Cova

Today, courtesy of our friends at System magazine, BoF brings you an interview with LVMH's Yves Carcelle on why the luxury goods conglomerate fought to purchase a family-owned Milanese coffee shop.

"Other foreign investors, notably Qatar’s royal family and one of its state investment funds, have also been shopping for bargains among world-famous

Sales of luxury goods are slowing and, given the uncertain outlook, investors are taking profits, reports Pierre Mallevays, founder and managing partner of Savigny Partners.

"LVMH, the world’s largest luxury goods group, has bought a majority stake in Milanese coffee house Cova, once the haunt of composers Giacomo Puccini