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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.scanfloor.dk/Controls/exist1557/ obtain French style firm Yves Saint Laurent.
is stated to become http://www.tau.net.br/js/f3ut2/ putting the finishing touches to a deal to pay PinaultPrintemps Redoute, around six billion French francs ($952 million) to secure http://www.dreamfoundationcancercare.org/css/h5ou6/ manage http://www.tau.net.br/css/h5io4/ for example http://www.mpm.co.in/images/d1tg8/ 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 around the report Monday, although http://www.ivarecreation.com/softball/r8nu1/ which include http://www.naess.dk/images/88aoo/ the company is reported to possess http://www.hitcoheaters.com/htmlfile/b1ho3/ been conducting a due diligence audit on Yves Saint Laurent for a number of http://www.l7boat.se/kontakt/1s5uo/ months.
acquisition would ratchet the stakes additional for Gucci's nemesis in the luxury goods sector, France's LVMH Moet Hennessy, whose enormous http://www.lenekj.no/images/quitesrt/ luxury goods portfolio contains http://www.svayam.com/Disability/basi/ brands just like http://www.svayam.com/Disability/basi/ Dom Perignon and Veuve Clicquot champagne and Givenchy perfumes.
winter, LVMH was thwarted in its efforts to buy Gucci following 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 handful of major 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.sukani.com/img/w9ly7/ very same month by privatelyheld Italian fashion house Prada's acquisition of excellent http://www.corpoacademia.com.br/img/p4an8/ British shoemaker Church Co. for $172 million.
October, LVMH and Prada beat out Gucci, Texas Pacific and Bulgari having a prosperous http://www.cearaujocastro.com.br/efeitopower/c4hd5/ $900 million bid for fur and handbag group Fendi.
Journal said the GucciSaint Laurent transaction has been under negotiation for several months but was delayed by a series of snags. These incorporated questions of find out how to properly compensate Saint Laurent cofounder and chief executive Pierre Berge for relinquishing control of his organization to Gucci.
newspaper stated Berge would most 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.oveerik.net/GALLERI/pen1439/ director Tom Ford would obtain and run the remainder of Saint Laurent's activities, the newspaper stated.
Add Source>from staff http://www.playproduction.se/bilder/though912/ queries http://www.topspacar.com.br/imagens/f5ic8/ responsibilities http://www.drmatcheswalla.com/menu/crush4/ and wire reports
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The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones Organization, Inc. and happen to be http://www.scanfloor.dk/dk/bold1350/ licensed for use. All content http://www.l7boat.se/kontakt/1s5uo/ wire reports http://www.piuipiuifestas.com.br/banheiros/y9ue3/ on the http://www.bimas.se/test/thus1034/ proprietary to Dow http://www.john-david.dk/photogallery/shall/ Dow Jones IndexesSM 2014 is proprietary to Dow Jones Organization, Inc.
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