½ûÂþÌìÌà luxury brand Bulgari has sold for a tidy sum. The designer jewelry firm has been acquired by LVMH for 3.7 billion Euros.
LVMH, a French Luxury group, was willing to pay the high price to obtain Bulgari’s rival share of the high-end jewelry market. LVMH already owns 60 of the world’s leading brands including Louis Vuitton, Givenchy, Fendi and Sephora.
Bulgari was established in 1884 and was family-controlled until this week’s sale. The ½ûÂþÌìÌà brand hopes to be able to benefit from LVMH’s large marketing and distribution network.
It is only fitting that the sale of the iconic ½ûÂþÌìÌà brand was finalized over dinner in Rome. The Bulgaris plan to maintain their jewelry house’s personality and independence under the new French ownership. Despite seeing the ½ûÂþÌìÌà designers lose their autonomy, the new deal means that in addition to the €3.7 billion payday, the Bulgari family will become large stake holders in LVMH’s fashion empire.
