LVMH to take over Bulgari in 3.7 billion-euro deal (Reuters)
"French luxury group LVMH will take over Italy's Bulgari in an 3.7 billion-euro all-share deal... Bulgari, established in 1884, agreed to the takeover 'in order to reinforce, in accordance with its history, values, craftmanship and identity, the long-term development of the Bulgari Group,' it said. Under the deal, the Bulgari family will become the second-biggest family shareholder in LVMH."
Off the Catwalk, the Battle for Hermès (NY Times)
'Mr. Arnault says he will not interfere with Hermès’s management or traditions. 'We are a totally peaceful investor,' he said in the interview last week. 'But as a leader in the best quality products in the world, we believe we can bring a certain savoir-faire to improve the functioning of their business.'"
Gaming Offers a Big Jackpot, if Labels Can Figure Out How to Play (NY Times)
"Gaming has become a prime topic of conversation around luxury fashion brands. And while no one yet has determined how to successfully redirect much of this video play, a number of sites are using elements like point scoring, scavenger hunts and clock countdowns to engage, entertain and, hopefully, ultimately build loyalty."
A Good Time to Be a Realist (NY Times)
"Plain tops and slim skirts turned out in wood-grain prints at Céline seemed a bid by Phoebe Philo to take fashion further into the woodwork. Make it disappear. There are probably a lot of people who think it’s high time that it did."
Fashion: Creative destruction (FT)
"[Tom Ford relaunched] with only two collections a year shown to small groups... 'I had got so caught up in being successful and making money... I had become so isolated.'... [Similarly Hussein Chalayan] keeps his presentations small. 'Being in those houses is like running on a diamond-plated hamster wheel: you have to go faster and faster and faster, and chances are still very high you will fall off.'"