Luxury giant LVMH Moet Hennessy Louis Vuitton is in discussions to acquire Michael Kors, according to sources. Société Générale S.A., a French multinational banking and financial services company headquartered in Paris, is said to be advising LVMH on a potential bid. LVMH has declined to comment on the Kors acquisition speculation.
It would not be the first time Louis Vuitton’s parent company held a stake in the Kors brand. LVMH Moët Hennessy Louis Vuitton acquired a one third stake in the brand in 1999, while Kors, himself, was serving as the creative head of LVMH-owned Celine. The Bernard Arnault-chaired conglomerate sold off its entire stake several years later in January 2003.
Michael Kors
The post LVMH in discussions to acquire Michael Kors appeared first on CPP-LUXURY.
from CPP-LUXURY http://www.cpp-luxury.com/lvmh-in-discussions-to-acquire-michael-kors/?utm_source=rss&utm_medium=rss&utm_campaign=lvmh-in-discussions-to-acquire-michael-kors
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