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Bulgari

FB Roundup: Delphine Arnault, Andrew Forrest, Fred DeLuca and Peter Buck

January 16, 2023

In this week’s FB Roundup, Bernard Arnault appoints his daughter Delphine to run Dior; Andrew Forrest says Australia-to-Singapore solar plan is no longer viable; and the heirs of Subway’s founders are set to reap dividends from $10 billion sale deal.

Bernard Arnault appoints daughter Delphine to run Dior
The world's richest man and chairman of luxury goods giant LVMH, Bernard Arnault, has officially appointed his daughter Delphine as the chief executive officer (CEO) of French luxury fashion house Dior.

Arnault’s eldest child takes the reins in a further management shakeup, having recently assigned his eldest son, Antoine, to run the family-owned holding company Christian Dior SE.

FB Roundup: Dietrich Mateschitz, Bernard Arnault, Sir Richard Branson

October 24, 2022

In this week’s FB Roundup, tributes are paid to billionaire Red Bull co-founder Dietrich Mateschitz; Bernard Arnault sells his private jet to avoid climate activists tracking him; and Sir Richard Branson is invited to take part in a Singapore death penalty debate.

Tributes paid to billionaire Red Bull co-founder Dietrich Mateschitz
Austrian President Alexander Van der Bellen has led tributes to Red Bull co-founder Dietrich Mateschitz, who has passed away aged 78 after a long battle with cancer.

Austria's richest person with a fortune estimated by Forbes at $27.4 billion, the entrepreneur built the energy drink into one of the most recognisable brands in the world with influence across the worlds of sport and culture.

Food is the new fashion for families

June 28, 2018

Food and hospitality is “the next business frontier” for Europe’s luxury fashion families, with Bulgari descendant and investor Francesco Trapani the latest to help himself to a side of Italy’s food industry.

Trapani, who sold his family’s stake in jeweller Bulgari to LVMH in 2011 for €4.8 billion ($5.5 billion), has added Italian pizza chain Briscola and gelato maker Geloso to his portfolio, alongside the 5% stake he owns in Tiffany.

Indesit sale could be wake up call for Italy to support family businesses

July 17, 2014

Last week’s sale of kitchen appliance manufacturer Indesit, the latest in a long line of large Italian family businesses recently sold to foreigners, could be a wake up call for the government to make the country more business friendly, a family business academic says.

The Merloni family sold its controlling 60.4% stake in the company to US competitor Whirlpool for €758 million, bringing to an end four generations of family control. It was the largest producer of home appliances in Italy.

Bulgari family sells a third of its LVMH shares

February 8, 2012

The Bulgari family has sold almost 4.5 million shares in French luxury goods group LVMH less than a year after it became the conglomerate's second biggest family shareholder.

Brothers Paolo and Nicola Bulgari, the grandsons of Sotirio Bulgari, who founded the eponymous Italian jeweller, and their nephew Francesco Trapani together sold about a third of the family's LVMH stake, which it acquired after a share swap with the Paris-based group last year.

Armani: The family business isn't for sale

January 18, 2012

French luxury groups PPR and LVMH, which in the throes of "shopping fever" acquired a number of Italian family businesses recently, have no chance of getting their hands on the Giorgio Armani Group.

French luxury groups PPR and LVMH, which in the throes of "shopping fever" acquired a number of Italian family businesses recently, have no chance of getting their hands on the Giorgio Armani Group.

That's according to the company's chief executive, Giorgio Armani, who said the family business, which includes brands such as Emporio Armani and Armani Exchange, is not for sale.

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.

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.

Italian family businesses breathe a sigh of relief

March 23, 2011

News that the Italian government is looking to protect local companies against unwanted takeovers is likely to be greeted with relief among family businesses in the country – at least in the immediate future.

But longer-term pressures on family businesses in Italy won't be resolved by government intervention. Nor for that matter will they be anywhere else in the world.

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.