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They might not scream like humans to the tune of Taylor Swift’s “Trouble”, but vicunas do sporadically shed fine wool for the making of four-figure sweaters. This is why LVMH Moet Hennessy Louis Vuitton has forked out $2.56 billion for an 80 percent stake in Loro Piana, a textile firm in Northern Italy that sources the wool of the ruminant family’s latest It Animal.
AMF, France’s stock market regulator, is charging LVMH the largest fine it has ever imposed at a whopping €8 million ($10 million). The reason? The giant’s controversial purchase of a stake in Hermès, of course.
Slander, blackmail, insider trading — the accusations lobbied in the war between LVMH and Hermès read like plot points in a particularly juicy Wall Street TV drama. Now there’s one more cliffhanger being thrown into the mix: LVMH may have to fork over 10 million euros for failing to disclose their intent to amass what was, as of December 31, a 22.6 percent stake in their rival company. Gulp.
Never a dull day in luxury land!
Despite the abrupt departure of head designer Nicolas Ghesquière, Balenciaga will not be without a leader for long, according to report yesterday from the AFP.
CEO of LVMH Moët Hennessy Louis Vuitton and France’s richest man Bernard Arnault got a very rude awakening when he opened up the newspaper this morning — a picture of him on the cover of Libération under the headline “Casse-toi riche con!”, which can be (politely) translated to “Get lost, rich idiot!”, was staring back.
Hermès International filed a complaint against LVMH Moët Hennessy Louis Vuitton almost two months ago, reportedly accusing the conglomerate of insider trading and stock price manipulation. Not one to back down from a legal battle, LMVH is now filing a retaliatory complaint.
Marc Jacobs and the Louis Vuitton Express have just made their big debut in Shanghai, where the designer recreated his breathtaking fall 2012 Paris show and celebrated the re-opening of the brand’s enormous Maison store.
Louis Vuitton‘s artist collaborations have a history of becoming cult classics. Well, LV just unveiled its newest collab with pop artist Yayoi Kusama.
Planning a trip to Saint-Tropez this summer? Well, here’s where to stay: White 1921, LVMH‘s brand spankin’ new hotel, which opened Thursday on the Place des Lices.
French billionaires just can’t catch a break these days! First PPR chief François-Henri Pinault gets himself embroiled in an ugly child support suit with Linda Evangelista that threatens to drain his bank account of $46,000 per month, and now LVMH CEO Bernard Arnault is compared to a pig farmer by his star designer Marc Jacobs.
You can hereby consider 27-year-old French designer Maxime Simoens one to watch.
Jean-Paul Guerlain has been found guilty of making racist remarks on French television during an interview in 2010. A French court fined the 75-year-old perfumer $8,000, as well as an additional $5,370 each to Movement Against Racism and for Friendship, SOS Racism Association, and French Representative Council of Black Associations, the three anti-racism groups that acted as civil plaintiffs in the case.
Buried deep (and we do mean deep) in a story about how much fashion Dior is selling these days is the latest bit of news about the negotiations between designer Marc Jacobs and the executives at LVMH trying to draw up a contract that will entice Jacobs to become head of the French fashion house.
Kate Moss is getting into the bauble game. No stranger to designing, the supermodel is lending her talent to jewelry house Fred.
A couple of weeks ago, a Brazilian website by the name of Glamurama reported that Marc Jacobs was in talks to take over John Galliano‘s empty seat at Dior. The fact that the story was unsourced (and the fact that the website features a mouse trail of rainbow pixels) gave us pause, but that didn’t prevent it from getting picked up. Today, Women’s Wear Daily weighs in with a much more thoroughly reported take on the story — and all of a sudden a Jacobs-helmed house of Dior is looking a lot more likely.
Bernard Arnault and the men in the boardroom at LVMH can say goodbye to being members of an executive boy’s club. The company announced today that it has signed a voluntary pledge to promote more women to senior executive positions, and aims to increase the number of women on its corporate boards to 30 percent by 2015.
Opening Ceremony is one of the coolest companies around, and its owners Humberto Leon and Carol Lim are equally as awesome. The two have a lot whole on their collective plate, but they’re poised to get even busier as the new creative directors of Kenzo.
There are some times — well, a lot of times — that we wished we lived in France. This is one of them! Why? Because the folks over at Louis Vuitton Moët Hennessey are throwing open the doors of their ateliers, workshops, kitchens, and vineyards to the public.