image: Chanel
Is LVMH Moët Hennessy Louis Vuitton in acquisition talks with Chanel? The Paris-based conglomerate’s honcho Bernard Arnault explicitly said, no, on Thursday at the group’s annual shareholder meeting. It is unclear exactly where this rumor, which Arnault declared as “fake news,” originated. Although, there it is worth noting that highly-followed luxury analyst Luca Solca wrote in his column for BoF in February discussing what brands LVMH and Kering will acquire next that “an LVMH tie-up with Chanel” would be “striking.”
When asked to comment on rumors that an LVMH executive had met with members of the Wertheimer family, whose billionaire brothers Alain and Gérard together own the privately-held Chanel, to discuss a potential acquisition, Arnault shot down the suggestion on Thursday in Paris. According to Mr. Arnault, “Chanel is an outstanding business, but we are not in contact with them. I don’t know who told you that, but in my opinion, it is fake news. There’s a lot of that around, you know.”
As for Chanel, which, as WWD aptly noted, “rarely comments on market rumors, also dismissed the speculation,” its chief financial officer Philippe Blondiaux told WWD in a statement: “We confirm that Chanel is not for sale and that these rumors are totally unfounded.”
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