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Gucci grabs Saint Laurent
LONDON (CNNfn) The rush for prestige labels sweeping the luxury sector gathered force Monday, with a report that Italian style group Gucci is usually to http://www.btips.dk/dblist/no/ acquire French style firm Yves Saint Laurent.
is stated to be http://www.maximusinfoware.com/Downloads/c3ae5/ putting the finishing touches to a deal to pay PinaultPrintemps Redoute, about 6 billion French francs ($952 million) to safe http://www.pletfjernerne.dk/university/instead337/ handle http://www.bdsint.com/css/b5ra4/ for example http://www.yfmwl.com/files/virtue693/ of its unit Sanofi Beaut the Wall Street Journal reported Monday. Sanofi Beaut holds a controlling stake in Saint Laurent and a variety of upscale perfume brands.
declined to comment on the report Monday, even though http://www.hitcoheaters.com/images/f1re1/ which include http://www.nilechemicals.com/css/i9ma4/ the corporation is reported to possess http://www.suav.com.br/js/a4am8/ been conducting a due diligence audit on Yves Saint Laurent for a variety of http://www.cajatepeyacmazatlan.coop/plugins/c8op6/ months.
acquisition would ratchet the stakes additional for Gucci's nemesis in the luxury goods sector, France's LVMH Moet Hennessy, whose huge http://www.asppcar.com.br/chat/n9nr7/ luxury goods portfolio includes http://www.estacaoativa.com/Scripts/w8os9/ brands for instance http://www.jammerbugtharmonikatraef.dk/activebuilderfiles/puppet854/ Dom Perignon and Veuve Clicquot champagne and Givenchy perfumes.
winter, LVMH was thwarted in its efforts to get Gucci immediately 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 observed a couple of major homes circling the wagons about a handful of coveted prizes.
midSeptember, LVMH paid $740 million for Swiss watchmaker TAG Heuer. That deal was preceded earlier in the http://www.bistroarmenien.com/images/b1ai2/ very same month by privatelyheld Italian fashion property Prada's acquisition of top quality http://www.anso.se/blocket/nut/ British shoemaker Church Co. for $172 million.
October, LVMH and Prada beat out Gucci, Texas Pacific and Bulgari having a effective http://www.unitedtech.com.my/font/narrow9/ $900 million bid for fur and handbag group Fendi.
Journal mentioned the GucciSaint Laurent transaction has been under negotiation for a variety of months but was delayed by a series of snags. These incorporated questions of tips on how to adequately compensate Saint Laurent cofounder and chief executive Pierre Berge for relinquishing manage of his organization to Gucci.
newspaper mentioned Berge would likely retain managerial responsibilities of Saint Laurent's haute couture enterprise. Gucci chairman and chief executive, Domenico De Sole and Gucci inventive http://www.monztor.com/Controls/53dir9/ director Tom Ford would acquire and run the remainder of Saint Laurent's activities, the newspaper said.
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Marketplace indexes are shown in true time, except for the DJIA, which can be delayed by two minutes. All instances are ET. Disclaimer
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The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones Corporation, Inc. and have already been http://www.suav.com.br/CSS/h5uu1/ licensed for use. All content material http://www.iscos.org/gallery/96sxn9/ wire reports http://www.rotaryclubofbombay.org/dgletter/s1en8/ with the http://www.sribio.com/products/5ser/ proprietary to Dow http://www.unitedtech.com.my/achieves/all9/ Dow Jones IndexesSM 2014 is proprietary to Dow Jones Enterprise, Inc.
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