Christian Dior Couture Is Being Bought By LVMH

BY Alexandra Venison / Apr 25 2017 / 15:26 PM

Set to reinforce the luxury giant fashion and leather goods division

Christian Dior Couture Is Being Bought By LVMH
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Proving that the luxury market is once again becoming the forefront of fashion, LVMH has its eyes set on Christian Dior in a merger that has been a long time coming. Chairman and CEO of both companies, billionaire Bernard Arnault is already in the process of acquiring the 26 percent of the Parisian fashion houses shares he and his family business do not already own, for a staggering Dhs48 billion dirhams (12.1 billion euros).

In a statement, Arnault explained, “The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH's Fashion and Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide.” Purchasing the shares via Hermes stocks and cash, this will see the value of Dior shares will go up to approximately Dhs1,040 (260 euros) a share premium of 15 per cent on the closing shares Dhs907 (226.85 euros) on Monday.