LVMH, Arnault to simplify Christian Dior business structure

25 April, 2017, 13:33 | Author: Valerie Burke
  • Dior CEO Sidney Toledano, his wife Katia and Italian fashion designer Maria Grazia Chiuri

The plan will allow the French luxury conglomerate LVMH Louis Vuitton Moët Hennessy SE to take control of Christian Dior Couture, Christian Dior's operating subsidiary.

- LVMH and the family holding company of controlling shareholder Bernard Arnault announced on April 25 a deal involving Christian Dior that will simplify the structure of the luxury goods empire. This offer values the remaining Christian Dior shares at 12.1 billion euros, resulting in the 6.5 billion euro deal.

At the same time, the Arnault Family Group is planning a public takeover offer to purchase the shares in Christian Dior SA it does not already own.

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- Arnault's family company, Semyrhamis, said it would offer 172 euros in cash and 0.192 shares in Hermes, a rival French luxury company in which Arnault has a stake, for the remaining Christian Dior shares that it does not now own.

In Paris, LVMH shares were gaining 3.05 percent to 221.25 euros, and Christian Dior shares were gaining 12 percent to 253.90 euros. With this acquisition, LVMH will stake claim to Christian Dior Couture, which includes Lady Dior handbags, made-to-measure Dior gowns and men's and women's ready-to-wear lines. They illustrate the commitment of my family group and emphasize its confidence in the long-term perspectives of LVMH and its brands.

The deal, valuing Dior at 260 euros (£220) a share, marks one of LVMH's biggest ever acquisitions and sees it add Christian Dior Couture to its stable, joining Dior perfumes, which it has owned since the 1960s. "I am delighted to announce this project today and thus continue and reinforce the development of LVMH in France and worldwide".

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