SectorWrap '19-Select 5: Mergers & Buyouts

04 Jan '20
2 min read
Pic: Tiffany & Co
Pic: Tiffany & Co

Luxury group LVMH to acquire Tiffany for $16.2 billion

LVMH Moët Hennessy Louis Vuitton SE (LVMH), the world’s leading luxury group, has signed an agreement to acquire Tiffany & Co, the New York-based global luxury jeweller. As per the definitive agreement, LVMH will acquire Tiffany for $135 per share in cash, in a transaction with an equity value of approximately €14.7 billion or $16.2 billion. The acquisition of Tiffany will strengthen LVMH’s position in jewellery and further increase its presence in the US…

Reliance Retail acquires ITC’s John Players

India’s Reliance Retail (RRL) signed an agreement with ITC Ltd to acquire its mid-segment menswear brand John Players. Launched in 2002, the brand will boost RRL’s fashion and apparels portfolio. The brand was acquired by RRL for `150-200 crore. The acquisition may also improve ITC’s non-tobacco FMCG business margins. Reliance gets the assets of John Players, which includes the brand and distribution rights through 750 stores, including 65 exclusive franchise outlets. ITC has an ambitious target of touching `1 trillion in revenues from non-cigarettes FMCG business— worth over `11,000 crore annually—by 2030 and expects the segment to drive its revenue in the next decade.

Dubai-based VIC buys Roberto Cavalli Group

UK’s CMA blocks merger between Sainsbury’s, Asda

Boohoo acquires British brands Karen Millen & Coast

Boohoo completed an asset purchase agreement for renowned British brands Karen Millen and Coast. The brands were put up for sale by Icelandic bank, Kaupthing. Founded in Manchester in 2006, Boohoo is an inclusive and innovative brand targeting young, value-orientated customers. Boohoo has acquired the online business and all associated intellectual property rights from the administrators of Karen Millen Fashions and Karen Millen Retail, both of which entered into administration on August 6, 2019, for £18.2 million, funded by the group’s existing cash resources.

To read more subscribe to January 2020 edition of Fibre2Fashion.

For queries & brickbats, write to: richabansal@fibre2fashion.com

Fibre2Fashion News Desk (RKS)

Leave your Comments

Esteemed Clients

Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD

Recommended

Advanced Search