FRANCE: LVMH Sells Michael Kors Stake To Sportswear Holdings
Luxury goods group LVMH Moet Hennessy Louis Vuitton Inc on Thursday said it had sold its stake in US designer Michael Kors to fashion entrepreneurs Silas Chou and Lawrence Stroll for an undisclosed sum. The Paris-based group said the deal with Sportswear Holdings Limited, which is run by Chou and Stroll, forms part of its plan to sell-off non-core assets in order to focus on its leading brands.
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