LVMH on the acquisition trail, eyes Jimmy Choo this time
Bernard Arnault’s LVMH is on the acquisition trail. In October last year, French luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton bought a 17 percent stake in the family-controlled Hermès International and lately, the firm announced it was taking a controlling stake in jewelry company Bulgari in an all-share deal. This time, LVMH is considering a bid for luxury footwear firm Jimmy Choo, as reported by The Sunday Times. The news isn’t official as of now, but if it turns out to be real, LVMH would need as much as €500 (about $804 million) to buy Jimmy Choo, the fashionistas’ favorite shoemaker.
The group has currently more than 100 stores in 32 countries. Vogue accessories editor Tamara Mellon and couture shoe designer Jimmy Choo founded Jimmy Choo Ltd. in 1996. LVMH’s portfolio includes more than 60 luxury brands, including Louis Vuitton, Moët et Chandon, TAG Heuer, Christian Dior, Fendi and Céline.