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lvmh bags germany's rimowa for $715 million - polycarbonate

by:Cailong     2021-08-17
lvmh bags germany\'s rimowa for $715 million  -  polycarbonate
MakerLVMH (French luxury)LVMUY)
Has agreed to control the family-
The company signed an agreement with the buyer to provide the buyer with the first German fashion company.
LVMH's labels include Kristin Dior, Selin, Donna Karan and Mark Jacobs, which said it would pay 0. 64 billion euros ($714. 7 million)
Rimowa expects revenue to exceed 80% euros this year, holding a 0. 4 billion stake in the company.
German group Paul Morszeck was founded in Cologne in 1898, claiming to have made the first aluminum suitcase in 1937.
Subsequently, it introduced the first waterproof metal case, as well as a product line of polycarbonate and luggage with "smart" safety features.
Known for its unique parallel grooves, Rimowa's products are used by celebrities, including Bad actor Aaron Paul and Israeli model Bar Refaeli.
Paul's grandson, Dieter moshke, will continue to invest in the company and continue to lead the company with one of the three sons of Bernard Arno, Chairman and CEO of LVMH, Alexander Arno.
Lvmh ceo Alexander Arno said in a statement: "Rimowa has revolutionized the luggage industry for more than a century, and its suitcase is based on its unique performance, quality and design
In the second quarter, lmvn's revenue exceeded analysts' profits and expectations, with revenue of 37 euros last year.
5 billion. The market value was only € 77 billion in Paris on Tuesday at the beginning of the month.
Third Report
Quarterly results for October. 10.
Its share price recently rose 0. 7% at €153. 30.
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