FRANCE: LVMH Boosts Fendi Stake
Luxury goods giant LVMH Moet Hennessy Louis Vuitton SA has acquired a further 15 per cent stake in Italian fashion house Fendi as it looks to achieve its aim of turning Fendi into the leading luxury brand in Italy within five years.
The French retailer did not disclose how much it had paid members of the Fendi family to increase its stake to around 66 per cent but did reveal it would be funded over three years and would have no impact on its net debt.
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