Certainly a landmark acquisition for LVMH, but a very different proposition to Bulgari. China will likely be a key focus for growth, but this will need significant strengthening of the brand. No mean feat, even for this Parisian powerhouse!
Mr Arnault, 70, suggested that LVMH could do for the 182-year-old American firm what it has done for Bulgari since buying the Italian jewellery brand in 2011. “We have a bit of experience in jewellery,” he said. “We have multiplied Bulgari’s operating profit by five.”