Tuesday, 16 March 2010

LVMH To Buy Bulgari? – 16/2/10

We are watching LVMH more closely than usual, with news that the luxury group’s watch sector is “confident of returning to profitable growth.”

Also, according to Reuters, the head of LVMH’s watch and jewellery unit, Philippe Pascal, is not ruling out future acquisitions.

Pascal said, “With Hublot, we showed that we can undertake purchases if the financial terms are reasonable and the brand has potential for development.”

And the answer you’re watching for:

Q: Is LVMH interested in buying Italian jeweller Bulgari?
A: Pascal said, “No comment. We'll look at interesting offers, but Bulgari is not relevant now."

This article continues LVMH’s “relatively upbeat” attitude towards its watch and fine jewellery divisions. See our article for February 8 (Business Is Improving For LVMH) for more details.

Image is courtesy of: www.louisvuitton.com

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au