Wednesday, 31 March 2010
Swatch are tripping over themselves to back away from the 'rumour' of a takeover let alone a hostile one... (see yesterday’s MO Down for details). It's got many a radar up and also a share price rise for Bulgari, not a bad result. Should Bulgari consider?
A Reuters article revealed that Bulgari says that the “controlling family is not keen to sell.” Swatch’s CEO, Nick Hayek, said, "The Swatch Group has not expressed any desire to acquire Bulgari, and Bulgari has not expressed either the desire to be bought by Swatch Group."
What is interesting to note is that "Bulgari shares rose as much as 5 percent on Monday after Swatch Group chief executive Nick Hayek told the German magazine Focus he regarded the Italian jeweller as a potential big brand that could be developed." The power of Swatch it seems does represent additional value to existing and future shareholders.
Image courtesy of theswisscenter.wordpress.com
Who's behind the MO DOWN
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