UBS says Kering-Richemont tie-up could make sense - leatherbiz: Leadin Leatherbiz

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UBS says Kering-Richemont tie-up could make sense

22/03/2021

Analysts at UBS have said it could make sense for Paris-based Kering to acquire Swiss luxury group Richemont.

Rumours of a possible acquisition began to spread on March 22 after online reports of an approach in January, which Richemont rejected.

According to Reuters, UBS responded by saying a deal between them, bringing brands such as Gucci and Cartier under one roof, could make sense and could create “a powerhouse” capable of challenging rival luxury group LVMH, which completed the acquisition of Tiffany in January.



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