MILAN, Italy — Italian police seized more than 46 million euros ($59 million) of assets from executives linked to jeweler Bulgari including Francesco Trapani, who heads parent company LVMH Moet Hennessy Louis Vuitton SA’s watch and jewelry unit, for alleged tax evasion.
What to Make of PPR’s Christopher Kane Investment (Analysis) “But fast forward a few more years and today, both Stella McCartney and Alexander McQueen have grown into medium-sized businesses with over €100 million in annual revenue each by pursuing business models that fit, respectively, with their unique brand DNAs.” Finding Your M.O. | Part 14: Going Corporate (Education) “As in life, the time comes when every
[caption id="attachment_40456" align="alignnone" width="500" caption="Nicola and Paolo Bulgari | Source: Forbes/Getty Images"][/caption] Bulgari Brothers, Jewelers To The Stars, Are Billionaires Thanks To Tiny LVMH Stake (Forbes) "In 2011, however, French luxury empire Moët Hennessy Louis Vuitton (LVMH) acquired Bulgari in an all-share deal, handing over 3.6% of the conglomerate to the family. Last year, as LVMH’s stock rose, the Bulgaris and nephew Trapani sold a tiny sliver of their stake, reportedly to take care of taxes and other expenses." Amid U.K. Retailer Woes, a Web Fashion Foray (BusinessWeek) "As more British retailers succumb to competition from the Internet, a venture capital firm is underscoring the shift with its first investment in a fashion seller to develop its online business." On Top of the…
Swedish fashion: How less can be more (CNN) “Stockholm fashion may not have the clout of Parisian haute couture or the glamor of Milan’s upscale brands. But the city is turning its flair for sleek design into a major business export.” Bulgari family sells LVMH shares (FT) “People close to the deal said the Bulgari family had decided to reduce their stake after a strong rise in the shares in the past year and
Yelling ‘Fire’ on a Crowded Runway (NY Times) “Without question, we can count on Miuccia Prada, Raf Simons at Jil Sander, Karl Lagerfeld at Fendi and, at times, Tomas Maier of Bottega Veneta to say something with fashion, and not just offer approachable clothes. But there should be many more designers in Milan with that driving ambition. Otherwise, the future of fashion will be in jeopardy.” LVMH says it controls 98.09