LVMH, the world’s largest luxury goods company, is considering acquiring Swiss luxury conglomerate Richemont. It has been reported hypebeast.
Bernard Arnault, owner of LVMH, is reportedly targeting jewelery brand Cartier, which he believes will further strengthen the group’s jewelery segment, which now includes Tiffany & Co, Bvlgari and Chaumet. Richemont is currently the fourth largest in the world by market capitalization, with a comprehensive portfolio of 26 homes and businesses including Cartier, Chloé, Montblanc, IWC, A. Lange & Söhne, Van Cleef & Arpels, Jaeger-LeCoultre, Panerai, Piaget and Vacheron. It is a luxury company. Constantin and YOOX Net-a-Porter Group retail platforms.
Richemont is majority owned by the family of South African businessman Johann Rupert, who reportedly strongly opposed the potential deal.
Previously reportedLVMH’s annual turnover is 79 billion Euros.