LVMH in R172bn fashion deal

FRENCH billionaire Bernard Arnault will combine the Christian Dior fashion brand with his LVMH luxury goods empire as part of an €12 billion (R172bn) move to simplify his business interests. Under a series of complex transactions, LVMH, the world’s largest luxury group, will buy the Christian Dior Couture brand from the Christian Dior holding company for €6.5bn. The deal will unite the 70-yearold fashion label with the Christian Dior perfume and beauty business already owned by LVMH. – Reuters