gamesindustryblog.com
gamesindustryblog.com June 29, 2017


Christian Dior Couture bought by LVMH for US$7 billion

25 April 2017, 12:57 | Ignacio Smith

A woman walks past a Dior shop in downtown Brussels Belgium

A woman walks past a Dior shop in downtown Brussels

In their announcement, LVMH headed by Bernard Arnault announced that it would buy the 26 percent of shares of the Christian Dior pie that it doesn't now own.

Set up 70 years ago, Christian Dior Couture "is one of the most iconic brands worldwide", LVMH said.

"On the strength of its history and favorable prospects, Christian Dior Couture will be a source of growth for LVMH", it said.

Mr. Arnault said the plan would simplify the structure of the businesses, which had "long been requested by the market", as well as strengthen LVMH's fashion and leather goods division with the addition of 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.

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.

Google is reportedly building its own ad-blocker into Chrome
The tool charges advertisers - including Google - a fee to be included in its 'Acceptable Ads' program and to whitelist their ads. Citing unnamed sources, the report also claims that Google is still considering how best to implement its plans.

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

The deal reshuffles LVMH's complex corporate relationship with Christian Dior and the Arnault family.

- Semyrhamis now owns 74.1 percent of Christian Dior's share capital and 84.9 percent of its voting rights.

LVMH will pay 260 euro per share and shareholders can choose to be paid in cash or to get Hermes shares in return. Revenue at Christian Dior has doubled over the last five years, as profitability has soared during the same timeframe.

That represented a premium of 14.7 percent over the closing share price on Monday and a premium of 18.6 percent over the average share price during the past month.

Analysts also hailed the long-awaited deal.



Other News

Trending Now

FDA further restricts pain medication use in kids
Conclusively, parents should actively check for any warning labels on medication that they plan to give to their children. Labels for both codeine and tramadol are being updated to include additional "Contraindications and Warnings".

French Election: A win for pollsters; good for euro
If Le Pen wins, that would be a resounding victory for the populist wave reflected by the votes for President Donald Trump and Brexit.

Tatas to bid to keep Taj Mansingh
The court also said that the blemish-free record of IHCL may be taken into account by NDMC while auctioning the iconic property. Meanwhile, in a bid to create transparency in the bidding process, the NDMC will conduct an e-auction of the hotel.

Patriots open season hosting Chiefs on Thursday Night Football
Exhibit A: The New York Jets' 2017 schedule, released along with every other team's schedule by the league this evening. The Chiefs lost to the Patriots, 27-20, on January 16, 2016; Sherman caught one pass for a yard in the contest.

20 children killed when minibus hits truck in South Africa
In a statement, emergency medical service ER24 described arriving at the scene, where fire-fighters were tackling the flames. A department of education spokesman Steve Mabona said some of the bodies of the children were charred beyond recognition.

Suspect in Facebook video killing shoots himself to death
"As the vehicle was spinning out of control from the PIT maneuver, Stephens pulled a pistol and shot himself in the head". Until the investigation is complete, Williams said, " we won't actually know where he was and what he was doing ".

Saudi King Salman fires top officials, restores benefits to state employees
In other changes, Salman dismissed minister of information and culture Adel Al Turaifi and replaced him with Awad Al Awad. Meanwhile, Saudi Minister of State for Civil Service Khaled Al Araj was removed from his post and set to be investigated.

Love game for Serena: Spox says Williams is pregnant
The Grand Slam victor , 35, teased the announcement on Snapchat Wednesday morning, posting a pic that was captioned, "20 weeks". Williams wouldn't be the first top women's player to return to competition after having a baby, but she would be the oldest.

Trump's budget chief says money for border wall a must
It looks as though they're leaning toward the latter, which would result in an omnibus bill that's pretty friendly to Democrats. Four in 10 voters rated congressional Republicans as generally bad, with 38 percent saying the same of Democrats in Congress.

Koeman wants 'improved' top scorer Lukaku to stay at Everton
"There wasn't any row, I should know about that because it was me who spoke to him". Though if supporting Everton has taught me anything it is to expect the unexpected.