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LVMH

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Jay-Z Sells 50 Percent of His Champagne Brand to LVMH

23/02/2021

Jay-Z and renowned luxury group LVHM are entering a new era together. It was announced today, via The New York Times, that the best-selling rapper has sold 50 percent of his champagne brand, Armand de Brignac, also known as Ace of Spades, to the French conglomerate. Though the financial terms of the new partnership haven’t been released to the public, the Times reported that in 2018, half of Armand de Brignac was valued at a cool $250 million, per Jay-Z’s verse in his…

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LVMH Pulls Out of $16.2 Billion Deal with Tiffany & Co., Tiffany Files Lawsuit

11/09/2020

After announcing its record-breaking deal to acquire U.S. jewelry brand Tiffany & Co. for $16.2 billion last November, LVMH Moët HennessyLouis Vuitton said today that it would be scrapping the acquisitions. The Louis Vuitton owner said it would “not be able to complete” the purchase due to “a succession of events which undermine the acquisition,” per CNN. The French government reportedly asked the luxury goods conglomerate to defer the acquisition, citing the threat of possible U.S. tariffs on French goods. In July, the…

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Gigi Hadid to join LVMH Prize panel

31/01/2020

Gigi Hadid is joining the LVMH prize for Young Fashion Designers and will act as ambassador for its showroom this year. The model will take part in the panel, made up of major industry figures, to judge collections from semi-finalists. Influencers Caroline Daur and Leaf Greener, as well as six others from media, e-commerce and activism, join Hadid on the judging panel, reports WWD. Delphine Arnault, one of LVMH’s executive committee and director and vice president of Louis Vuitton, welcomed the…

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LVMH reaches deal to acquire Tiffany for $16.3 billion

25/11/2019

Bulgari owner LVMH has reached a deal to buy Tiffany & Co. at $135 a share in cash, or $16.3 billion, according to sources familiar with the matter. The boards of the luxury firms have been discussing a potential deal since last month, and will meet on Sunday to approve the deal, sources tell CNBC’s David Faber. An agreement could be announced as soon as Monday. Shares of Tiffany, the iconic New York-based jeweler, have risen over hopes of a higher priced deal. Shares…

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LVMH announces Karl Lagerfeld fashion prize

28/08/2019

The late designer Karl Lagerfeld will be celebrated with an annual fashion prize, where a budding designer will win €150,000 and a one-year mentorship programme with LVMH. The award – which was previously called the Special Prize – will be renamed in honour of the designer. “Karl Lagerfeld, creative director of the house of Fendi since 1965, 
was involved in the prize since its launch,” Delphine Arnault, director and vice president of Louis Vuitton told WWD. “He was fully committed to…

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Rihanna, LVMH Confirm New Fashion Label

10/05/2019

Rihanna and LVMH Moët Hennessy Louis Vuitton have officially confirmed they are going into the fashion business together under the Fenty banner. The pop star and the French luxury giant issued a brief statement saying the new luxury maison would be based in Paris. It will be “centered on Rihanna, developed by her, and takes shape with her vision in terms of ready-to-wear, shoes and accessories, including commerciality and communication of the brand.” The release mentioned the collection would debut for spring…

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The Arnault family and LVMH to donate 200 mln euros for Paris’ Notre-Dame

16/04/2019

PARIS (Reuters) – French billionaire businessman Bernard Arnault’s family and his LVMH luxury goods group will donate 200 million euros ($226 million) to help repair Paris’ Notre-Dame cathedral, said a statement issued on behalf of Arnault. “The Arnault family and the LVMH group would like to show their solidarity at this time of national tragedy, and are joining up to help rebuild this extraordinary cathedral, which is a symbol of France, of its heritage and of French unity,” said the…

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