.
LVMH on Tuesday announced the appointment of Humberto Leon and Carol Lim as artistic directors of the ready-to-wear label Kenzo with immediate effect.
They replace Sardinian designer Antonio Marras, who has held the post for eight years and who shows his own name label in Milan,
“After eight successful years, LVMH and Antonio Marras have decided to end their collaboration,” LVMH said in a statement, without giving details.
Louis Vuitton Moët Hennessy has announced open days at their European artisan workshops, ateliers, and vineyards for two days in October.
WWD reports that on the 15th and 16th of the month, the public will be able to experience what happens behind the doors of the luxury conglomerate’s brands that include fashion houses Louis Vuitton, Givenchy, and Dior, jewelry maker De Beers, and champagne labels Moët & Chandon, Veuve Clicquot, and Dom Pérignon.
Bernard Arnault told the paper: “Products are one thing, but how they’re made, who makes them, and where is also of interest to the public.”
Moet Hennessy, the wine and spirits arm of LVMH luxury group, said Thursday it was planting its first vineyard in China to produce a premium sparkling wine.
The 66-hectare (163-acre) vineyard will be planted as a joint venture with the publicly-owned agricultural development firm of the Ningxia Hui autonomous region in northwestern China.
The maker of Moet and Chandon champagne will build and own a facility near the vineyard to produce the high-end sparkling wine, which is to be sold locally under the Chandon label, LVMH said.
Louis Vuitton is the world’s most valuable luxury brand for the sixth consecutive year according to Millward Brown Optimor’s 2011 BrandZ study.
The brand, owned by Paris-based LVMH Moet Hennessy Louis Vuitton, has a value of $24.3 billion, an increase of 23 percent from 2010.
That’s almost as much as the combined values of Hermes, Gucci and Chanel, which ranked second, third and fourth in this year’s luxury-brand standings.
Watchmakers gave upbeat forecasts for 2011 at the industry’s largest fair on Wednesday, although the deadly earthquake which hit key luxury consuming country Japan and Arab uprisings cast shadows over the expectations.
Industry giants including Swatch and LVMH have all posted strong recoveries over 2010 and they are expecting the recovery to continue in 2011.
Swiss exhibitors underlined that January sales were up 16.9 percent over a year ago and predicted that 2011 would be a new record year for the industry.
LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, seems to be having an inspirational spring shopping time.
Just one week after sealing the deal to acquire Italian jewelry house Bulgari, LVMH joins the race for the celebrities’ shoemaker, Jimmy Choo.
As Sunday Times reported this weekend, the shoe brand, founded by Tamara Mellon, could be sold for as much as $804 million.
Marc Jacobs spends a lot of time on the road, so what better theme for his fall-winter collection for Louis Vuitton than the goings-on inside a grand old hotel?
To the sound of elevators arriving, uniformed bellboys opened wrought-iron doors for models stepping out in tongue-and-cheek outfits inspired by, among other things, porn films from the 1940s.
“I spend a good part of my life in hotels and I like watching their secret lives, especially the ballet between call girls, mistresses and wives,” said Jacobs, 47, on the final day of Paris fashion week.
LVMH acquired UK-based yacht builder Princess Yachts in 2008 and they are now entering the superyacht sector with the launch of the first of their M class vessels.
The first model in the series, the 32M, was unveiled at the London Boat Show in January 2011. It is also the first craft truly worthy of the world-class LVMH imprimatur.
For the yacht’s debut the company brought in some of its other brands, including Fendi, De Beers and Moet to demonstrate the glamour of the new range.
French luxury group LVMH has agreed to buy Rome-based jeweler Bulgari SpA in a cash-and-shares deal worth euro4.3 billion ($6 billion).
The deal will see Bulgari’s founding family become the second largest family shareholders in LVMH behind that of Chief Executive Bernard Arnault.
LVMH also announced a tender offer of 12.25 euros per share to acquire the remaining shares of Bulgari, a 61 percent premium over where they were trading before the announcement.
LVMH said Tuesday it had increased its stake in smaller rival Hermes to more than 20 percent, sparking fresh speculation about its ultimate intentions.
Mr. Arnault surprised the family behind Hermès two months ago by announcing he had racked up a 17.1% stake in their company.
LVMH said in a statement to the market regulator that as of Dec 17 it held 20.21 percent of Hermes after buying more shares on the open market.
Shilla Duty Free has struck a landmark agreement to open the world’s first Louis Vuitton airport store, at Incheon International Airport.
The luxury brand has traditionally rejected the airport retailing channel – though it is present in downtown travel retail through selected Gallerias run by fellow LVMH subsidiary DFS, and through high-class Korean retailers such as Shilla and Lotte.
Shilla said: “Louis Vuitton’s opening of a store in Incheon International Airport is being considered as a monumental achievement in the global tourism industry.
Hermes rejected on Wednesday “an attack” on its capital by luxury goods giant LVMH, sounding the start of what could become a bitter battle for control of one of France’s most iconic brands.
The head of LVMH, Bernard Arnault announced he had bought 17 percent of his rival Hermes, insisting that this does not herald a hostile takeover but that he simply wanted to become a “friendly” long-term shareholder.
“If you want to be friendly, Mr Arnault, you should withdraw,” retorted Hermes executives Bertrand Puech and Patrick Thomas.
Luxury conglomerate LVMH said Saturday it had taken a 14.2 percent stake in Hermes but denied it wanted to take over the French luxury goods firm.
The company controlled by French businessman Bernard Arnault said it wanted to boost the stake to 17.1 percent at a total cost of 1.45 billion euros (two billion dollars) but was not seeking even representation on the Hermes board.
The move makes LVMH the largest Hermes shareholder after the heirs to the family share of around 70 percent.
There has been speculation about the future of Hermes, known for its fine leather goods and silk scarves, since the death of its charismatic head Jean-Louis Dumas.