French Conglomerate LVMH Reportedly In Talks To Acquire Michael Kors

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Michael Kors Fall 2016 Ready-To-Wear.

French multinational luxury goods conglomerate LVMH MoĂ«t Hennessy Louis Vuitton is reportedly in talks to acquire New York-based Michael Kors. It was reported that “SociĂ©tĂ© GĂ©nĂ©rale S.A., a French multinational banking and financial services company headquartered in Paris, is said to be advising LVMH on a potential bid. Michael Kors and LVMH declined to comment at the current moment.

It would not be the first time Louis Vuitton’s parent company held a stake in the Michael Kors brand. LVMH MoĂ«t Hennessy Louis Vuitton acquired a one third stake in the brand in 1999, while Kors, himself, was serving as the creative head of LVMH-owned Celine. The conglomerate sold off its entire stake several years later in January 2003.

The 59-year-old American designer launched his namesake label in 1981 at Bloomingdale’s, Bergdorf Goodman, Lord & Taylor, Neiman Marcus and Saks 5th Avenue.

Last month, we reported that the Bernard Arnault-chaired conglomerate is buying an 80% stake of Germany‘s Rimowa from Dieter Morszeck, the grandson of the founder for $716 million (see it here). This past July, we also reported that LVMH agreed to sell Donna Karan International to G-III Apparel Group Ltd. for an enterprise value of $650 million (see it here).

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Michael Kors Fall 2016 Ready-To-Wear.

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Michael Kors Fall 2016 Ready-To-Wear.

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Michael Kors Fall 2016 Ready-To-Wear.

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Michael Kors Fall 2016 Ready-To-Wear.

Photos Credit: Yannis Vlamos / Indigital.tv

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.