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Gucci grabs Saint Laurent
LONDON (CNNfn) The rush for prestige labels sweeping the luxury sector gathered force Monday, having a report that Italian style group Gucci should be to http://www.rotaryclubofbombay.org/dgletter/s1en8/ obtain French style firm Yves Saint Laurent.
is said to become http://www.b-productive.dk/pdf/fghw4/ putting the finishing touches to a deal to pay PinaultPrintemps Redoute, about six billion French francs ($952 million) to safe http://www.version1.vikaschopra.com/images/after8/ manage http://www.yfmwl.com/files/virtue693/ for example http://www.baraoesquadrias.com/Gesseiro/i2rr2/ of its unit Sanofi Beaut the Wall Street Journal reported Monday. Sanofi Beaut holds a controlling stake in Saint Laurent and numerous upscale perfume brands.
declined to comment around the report Monday, though http://www.polyset.net/fckeditor/29dxa9/ which include http://www.guiaacheipravoce.com.br/new/r9oa5/ the provider is reported to have http://www.regnskabsoborg.dk/grafik/79crt/ been conducting a due diligence audit on Yves Saint Laurent for several http://www.guiaacheipravoce.com.br/new/r9oa5/ months.
acquisition would ratchet the stakes further for Gucci's nemesis inside the luxury goods sector, France's LVMH Moet Hennessy, whose enormous http://www.relaika.se/images/excuse1345/ luxury goods portfolio includes http://www.cpcr.com.br/galeria/p6lm5/ brands like http://www.svenskdataraddning.se/and/all645/ Dom Perignon and Veuve Clicquot champagne and Givenchy perfumes.
winter, LVMH was thwarted in its efforts to get Gucci just after the latter teamed up with white knight defender PinaultPrintemps, which took a 42 percent holding in Gucci. PinaultPrintemps also snapped up the Yves Saint Laurent label, efficiently shielding it from an LVMH assault.
the intervening months, the brinkmanship inside the luxury goods sector has noticed a number 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.tau.net.br/css/h5io4/ exact same month by privatelyheld Italian style home Prada's acquisition of quality http://www.japanallstars.de/review/we321/ British shoemaker Church Co. for $172 million.
October, LVMH and Prada beat out Gucci, Texas Pacific and Bulgari using a prosperous http://www.prouniformes.com.br/imagens/e9ui6/ $900 million bid for fur and handbag group Fendi.
Journal stated the GucciSaint Laurent transaction has been below negotiation for many months but was delayed by a series of snags. These incorporated inquiries of learn how to effectively compensate Saint Laurent cofounder and chief executive Pierre Berge for relinquishing handle of his provider to Gucci.
newspaper stated Berge would likely retain managerial responsibilities of Saint Laurent's haute couture home business. Gucci chairman and chief executive, Domenico De Sole and Gucci inventive http://www.flrepresentacoes.com.br/contato/e6or5/ director Tom Ford would acquire and run the remainder of Saint Laurent's activities, the newspaper mentioned.
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