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Bernard Arnault

LVMH says it won’t pay more for Bulgari family shares

August 2, 2011

The Bulgari family will not receive any more from LVMH for its shares of its luxury accessory company, despite rumours to the contrary, according to LVMH.

Following a report in daily Italian newspaper Il Sole 24, LVMH dismissed suggestions that it was planning to increase its price offer for Bulgari shares.

“LVMH categorically denies the unfounded and misleading rumors that LVMH could be obliged to increase the price of its offer on Bulgari," the company statement read.

PPR takes majority control of family business

July 5, 2011

Family-controlled luxury retail giant PPR has gained majority control in watchmaker Sowind Group, controlled by the Macaluso family, in a further move by PPR to increase its presence in the luxury sector.

PPR, headed by Francois-Henri Pinault, said on 4 July that it has upped its stake in the Swiss watchmaker to 50.1% from its earlier 23% stake. The move comes as PPR continues to refocus its operations on the luxury and lifestyle divisions.

Savvy LVMH investments already paying off

May 11, 2011

Family-controlled luxury goods company LVMH will be buoyed by its recent investment in fellow family businesses Bulgari and Hermes as the two groups reported strong first quarter results.

Jewellery house Bulgari, whose family members have sold 51% control of the company to Bernard Arnault’s LVMH, announced on 10 May that its net profits rose to €9.3 million for the quarter, after a loss of €8.3 million during the same period last year.

Hermes’ family member throws open door for rival LVMH

March 14, 2011

Nicolas Puech, the brother of Hermes’ executive chairman Bertrand Puech, told a French newspaper that he is not opposed to “a partnership” with rival LVMH, as long as Hermes can remain independent.

Family businesses dominate billionaire list

March 10, 2011

More than 40% of the names on the annual Forbes’ billionaire list are family business principals, or linked to family business fortunes, and out of the top 10 richest people in the world, seven are linked to family businesses.

Family-controlled luxury groups swap shares

March 7, 2011

Family-controlled luxury goods company LVMH announced on 7 March that it will take a controlling stake in fellow family business Bulgari, in a share swap deal which will see the Bulgari family own 3% of LVMH.

In a statement, Paris-based LVMH said that it will take control of 51% of shares held by the Bulgari family, and in return the Bulgari family will get a 3% stake in LVMH, to make it the second-largest family shareholder in LVMH.

Hermes talks tough to LVMH

February 17, 2011

Family-controlled luxury goods company Hermes has said that it wants fellow family business LVMH to reduce its stake in Hermes to less than 10%, according to a report in Bloomberg.

LVMH currently holds a 20% stake in Hermes, which, according to executive chairman Bertrand Puech, is "not normal". He wants LVMH chief executive Bernard Arnault to reduce his stake by more than half to make available the other shares to the open market.

Amid profits comes battle at French luxury companies

February 4, 2011

Family-controlled Hermes will be relieved that it notched up a 25% growth in sales in 2010 as it will bolster its defence from the predatory arch rival LVMH.

In a statement, the Paris-based company said that full-year sales increased to €2.4 billion from €1.9 billion the previous year. The growth was attributed to strong business in all regions, with sales in America and Europe recording growth of 25% and 16% respectively.

Family luxury still turning a profit

July 28, 2009

LMVH Moet Hennessy Louis Vuitton, the family-controlled luxury products group, yesterday announced revenues of €7.8 billion for the first half of 2009.

LMVH Moet Hennessy Louis Vuitton, the family-controlled luxury products group, yesterday announced revenues of €7.8 billion for the first half of 2009. This figure is a slight increase on the same period for 2008, although it is below predicted revenues.