Bernard Arnault, chairman and CEO of French luxury conglomerate LVMH is reportedly considering “a possible takeover of its Swiss rival Richemont,” IDEX Online reports.
Arnault, according to the Swiss newspaper Finanz und Wirtschaft, is specifically eyeing Cartier, Richemont’s primary jewelry brand. According to the report, “it’s still little more than a whisper. But in the luxury industry, there is whispered talk that Bernard Arnault wants to take over Swiss competitor Richemont. More specifically, he is said to be targeting Richemont’s industry-leading jewelry brand, Cartier.”
LVMH Moët Hennessy Louis Vuitton,owner of global luxury jewelry brands including Louis Vuitton, Christian Dior, Sephora, Fendi, purchased Tiffany & Co to its list of 75 maisons in January 2021 for $15.8 billion. Richemont has 26 maisons, among them Chloe, Montblanc, IWC, A. Lange & Sohne, Van Cleef & Arpels, Jaeger-LeCoultre, Panerai, Piaget and Vacheron Constantin.
