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Translated by
Nicola Mira
Published
Nov 14, 2016
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LVMH to acquire Michael Kors too?

Translated by
Nicola Mira
Published
Nov 14, 2016

LVMH is reportedly negotiating the acquisition of Michael Kors. According to financial news service StreetInsider, French merchant bank Société Générale is assisting the luxury goods group with making an offer.
 

Michael Kors - Michaelkors.com


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

The galaxy of the Bernard Arnault group is currently home to labels such as Louis Vuitton, Bulgari, Fendi, Givenchy, Kenzo, Loro Piana, TAG Heuer, Sephora and Acqua di Parma, to name but a few. The group's most recent acquisition, announced last October, was that of an 80% stake in German premium luggage manufacturer Rimowa.

US fashion label Michael Kors was launched in 1981 by the eponymous designer. In the non-calendar 2015-16 fiscal year, ending April 2, the New York label grew 7.8% to $4.71 billion (€4.217 billion) in revenue, compared to a 32% rise recorded a year before.

At constant exchange rates, the growth was however equivalent to 11.7%. Michael Kors' 4th quarter results were also worth noting, with sales rising by 10.9% (+11.7% at constant exchange rates) and a revenue of $1.2 billion. On the other hand, the group's profitability is worsening.

On the entire fiscal year, net income fell by 4.7% to $839 million (€751.2 million), and in the 4th quarter it fell again, by 3%, down to $177 million. 

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