The French conglomerate outperformed forecasts that were set for the Group and continues to seize market share.
Riding the M&A wave, the French luxury group has acquired the cult streetwear label, Off-White.
The new tourist mecca will house over 600 brands, restaurants and a five-star hotel.
The deal has been estimated to cost up to US$296 million.
As much as the coronavirus presents a rather gloomy outlook, luxury conglomerates are taking this opportunity to ramp up their portfolio — M&A is definitely on the agenda in 2021.
The French fashion tycoon’s net worth exceeded Amazon’s Jeff Bezos for a short period of time on Monday morning before Bezos eventually reclaimed the top spot later in the day.