Italian 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 Italian 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 Italian 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 Italian 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.
