The French luxury group LVMH, headed by billionaire Bernard Arnault, and already in possession of Christian Dior perfumes, is acquiring the remaining minority shares of Christian Dior for approximately $13.1 billion.
“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,” Mr Arnault, CEO of LVMH, said in a statement.
According to BoF, revenue for Dior has doubled in the past five years along with an increase in profit of 24% per year.