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LVMH-Moet Hennessy Louis Vuitton ADR (LVMUY)

- OTCPK - Current
  • Jul. 9, 2013, 2:57 AM
    LVMH Moet Hennessy Louis Vuitton (LVMHF.PK) has agreed to acquire 80% of Italian cashmere clothier Loro Piana for €2B ($2.57B). The deal will provide LVMH deep knowledge in textiles from sourcing to manufacturing, and help the company expand into the faster-growing very high end of the market - Loro Piana sells cashmere sweaters for $1,385. That could help offset the slowdown at Louis Vuitton, LVMH's biggest brand. (PR)
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Company Description
LVMH-Moet Hennessy Louis Vuitton is a diversified luxury goods conglomerate. It produces and sells champagne under the brands Moet & Chandon, Veuve Clicquot, and Ponsardin. LVMH also produces cognac through Hennessy and Hine. The Company makes perfumes, cosmetics, luggage, watches and jewelry,... More
Industry: Apparel Stores
Country: France