LVMH boss Bernard Arnault wants the sale of Marc Jacobs to be as lucrative as Michael Kor´s hugely successful IPO. Kors - who went public in 2011 - now has a market capitalisation of $15 billion, with stock having surged 215 per cent.
"If we could do something along those lines, or even half, everyone will be happy," Arnault said.
Jacobs left Louis Vuitton in October last year, to focus his attentions on his eponymous label which is now heading for an IPO. He was replaced by Nicholas Ghesquiere, who makes his catwalk debut on March 5 at Paris Fashion Week. Arnault is confident that his new recruit will not disappoint.
"If we could do something along those lines, or even half, everyone will be happy," Arnault said.
Jacobs left Louis Vuitton in October last year, to focus his attentions on his eponymous label which is now heading for an IPO. He was replaced by Nicholas Ghesquiere, who makes his catwalk debut on March 5 at Paris Fashion Week. Arnault is confident that his new recruit will not disappoint.
 |
| Marc Jacobs |
LVMH also reported a slight rise in profits in 2013, increasing by 0.4 per cent to €3.43 billion euros compared with €3.42 in 2012. When asked why growth wasn't faster, Arnault attributed the figures to "less dynamism" in emerging markets, especially China; weakening of currencies such as the dollar and yen; as well as a "more reasonable growth strategy" at Louis Vuitton and a slower rate of store openings.
No comments:
Post a Comment