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LVMH

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.

Family businesses report strong first quarter results

April 21, 2011

The year has started well for family-controlled businesses in Europe, with many reporting strong growth in the first quarter of 2011.

French family-controlled luxury goods company LVMH, headed by Bernard Arnault, said in a statement that its revenues for the first quarter of the year rose by 17% to €5.2 billion, when compared to the same period last year.

Strong growth ensures family control at Versace

March 30, 2011

Family-owned fashion house Versace announced on 30 March that its revenue for 2010 has increased by 9.1% following a painful restructuring process.

Fully-owned by the Versace family, the Milan-based company said in a statement that its revenues for 2010 rose to €292 million from €268 million the year before. But the growth didn’t come easily for the group, which saw an extensive restructuring process over the 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.

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-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.