Investors appeared unmoved this morning as a rumour circulates that LVMH is lining up a move to acquire rival luxury group Richemont.
LVMH shares were up a modest 2.5% in early trading and Richemont was up just 1%.
The rumour originated in a report by Finanz and Wirtschaft, which itself issued the caveat that its source was “whispers behind closed doors”.
LVMH is currently valued at 390 billion euros, while Richemont has a market capitalisation of 74 billion euros.
LVMH bought Tiffany & Co. in 2021 and its owner, Bernard Arnault is known to admire the jewel in Richemont’s crown, Cartier.
If the acquisition were to go ahead, LVMH would dramatically strengthen its watchmaking operation with historic marques like Vacheron Constantin, Panerai, Jaeger-LeCoultre and IWC becoming stablemates with TAG Heuer, Hublot and Zenith.
Jewellers Bulgari, Tiffany, Van Cleef & Arpels would also come under the same umbrella.
