January 16, 2001 |
A French newspaper said that luxury goods group LVMH Moet Hennessy Louis Vuitton and South African diamond giant De Beers were close to announcing a joint venture to market branded diamond jewelry. La Tribune financial daily, in which LVMH owns a stake, quoted sources close to the deal as saying the joint venture would be announced today in London. However, a spokesman for De Beers said there would be no news conference and said the company had no comment.
November 3, 1989 |
A Paris court failed on Thursday to settle a yearlong boardroom battle between Bernard Arnault, chairman of LVMH Moet Hennessy Louis Vuitton, and his rival Henry Racamier for control of LVMH, France's largest luxury goods firm. The court was expected to decide whether Arnault's key 5% stake in LVMH was valid, but the matter was left in limbo. The court ruled that while the stake was legal, the way it was issued was irregular.
September 11, 2002 |
APPAREL * A federal judge approved Donna Karan International Inc.'s settlement with shareholders who sought more money in a buyout last year by France's LVMH Moet Hennessy Louis Vuitton. LVMH, the world's largest luxury goods maker, said in late 2000 that it would buy the New York-based clothing designer for $8.50 in cash per share. After six shareholders sued in Delaware Chancery Court, the price was raised to $10.75, a $22-million increase, and lawyers agreed to settle the lawsuits.
October 13, 1999 |
Italian fashion house Fendi agreed to sell a controlling stake in the company to a joint venture of leading French luxury goods company LVMH Moet Hennessy Louis Vuitton and Italy's Prada fashion house. LVMH and Prada will pay about $425 million for a 51% stake and plan to build Fendi into a bigger global brand, sources said. Fendi, whose hot-selling trademark handbags retail for several hundred dollars, has a chain of 160 franchised boutiques that interests LVMH, the sources said.
May 13, 1999 |
In an unlikely combination of "Hick" meets haute couture, French luxury goods purveyor LVMH Moet Hennessy Louis Vuitton has acquired Hard Candy, a Beverly Hills-based cosmetics maker known for its edgy marketing, street style and wildly colored, weirdly named nail polish. Terms of the deal were not disclosed, but Hard Candy's 26-year-old founder, Dineh Mohajer, will remain a minority shareholder and creative force in the firm.
July 1, 2008 |
EBay Inc. was ordered by a French court to pay nearly $63 million to luxury-goods maker LVMH, which produces Louis Vuitton- and Dior-labeled products. The French company, whose full name is LVMH Moet Hennessy Louis Vuitton, had claimed in a lawsuit that the Internet auctioneer had not done enough to stop the sale of counterfeit goods. The ruling also banned EBay from selling perfumes by the company.