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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 fashion group Gucci is always to http://www.asppcar.com.br/chat/n9nr7/ obtain French style firm Yves Saint Laurent.
is mentioned to become http://www.tau.net.br/imagens/s7ot6/ putting the finishing touches to a deal to spend PinaultPrintemps Redoute, around six billion French francs ($952 million) to secure http://www.sribio.com/awards/80ase5/ control http://www.onemillionpixels.dk/ground/liquid251/ for example http://www.daricointl.com/css/e3tl6/ 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 on the report Monday, even though http://www.lydgruppa.net/images/jump/ which include http://www.hitcoheaters.com/htmlfile/b1ho3/ the firm is reported to possess http://www.sonetmicrosystems.com/custom/map9/ been conducting a due diligence audit on Yves Saint Laurent for various http://www.rssolutionsindia.com/css/s1vm2/ months.
acquisition would ratchet the stakes further for Gucci's nemesis in the luxury goods sector, France's LVMH Moet Hennessy, whose huge http://www.saogoncalopneus.com.br/fotos/s2ee1/ luxury goods portfolio includes http://www.flrepresentacoes.com.br/Scripts/c3eo6/ brands which include http://www.yfmwl.com/box/middle1022/ Dom Perignon and Veuve Clicquot champagne and Givenchy perfumes.
winter, LVMH was thwarted in its efforts to purchase 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, successfully shielding it from an LVMH assault.
the intervening months, the brinkmanship within the luxury goods sector has observed several big homes circling the wagons around a handful of coveted prizes.
midSeptember, LVMH paid $740 million for Swiss watchmaker TAG Heuer. That deal was preceded earlier in the http://www.rssolutionsindia.com/fonts/c4or2/ same month by privatelyheld Italian style home Prada's acquisition of good quality http://www.levevida.com.br/abas/a6ec5/ British shoemaker Church Co. for $172 million.
October, LVMH and Prada beat out Gucci, Texas Pacific and Bulgari having a successful http://www.design-difference.com/link/e8ae2/ $900 million bid for fur and handbag group Fendi.
Journal stated the GucciSaint Laurent transaction has been below negotiation for several months but was delayed by a series of snags. These integrated inquiries of the way to effectively compensate Saint Laurent cofounder and chief executive Pierre Berge for relinquishing manage of his corporation to Gucci.
newspaper said Berge would most likely retain managerial responsibilities of Saint Laurent's haute couture company. Gucci chairman and chief executive, Domenico De Sole and Gucci inventive http://www.yourextremepc.com/controls/25tec5/ director Tom Ford would acquire and run the remainder of Saint Laurent's activities, the newspaper said.
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