During the 2025 results presentation, Bernard Arnault not only avoided discussing LVMH leadership succession, as some investors would have liked, but also hinted at potential M&A, emphasizing how skillfully he grows brands. Many interpreted this as a subtle message to Richemont and Armani. Meanwhile, between the death of founder Valentino and his funeral, Mayhoola and Kering finalized a €100 million recapitalization of the company.
Arnault hints at M&A
Contrary to the past, this time Arnault (in photo from Shutterstock) left the stage immediately after his speech, avoiding analysts’ and investors’ questions that would likely have pressed him on succession. But one remark caught the attention of observers: Arnault spoke about the €1 billion investment in Loro Piana’s capital — a company bought for around €2 billion and now worth €10 billion. “Do you see the ratio? Good… I say this so you might mention it to others. When companies partner with us, they grow very well. And secondly, for shareholders, families in particular, it becomes a good deal”. Fashion Network wonders whether this message was aimed at Johann Rupert of Richemont and/or at Armani, two companies that have had, and will have, dealings with LVMH’s acquisition ambitions, albeit on different levels.
Valentino’s recapitalization
Kering and Mayhoola proceeded as planned with the recapitalization of the Valentino brand. The two holding companies own 30% and 70%, respectively, of MFI Luxury, the holding that controls the Roman fashion house. According to Il Messaggero, the meeting approving the €100 million capital increase was held two days after the founder’s death and two days before his funeral. The recapitalization, it should be noted, had already been scheduled.
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