LVMH Sells Fashion House to Falic Group
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LVMH Moet Hennessy Louis Vuitton SA has sold its Christian Lacroix fashion house to U.S.-based Falic Group, a spokeswoman for the French luxury goods giant said Tuesday.
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Luxury goods group LVMH sells its loss-making Christian Lacroix clothing label to a US investment group.
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A historic Hollywood studio that was the former headquarters of Columbia Pictures has been sold.
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The sports and celebrity management firm which represents clients such as Tiger Woods and Elizabeth Hurley is to be sold to a buyout specialist, it emerged today.
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Fastighets AB Tornet has previously announced the sale of its subsidiary Malmstaden.
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Marks and Spencer announced the sale of its historic central London headquarters for 115 million pounds.
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Premier Foods, the owner of brands such as Branston Pickle and Ambrosia Creamed Rice, buys RHM for Â£1.2bn.
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Vivendi Universal on Thursday sold a 15 per cent stake in its former water subsidiary Veolia Environnement, raising about â¬1.5bn for the French group to pay back debt and tighten its focus on media and telecommunications.
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Permira Advisers, manager of Europeâs largest buyout fund, increased its stake in the Valentino Fashion Group to 60.2 percent by purchasing Canova Finanziariaâs shares for 491.4 million euros ($668 million). The shares were bought for 35 euros each through Permiraâs Red & Black Lux SARL unit, Permira said. Valentino Fashionâs chairman, Antonio Favrin, and his associate, Dario Segre, controlled the 18.95 percent Valentino Fashion stake through Canova. Permira, based in London, offered to buy Valentino Fashion last month in a transaction valuing the company at 2.6 billion euros, lured by its Hugo Boss clothing brand, and plans to bid for the rest of the outstanding stock. Valentino is based in Milan.
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French luxury goods group LVMH Moet Hennessy Louis Vuitton posted a six percent increase in sales for the full year 2004 and said that operating profits rose 10 percent.
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Privately-owned British fashion retailer  New Look may be sold for 2 billion pounds ($3.91 billion) after  private-equity firms Apax and Permira received at least three  bid approaches for the firm, The Sunday Times said.
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Samsonite Corp. of Mansfield, the world's top luggage maker, said yesterday it has been sold to private equity firm CVC Capital Partners Ltd. for $1.1 billion.
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Fortunoff, the jewelry and home furnishings company founded in 1922, is expected to announce today that it will sell its business to Trimaran Capital Partners, a private equity firm, in a deal that values the chain at $280 million.
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Clothing company Tommy Hilfiger Corp. said Monday that it agreed to purchase the trademarks of fashion designer Karl Lagerfeld, including Lagerfeld Galleries and other Lagerfeld collections, for an undisclosed cash amount.
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Retail entrepreneur Tom Hunter and Icelandic retail group Baugur sell their 21% stake in UK department store group House of Fraser.
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Groupe Christian Dior, which controls the Christian Dior Couture fashion design business and luxury product giant LVMH, reported that first-half profits had surged by 58.6 percent.
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French drinks group Moet Hennessy, majority owned by LVMH, says it has agreed to buy Scottish whisky maker Glenmorangie for around 300 million pounds.