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LVMH considers buying Richemont

Date: March 24, 2023 Time: 21:38:08

The LVMH conglomerate, headed by the world’s richest man Bernard Arnault, is considering acquiring the Richemont group of companies. Of course, the businessman’s main objective in this case is to add Cartier to his empire. Hypebeast writes about it.

Cartier is reportedly seen as a key addition to Tiffany & Co. The move could boost the group’s jewelry segment to match the dominance in leather goods the French conglomerate is pursuing through its Christian Dior and Louis Vuitton brands.

However, the potential sale appears problematic, as the Rupert family owns a majority stake in Richemont. And his patriarch, Johann Rupert, is not on board with the potential deal. If the deal is successful, Arnault will also welcome Chloé, Montblanc, IWC, A. Lange & Söhne, Van Cleef & Arpels, Jaeger-LeCoultre, Panerai, Piaget and Vacheron Constantin.

Earlier it became known that Bernard Arnault acquired the residence of Leonardo da Vinci in Milan. The mansion was built in the 15th century. We talk about it in more detail here.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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