Owner of Louis Vuitton Buys Christian Dior for $13 Billion
The Business of Fashion is reporting that LVMH has announced that it will be purchasing the entire Christain Dior brand in an attempt to strengthen LVMH’s leather goods division. If you’re up on the ins and outs of the fashion business, you may already know that LVMH already owns Christian Dior’s Parfums arm. With this new deal that LVMH has put together would see the acquisition of Christian Dior’s haute couture, leather, men’s and women’s ready to wear and footwear. The acquisition is huge and tapped to cost LVMH around $13 billion USD.
This is a strong move for LVMH as Dior’s revenue has been steadily growing for the past five years with improved profitability. According to BOF LVMH expects this deal to close by the end of May 2017.