LVMH: Loro Piana Approached Us

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July 09 (Bloomberg) -- Bloomberg’s Andrew Roberts reports on LVMH buying Loro Piana and how the deal came about. He speaks on Bloomberg Television's “The Pulse.” (Source: Bloomberg)

They approached them and what they are saying is that the brothers, who are from the sixth generation of this family , they felt that they were going to take the business to the next level.

This is a trend in the industry.

Smaller buyers are pairing with businesses to compete, essentially.

We look at earlier this year.

We have an 80% stake in a very high producer.

This seems to be the trend.

The luxury industry is consolidating.

Are there any more companies out there that are up for grabs?

I think, you know, the price is always right.

There is always a deal to be done.

There are a lot of businesses out there.

They can do it with some extra funding.

They said that they are going to decide, by the end of this year, if they are going to be but privately or publicly.

There are a lot more people interested in making investments.

You have the large groups and private equity that is returning to the secular.

-- sector.

You have wealthy families , i'm thinking of the qataris, who are taking interest.

There are people who are seeking those targets.

It is an interesting dynamic.

Bloomberg european luxury reporter, andrew.

Thank you so much.

This text has been automatically generated. It may not be 100% accurate.


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