Bernard Arnault, quite simply put, is the most powerful man in the luxury business. Just when you think he can’t become more of a fashion superman (after the Hermes debacle which is still playing out), he tricks us all and swoops in to pick up another massive luxury goods company. This time the prize was Bulgari, the famed Italian jeweler. Arnault’s company, LVMH, has acquired a 50.4 percent of shares in the company. It has been reported that LVMH will pay €4.3 billion euros for this privilege.
For more details on the deal, read the full report on WWD.