LVMH’s Latest Moves: Richemont Stake By Arnault And L’Épée 1839 Acquisition
LVMH has made headlines with the revelation that its CEO, Bernard Arnault, holds a personal stake in Richemont, a key competitor in the luxury goods market. This stake is part of a broader portfolio of investments owned by the Arnault family in publicly traded companies. Despite the significant buzz generated by this news, both LVMH and Richemont have declined to comment. The revelation has sparked rumors, especially in light of the ongoing discussions about succession plans for Richemont’s 74-year-old chairman, Johann Rupert. Following the news, Richemont’s shares experienced a 2.8% increase.
In addition to this, LVMH has announced the acquisition of Swiss luxury clockmaker L’Épée 1839, along with its parent company Swiza. This strategic acquisition, led by LVMH Watches CEO Frédéric Arnault, is set to enhance the conglomerate’s horological holdings. L’Épée 1839 is celebrated for its avant-garde and often sculptural timepieces, which draw inspiration from a variety of sources, including the automotive industry and Star Trek. The brand has also frequently collaborated with MB&F, reflecting both companies’ commitment to innovative design.
L’Épée 1839, established in 1839 by Auguste L’Épée, began as a producer of watch components and music boxes. Over the years, the company expanded its repertoire to include carriage clocks and various other clock designs. Today, it is known for its unique and futuristic clocks. With this acquisition, L’Épée 1839 joins other prestigious names under the LVMH umbrella, such as Chaumet, Tiffany & Co., TAG Heuer, Zenith, Bulgari, and Hublot. Notably, L’Épée has previously created clocks for Tiffany.