It is a company that we follow for a long time, ten years maybe. We were already shareholders up to a few percent. We join today with a family that we know well and who shares the values of LVMH: a respect for, excellence in quality, creativity and innovation.
Vibram Five Fingers Bulgari is one of the largest global brands, and one of the last of this size to be independent again. So it was an opportunity that could interest us and that we could not let go ...
The family has the desire to stay involved. And it was attracted by the prospect, rather unusual, to be associated with the success of LVMH.
Vibram 5 Fingers They are entrepreneurs, who will remain at the helm and will be the guarantors of development here, Bulgari. In addition, Francesco Trapani, who was the architect for twenty years of success Bulgari, will oversee our watches and jewelery, crafts he knows intimately.
Bulgari is an iconic brand in the universe, that jewelry and watches. With its acquisition, LVMH double its size in these areas and became a world leader as he is already in leather or champagne.
Vibram Five Fingers Treksport Respecting its creativity, spirit of "Roman" culture, as we do with our other brands, LVMH will accelerate its development. Our group will be able to bring him his strike force in procurement and distribution capabilities. LVMH will now offer something even more unique, with, in each sector, the most iconic brands. This will allow Bulgaria to develop much more on emerging markets and particularly the United States, where its potential is significant. In terms of watchmaking and crafts within our manufacturing watches in Switzerland, we can play together.
Should we change the position of Bulgari, who has diversified into fragrances and cosmetics, in particular?
LVMH may provide advice to Bulgari in its diversification.
Beats by dreThat said, a priori, the objective is first to focus on its strengths, namely the high-end jewelry, the creativity of its workshops and watches.
Faced with such Richemont, the division of LVMH watch and jewelry he is now of sufficient size? Or do you still in this job or other, new acquisitions?
Only Bulgari was already a rival to the largest of its businesses. We'll let alone with a size twice as large.
Beats by dr dre As for our growth strategy, I note that with the exception of Hublot, what we now have our first major acquisition since a decade. We are in fact highly selective in acquisitions, and much more committed to internal growth. Bulgari was in any way may be the last opportunity to complete the acquisition of a brand that is on top of his universe.
With Hermes maybe ...
Dr. Dre Ear HeadphonesThe transaction with Bulgari can it serve as a model for your ambitions vis-à-vis this group that you have 20.2% of capital? Your position with regard has she changed?
I hope, anyway, that this association will show everyone that some families who have built through several generations an iconic brand of the highest quality craftsmanship, can understand the interest of a merger with LVMH. Hermes on, I can only repeat that we are a shareholder and peaceful that we will support the shareholders and the strategy they lead, whatever comments are made here and there.