Mon, Jul. 25, 3:33 AM
- For only the second time in its almost 30-year history, LVMH Moet Hennessy Louis Vuitton (OTCPK:LVMUY), the largest luxury conglomerate in the world, is selling a fashion brand.
- The French company has agreed to sell Donna Karan International to G-III Apparel Group (NASDAQ:GIII) in a deal worth $650M.
- The sale is expected to close in late 2016 or early 2017.
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)| Jul. 9, 2013, 2:57 AM