Business

Saturday 24 August 2019

Changing the Chanel: Even LVMH looks set to baulk at €100bn takeover

Naomi Campbell
Naomi Campbell

Supermodel Naomi Campbell is pictured at the Chanel show at Paris Fashion Week as speculation over the ownership of the fashion house intensifies since the February death of creative chief Karl Lagerfeld.

But it seems that even the world's largest luxury company - LVMH - thinks a takeover would be too big to swallow. Chanel is worth nearer to €100bn than the €50bn that some analysts have estimated, so it's unclear who might be interested, LVMH managers told analysts at an investor day in Paris.

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The comments only add fuel to the fire over the future of Chanel, with owners Alain and Gerard Wertheimer having both reached retirement age.

"Should the owners want an exit strategy - which they often said they don't - an IPO looks probably a more likely scenario," said Jelena Sokolova, an analyst at Morningstar.

Bloomberg

Irish Independent

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