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Acquire Michael Kors
LVMH in Talks to Acquire Michael Kors
European conglomerate LVMH Moet Hennessy Louis Vuitton is in discussions to
acquire New York-based Michael Kors, according to sources. Société Générale
S.A., a French multinational banking and financial services company
headquartered in Paris, is said to be advising LVMH on a potential bid. LVMH has
declined to comment on the Kors acquisition speculation.
It would not be the first time Louis Vuitton’s parent company held a stake in
the Kors brand. LVMH Moët Hennessy Louis Vuitton acquired a one third stake in
the brand in 1999, while Kors, himself, was serving as the creative head of
LVMH-owned Celine. The Bernard Arnault-chaired conglomerate sold off its entire
stake several years later in January 2003.
