After LVMH Moet Hennessy Louis Vuitton SA’s deal for clothier Loro Piana SpA, Italian luxury companies from Salvatore Ferragamo SpA to Tod’s SpA may be the next targets for cash-laden conglomerates in search of growth.
LVMH Moet Hennessy Louis Vuitton SA agreed to pay 2 billion euros ($2.57 billion) for 80 percent of Italian cashmere clothier Loro Piana SpA, adding a high-quality textile producer to its burgeoning portfolio of luxury brands.
Prada SpA, an Italian maker of $3,500 pony-skin totes, reported first-quarter profit growth that decelerated to the slowest pace in at least a year and said it will focus on cost control as it opens more stores.
LVMH Moet Hennessy Louis Vuitton SA named Delphine Arnault, daughter of Chairman Bernard Arnault, as executive vice president at Louis Vuitton, tasking her with overhauling the handbag maker’s products amid weakening sales.
For decades, fashionistas have known that a Birkin bag is a safe style bet -- if you can get your hands on one. That demand makes its producer, Hermes International SCA, the surest bet in the luxury industry when it comes to sales growth.
Twenty members of Hermes International SCA ’s founding family opted against putting their shares in a new holding company, potentially offering an inroad for LVMH Moet Hennessy Louis Vuitton SA to build its stake.