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.

Bono and and his wife Ali Hewson star in the newest of Louis Vuitton’s “core values” ads shot by Annie Leibovitz.

The couple, who were shot in South Africa, wear clothing by Edun, Hewson’s sustainable fashion line. in which LVMH took a 49 percent stake last year.

it’s the first time the U2 front man has appeared in an ad without his band, and the first time a label other than Vuitton is getting a fashion credit.