LVMH Acquires Italian Jewelry Brand Bulgari for 3.7 Billion Euros

Bulgari

In its biggest takeover in over a decade, LVMH (Moët Hennessy Louis Vuitton) has taken control of Bulgari, the iconic watch and jewelry maker that's based in Rome. All eyes in the business have been on LVMH’s lustful dance with Hermès, as the family-owned fashion house resists LVMH’s takeover attempts. (The Paris-based conglomerate behind more than 60 luxury brands including Christian Dior, Céline, Dom Perignon and Fendi, bought a 20 percent stake in Hermès last year.) The Bulgari family agreed to the all-share deal worth a whopping 3.7 billion euros. The New York Times Dealbook has the skinny:

...LVMH is widely regarded as an extremely powerful force in fashion and luxury, offering items ranging from Louis Vuitton handbags to Dom Perignon champagne. And it has benefited from a resurgence in the high-end consumer goods market, as revenue rose 19 percent last year, to more than 20 billion euros, while profit jumped 73 percent, to 3 billion euros.

Mr. Arnault has established a reputation as one of the luxury industry’s most aggressive buyers, with a massive appetite for striking deals. He has regularly dueled with rivals like PPR of France and Richemont of Switzerland over control of some of the world’s top brands.