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Agreement between the Bulgari Family and LVMH

Marina Milojević | 03.09.11 | 03:47 AM

Continuing the tradition of investing in the high potential brands, Arnault’s LVMH Moët Hennessy Louis Vuitton acquired 50.4 % of Bulgari, Italian jewelry and luxury goods manufacturer.

The exciting new possibilities are now opening for Bulgari, especially if we know that LVMH’s already acquired some of the most promising jewelry and watch manufacturers like Chaumet, Zenith, Hublot and Tag Heuer. The LVMH’s goal is, of course, to become a leader in a watch and jewelry industry, by strengthening the group with new members.

This contract will certainly restructure the condition of the fine jewelry and watch segment and put additional pressure to LVMH’s main competitors Swatch Group and Compagnie Financière Richemont SA. The value of this epic transaction is more than $6 billion worth, so we should not be surprised by the fact that on Monday, when the Bulgari was acquired, the shares of luxury companies worldwide climbed, despite the drastic declines in the global stock markets.

We can expect to see doubling of the size of LVMH’s watch and jewelry division where Bulgari is now the second-largest shareholder, after Arnault himself. They currently own 3.3 percent stake, which provides them all of the financial conditions to grow their products and increase their production with even more luxury goods.

Francesco Trapani, CEO of Bulgari

Francesco Trapani, a CEO of Bulgari, said: “We were not ready to sell, but to change the profile of our entrepreneurial activity… LVMH is the perfect partner and there is no question about its scale and global high quality management structure”.

Trapani will now join the executive committee of LVMH wile Paolo and Nicola Bulgari will continue working as chairman and vice chairman of the Bulgari board.

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