Last week, LVMH Moët Hennessey announced the buying out of minority shareholders in Christian Dior for $13.1 billion.
In a statement released by the luxury conglomerate, it was noted that the Arnault Family Group, the largest shareholders of LVMH, will purchase the 26 per cent of Dior shares it does not already own. The shares are going for $282 a pop, and are being paid for with a mixture of cash and shares in Hermès.
Dior, the infamous 70-year-old French brand, joins the likes of LVMH’s other conquests, which include Bulgari, Marc Jacobs, Givenchy, and Céline. According to a company statement, this buy will start a “regrouping” of Christian Dior Couture and Parfums Christian Dior.
Investors welcomed this news, with shares in Dior rising 12pc to over CAD $377 on Tuesday, and shares in LVMH rising 4pc to CAD $333.