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January 5, 2011

French regulators will debate on 6 January whether the plan proposed by Hermes family shareholders that would prevent a hostile takeover of the company can be allowed under antitrust laws.

French regulators will debate on 6 January whether the plan proposed by Hermes family shareholders that would prevent a hostile takeover of the company can be allowed under antitrust laws.

The family, who controls 73% of the Paris-based company, met in December to set up a holding company, which will control more than 50% of Hermes and have the first right to purchase any of the remaining family-owned shares as and when they are sold.

December 10, 2010

PPR, the France-based luxury goods group owned by the Pinault family, announced 9 December that it is in exclusive talks to sell its furniture and electrical equipment retailer Conforama to Steinhoff International.

PPR, the France-based luxury goods group owned by the Pinault family, announced 9 December that it is in exclusive talks to sell its furniture and electrical equipment retailer Conforama to Steinhoff International.

The deal would see South Africa-based Steinhoff pay €1.2 billion in cash for 100% of Conforama and would assume the net debt of the European company.

August 26, 2010

The Asprey family has been in the business of selling luxury goods for seven generations. William Asprey tells Claire Adler how he is putting his own stamp on his business

The seventh generation of the Asprey family to specialise in the sale of luxury goods, William Asprey, sits in a roomy office behind the shop, his desk and bookshelves brimming with books. They detail some of the finest collectibles, old and new, that money can buy – from auction catalogues, to a volume chronicling the works of one of the world's most exclusive jewellers, Buccellati, and a book about antique and rare steel watches recently exhibited by Francois Paul Journe. Huge paintings of William Asprey's father, John, and grandfather, Eric, adorn the walls.

August 18, 2010

Family ownership is a big factor in the success of the luxury consumer sector, which has rebounded sharply since the credit crisis, according to a leading analyst, writes Marc Smith.

Family ownership is a big factor in the success of the luxury consumer sector, which has rebounded sharply since the credit crisis, according to a leading analyst, writes Marc Smith. 
 
Scilla Huang Sun, the lead fund manager for Julius Baer's luxury brands fund, said: "Luxury brands that have a majority owner like a family are likely to have a long-term strategy in place, which is vital to their success."
 

July 28, 2010

LVHM, the French luxury group controlled by the Arnault family, yesterday announced strong half-year results that firmly signals a rebound in the luxury market for family-controlled firms.

LVMH, the French luxury group controlled by the Arnault family, yesterday announced strong half-year results that firmly signals a rebound in the luxury market for family-controlled firms. 

July 20, 2010

An aura of austerity might be gripping the economies of Europe and America but luxury spending seems to be little aware of it. That’s good news for many family businesses that still comprise a big part of the luxury product and service sector.

An aura of austerity might be gripping the economies of Europe and America but luxury spending seems to be little aware of it. That's good news for many family businesses that still comprise a big part of the luxury product and service sector. 

June 23, 2010

Luxury is back, but with a difference, writes Margie Goldsmith. Ultra-high-net-worth travellers are spending again, although this year, says Matthew Upchurch, CEO of global luxury travel network Virtuoso, “their travel decisions are more value driven rather than price driven.”

Luxury is back, but with a difference. Ultra-high-net-worth travellers are spending again, although this year, says Matthew Upchurch, CEO of global luxury travel network Virtuoso, "their travel decisions are more value driven rather than price driven." It would appear that the ego has gone out of the market and travellers are no longer taking extravagant, showy vacations, writes Margie Goldsmith.

June 10, 2010

Francois-Henri Pinault, the second-generation chairman and CEO of the family-owned luxury group PPR, last night awarded three fellowship grants to social entrepreneurs through the company’s Foundation for Women’s Dignity and Rights.

Francois-Henri Pinault, the second-generation chairman and CEO of the family-owned luxury group PPR, last night awarded three fellowship grants to social entrepreneurs through the company's Foundation for Women's Dignity and Rights.

June 2, 2010

Jean Cassegrain, the third-generation CEO of luxury retailer Longchamp, said he sees little for the company to be concerned about after positive sales in Europe and the successful launch of a new line during the first half of 2010.

Jean Cassegrain, the third-generation CEO of luxury retailer Longchamp, said he sees little for the company to be concerned about after positive sales in Europe and the successful launch of a new line during the first half of 2010.

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