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LVMH, Catterton Partner to Create L Catterton, a Private Equity Firm

In What's New, Industry News by Accessories Staff

Greenwich, CT and Paris–Catterton, a consumer-focused private equity firm, LVMH, the world’s largest luxurygoods conglomerate, and Groupe Arnault, the family holding company of Bernard Arnault, announced today that they have entered into an agreement to create L Catterton. The new partnership will combine Catterton’s existing North American and Latin American …

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LVMH Hits New Heights as 2014 Profit Rises 64%

In What's New, Industry News by Jeff Prine

Paris—LVMH enjoyed a record high in shares today after reporting Tuesday that its luxurygoods sales were higher than expected last year. Pointing to a successful rejuvenation of its flagship Louis Vuitton brand, Chairman/CEO Bernard Arnault credited designer Nicolas Ghesquiere with revitalizing the line, which accounts for more than 7.5 billion …

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“Handbag War” Ends: LVMH, Hermès Make Up

In What's New, Industry News by Jeff Prine

Paris—One of the most contentious and bitter battles ever in luxurygoods is over. Today—unexpectedly—LVMH and Hermès announced a conciliatory agreement to end their fight over the shares LVMH took in Hermès. Under the deal, LVMH, the world’s No. 1 luxury group, controlled by billionaire Bernard Arnault—agreed to relinquish most of …

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LVMH First Half Profit Hit by Exchange Rates

In What's New, Industry News by Jeff Prine

Paris—LVMH—the world’s largest luxurygoods conglomerate—felt the sting of a “pressured” Asian market that pushed its profit and margins lower in the first half. Profit from recurring operations fell 5% to 2.58 billion euros (about $3.5 billion). Analysts had expected 2.76 billion euros. According to CFO Jean-Jacques Guiony, so-called organic sales …

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Ghesquière to Louis Vuitton? Not So Fast, LVMH Says

In What's New by Jeff Prine

Paris—No wonder the international fashion community wants this so bad: it seems like the perfect matchup—rising star and former Balenciaga designer Nicolas Ghesquière being installed as creative director at Louis Vuitton. Ghesquière, who left Balenciaga last November after 17 years, has been touted as the successor to replace Marc Jacobs …