Categories: HeadlinesSpecialty Apparel

LVMH Adds Bulgari to Brand Family

French luxury goods maker LVMH Moet Hennessy Louis Vuitton (Rome) will acquire control of Italian competitor Bulgari in a deal worth about $5.1 billion (3.7 billion euros).

International group LVMH controls more than 50 luxury brands. Through the deal, the company will buy the Bulgari family's 50.4 percent share of the company, which was founded in 1884.

“Our entrance into LVMH will allow Bulgari to reinforce its worldwide growth and to realize significant synergies,” Bulgari ceo Francesco Trapani said in a statement.

VMSD Staff

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