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US communications holding company AT&T Inc (NYSE:T) announced on Wednesday that LVMH, the luxury group, has re-appointed AT&T as its global supplier for advanced communications services.
A long and bitter battle that has gripped the luxury goods industry and pitted two of France's richest families against each other came to an unexpected end on Wednesday when LVMH and Hermes agreed to a truce.
LVMH Group and its Maisons have demonstrated their long-term commitment to the environment and can provide inspiration to many others, "said Environment Commissioner Janez Potocnik.
The value of the investment, which will be part of LVMH Fashion Group, was not revealed.
23 May 2011 - Standard & Poor's (S&P) said on Friday it has raised its long- and short-term corporate credit ratings on French luxury goods group LVMH (EPA:MC) to A/A-1 from A-/A-2.
LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh).
The venture is in line with LVMH's tradition to support young designers, Delphine Arnault, the daughter of LVMH CEO Bernard Arnault, said in a statement.
LVMH could gain access to a strong men's apparel line and beauty products, which it would be able to distribute leveraging the Sephora retail chain, and could beef up the firm's leather operations and considerably boost profit through centralisation, the analyst told the agency.
Nude Skincare has made great strides since its start, and with the benefit of LVMH's support, the brand will no doubt be able to grow substantially and innovate at a much faster pace, consistent with the successful approach LVMH has had with other brands in the perfumes and cosmetics sector," explained Hewson and Meehan in a press statement.
Bernard Arnault, Chairman and CEO of LVMH, said: "During his time with Louis Vuitton Jordi Constans has shown remarkable leadership which has earned him the respect of the entire team.
In 2011, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound long term strategy.
A spokesman of the French company reminded that LVMH had said earlier that it is not willing to sell its stake.
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