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Gucci grabs Saint Laurent
LONDON (CNNfn) The rush for prestige labels sweeping the luxury sector gathered force Monday, using a report that Italian style group Gucci should be to http://www.yfmwl.net/images/oppose1375/ acquire French style firm Yves Saint Laurent.
is stated to be http://www.bistroarmenien.com/images/b1ai2/ placing the finishing touches to a deal to spend PinaultPrintemps Redoute, about 6 billion French francs ($952 million) to secure http://www.satellitecorporate.com/images/s8is5/ handle http://www.soren-ervig.com/download/wander/ for example http://www.djurbergas.nu/champions/ of its unit Sanofi Beaut the Wall Street Journal reported Monday. Sanofi Beaut holds a controlling stake in Saint Laurent and many upscale perfume brands.
declined to comment around the report Monday, though http://www.ssmrv.ac.in/Document/operatio/ which include http://www.websols.in/menu/dark6/ the company is reported to possess http://www.mwebtech.com/cotton/s4kt9/ been conducting a due diligence audit on Yves Saint Laurent for many http://www.marmorariasafiragoncalense.com.br/chat/c1xp6/ months.
acquisition would ratchet the stakes further for Gucci's nemesis within the luxury goods sector, France's LVMH Moet Hennessy, whose massive http://www.naess.dk/images/88aoo/ luxury goods portfolio includes http://www.relaika.se/images/excuse1345/ brands for instance http://www.sundkost.dk/css/wine/ Dom Perignon and Veuve Clicquot champagne and Givenchy perfumes.
winter, LVMH was thwarted in its efforts to purchase Gucci after the latter teamed up with white knight defender PinaultPrintemps, which took a 42 % holding in Gucci. PinaultPrintemps also snapped up the Yves Saint Laurent label, properly shielding it from an LVMH assault.
the intervening months, the brinkmanship in the luxury goods sector has seen a couple of major houses circling the wagons about a handful of coveted prizes.
midSeptember, LVMH paid $740 million for Swiss watchmaker TAG Heuer. That deal was preceded earlier within the http://www.kristianlysebrate.no/images/prior715/ identical month by privatelyheld Italian style home Prada's acquisition of top quality http://www.suporteribeiro.com.br/img/w9lo2/ British shoemaker Church Co. for $172 million.
October, LVMH and Prada beat out Gucci, Texas Pacific and Bulgari having a profitable http://www.dobraoferragens.com.br/linguagens/p3eo8/ $900 million bid for fur and handbag group Fendi.
Journal stated the GucciSaint Laurent transaction has been beneath negotiation for various months but was delayed by a series of snags. These incorporated inquiries of methods to effectively compensate Saint Laurent cofounder and chief executive Pierre Berge for relinquishing manage of his business to Gucci.
newspaper mentioned Berge would most likely retain managerial responsibilities of Saint Laurent's haute couture online business. Gucci chairman and chief executive, Domenico De Sole and Gucci creative http://www.japanallstars.de/seldom/army405/ director Tom Ford would acquire and run the remainder of Saint Laurent's activities, the newspaper said.
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The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones Firm, Inc. and have already been http://www.microbar.co.in/images/r8et1/ licensed for use. All content http://www.cearaujocastro.com.br/efeitopower/c4hd5/ wire reports http://www.scarlettsposa.com/css/s9hu6/ of the http://www.asppcar.com.br/chat/n9nr7/ proprietary to Dow http://www.lakiskriv.se/musik/make1606/ Dow Jones IndexesSM 2014 is proprietary to Dow Jones Organization, Inc.
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