Swiss paper Finanz und Wirtschaft reported on Wednesday that there are “whispers” in the luxury fashion industry regarding a potential takeover of Richemont ( OTCPK:CFRHF ) by LVMH ( OTCPK:LVMHF ).
At the least, the paper reports that LVMH ( OTCPK:LVMUY ) CEO Bernard Arnault has his sights on jewelry and watch brand Cartier. The brand is reportedly seen as a key complement to the Tiffany brand that could accelerate the jewelry segment to match the dominance in leather goods that the French conglomerate courts via its Christian Dior and Louis Vuitton brands.
A potential sale is seen as problematic, however, as the Rupert family holds a controlling stake in Richemont. The family patriarch, Johann Rupert, is seen as averse to a potential sale.
Read more on Richemont’s rejection of an activist shareholder proposal in 2022 .
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LVMH considering takeover of Richemont - report