LVMH takes control of Bulgari - leatherbiz: Leading news site for the Leatherbiz

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LVMH takes control of Bulgari

07/03/2011
Luxury goods group LVMH has acquired a controlling stake in leathergoods, watch and jewellery brand Bulgari.

LVMH will issue 16.5 million of its shares in exchange for the 152.5 million Bulgari shares currently held by the Bulgari family, who will become the second largest family shareholder of the LVMH Group.

Brothers Paolo and Nicola Bulgari will remain chairman and vice-chairman respectively of the Bulgari board of directors. Bulgari chief executive, Francesco Trapani, will join the executive committee of LVMH and will assume the management of watches and jewellery activities for the LVMH group.


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