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LVMH bags Christian Dior Couture

LVMH bags Christian Dior Couture

LVMH bags Christian Dior Couture

In an internal transaction, LVMH will then buy Christian Dior Couture, the fashion subsidiary of Christian Dior in a deal that values the unit at EUR6 billion.

The deal "will allow LVMH to incorporate one of the most emblematic brands worldwide". The news may seem confusing to many - who believed the French conglomerate already controlled Dior along with fellow design houses including Céline, Givenchy and Fendi - but in actual fact Christian Dior SE is the main holding company of LVMH, which in turn controls the other brands. For the last 12 months which ended March 31, Christian Dior reported revenue in excess of 2 billion euros, with an operating profit of 270 million euros.

Christian Dior Couture is now considered an independent affiliate of LVMH despite having the same controlling shareholder.

In Paris, LVMH shares were gaining 3.05 percent to 221.25 euros, and Christian Dior shares were gaining 12 percent to 253.90 euros.

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Bernard Arnault, the billionaire businessman, is to buy the rest of Christian Dior he does not already own in a deal which will see LVHM, his luxury good group, purchase Dior's couture brands for €6.5 billion.

At present, Christian Dior Couture is wholly owned by Christian Dior SA.

Through Semyrhamis, a company held by the Arnault family, the group will file a simplified mixed public offer on Christian Dior shares it does not own, which are equal to 25.7 percent of the share capital. They illustrate the commitment of my family group and emphasize its confidence in the long-term perspectives of LVMH and its brands.

"The operation is being viewed positively by the markets", because it will increase the theoretical value of the share, Daniel Larrouturou of Diamant Bleu Gestion told AFP.

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