LVMH Acquires of Italian jeweller Repossi
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French luxury house LVMH has taken a controlling interest in Italian jeweller Repossi.
The group quietly increased its 42-per-cent stake in the heritage jewellery brand to 69 per cent last year, and has since focused on expanding Repossi’s retail network, with openings in Tokyo and New York in the works for later this year. The brand recently launched at the Peninsula Hotel in Hong Kong.
“The goal is to finance the brand’s international expansion,” said Repossi CEO Benjamin Comar.
While the hard-luxury category only contributes a modest amount to the brand’s overall takings, LVMH’s investment signals a continuing interest in the potential of the hard-luxury market, thought to be rapidly expanding among young Asian consumers in particular.
Questions & Answers
Q.What is LVMH's current ownership stake in Repossi?
What is LVMH's current ownership stake in Repossi?
LVMH now holds a 69 per cent stake in the Italian jeweller Repossi. This was an increase from their previous 42 per cent stake, which they quietly raised last year to gain a controlling interest in the brand.
Q.What is the primary reason for LVMH's investment in Repossi?
What is the primary reason for LVMH's investment in Repossi?
The main goal of LVMH's investment is to finance Repossi's international expansion. This is part of a broader strategy by LVMH to invest in the hard-luxury market, which is seen as having significant growth potential.
Q.Which new locations are planned for Repossi's retail expansion?
Which new locations are planned for Repossi's retail expansion?
Repossi is planning to open new retail locations in Tokyo and New York later this year. The brand has also recently launched at the Peninsula Hotel in Hong Kong as part of its expansion efforts.
Q.Which consumer group is particularly important for the hard-luxury market?
Which consumer group is particularly important for the hard-luxury market?
The hard-luxury market is thought to be rapidly expanding among young Asian consumers. LVMH's investment in Repossi signals their continued interest in this segment of the market and its potential for growth.
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