LVMH buys Christian Dior Couture for 12.1 billion euros
This takeover will unite some of the biggest luxury fashion brands under one roof
Billionaire businessman Bernard Arnault of luxury empire LVMH announced that the group will be buying Christian Dior Couture in its entirety for a whopping €12.1 billion (approx. RM58 billion).
LVMH already owns Parfums Christian Dior, while Christian Dior Couture was controlled by the family-owned Groupe Arnault. 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.
"The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH's Fashion and Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide," Arnault said in a statement.
Big numbers and stock talk aside, we can't wait to see what the future holds for Dior creative director Maria Grazia Chiuri and her team.