LVMH to buy Christian Dior for $13 billion
LVMH to buy Christian Dior for $13 billion
LVMH announced, on 25 April 2017, that it will buy the entire Christian Dior brand (it currently owns Parfums Christian Dior) for $13 billion.
The deal is set to be structured in the form of cash and shares. Through a company held by the Arnault family, LVMH has offered to purchase the 26% of Christian Dior that it does not already own. This will mean LVMH will own Christian Dior’s haute couture, women’s and men’s ready to wear lines, footwear and leather goods.
LVMH’s chairman and chief executive Bernard Arnault said ‘The corresponding transactions will allow the simplification of the structure 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.’
After the announcement was made on Tuesday morning, LVMH’s shares rose by 2.9% and shares in Christian Dior climbed by around 12%.
LVMH to buy Christian Dior for $13 billion
