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luxury

October 23, 2020

Forrest mining family office Tattarang diversifies into apparel brand RM Williams, Ferragamo family denies minority stake sale claim, Louis Vuitton and Christian Dior power LVMH rebound.

Forrest mining family diversifies into apparel brand RM Williams

Andrew Forrest, the Australian mining magnate and family office principal, says he is “incredibly proud and humbled” to return a former family business to Australian ownership in a $135 million acquisition indirectly from the French family-owned luxury giant LVMH.

FB Roundup: Walmart, Barbour, Grosvenor

April 22, 2020

Walton family’s Walmart hires 200,000 furloughed staff and pauses Asda sale, Barbour family switches production from clothing to personal protection equipment, Grosvenor Estate targets help at vulnerable businesses and families.

Walton family’s Walmart hires 200,000 furloughed staff and pauses Asda sale

Walmart, the world’s biggest family business, reached its goal of hiring 150,000 new employees by the end of May in less than a month and has pledged to hire an extra 50,000 staff as part of the US retailer’s response to the coronavirus crisis.

Cookson Adventures: The chase of the thrills

January 28, 2020

Founded in 2009, Cookson Adventures has pioneered the concept of world firsts in luxury adventure travel. Henry Cookson, the company’s founder, reveals how his team delivers incredible travel experiences for his clients in family business.

Family business Lego Group invests in adult creativity in deal with family office NXMH

November 27, 2019

The Lego Group is building its connections with adult consumers by buying an online fan platform from the family office of a South Korean tech entrepreneur.

The Lego Group is building its connections with adult consumers by buying an online fan platform from the family office of a South Korean tech entrepreneur.

Arnault family-owned LVMH buys Tiffany & Co for $16 billion

November 25, 2019

The French family behind the world’s largest luxury group LVMH has made its biggest ever acquisition by adding the US jewellery brand Tiffany & Co to its portfolio for an up-scaled offer of $16 billion.

The $51.5 billion (€46.8 billion) LVMH empire will acquire the $4.4 billion Tiffany for $135 per share in cash, in a transaction with an equity value of $16.2 billion (€14.7 billion). The luxury goods giant increased its offer from $120 per share last month.

Family owned Fiat Chrysler, LVMH move on multi-billion dollar mergers

October 31, 2019

European family business titans Fiat Chrysler and LVMH look to consolidate their dominance in their automaking and luxury goods markets in an uncertain world by eyeing multi-billion dollar mergers.

European family business titans Fiat Chrysler and LVMH look to consolidate their dominance in their automaking and luxury goods markets in an uncertain world by eyeing multi-billion dollar mergers.

The Italian Agnelli family, which controls Fiat Chrysler through its holding company Exor, was expected to approve the proposed $48 billion union with Peugeot-owner PSA, itself 12.2% owned by the French Peugeot family.

Succession lessons as grande dame of luxury hospitality Jeanne Augier dies without heir

January 10, 2019

Share, anticipate and plan are the lessons family business founders can learn from Jeanne Augier, the grande dame of French luxury hospitality, who died aged 95 this week without naming an heir to her legendary palatial hotel.

The board of directors and 180 employees of the Negresco Hotel in Nice said they were “extremely sad” to announce the passing of Jeanne Augier, owner and chief executive, on 7 January.

FB Roundup: Chanel, Grammer, and Thorntons

June 29, 2018

Chanel reveals $10 billion turnover, Wang family buy German auto parts maker, and British chocolate legend dies

Chanel reveals $10 billion turnover

Chanel has broken a century of silence over its financial results, revealing it brought in $9.6 billion in 2017.

The company, owned by the Wertheimer family, has long been suspected to rule the luxury brands, and its first results release confirmed this. Its nearest competitor, Gucci, turned over $7.2 billion in 2017.

The jet set: Hussain Al Alawi on Prestige Connection

October 31, 2014

Heading to university in the US, Hussain Al Alawi, 33, got a taste of the highflying lifestyles of some of his classmates. But with a father unwilling to bankroll such extravagance, the third-gen got entrepreneurial

Ottavio Missoni, founder of fashion family business, dies aged 92

May 9, 2013

Ottavio Missoni, who together with his wife founded the eponymous Italian fashion house famous for its geometrical patterns and colourful knitwear, has died aged 92.

Missoni, nicknamed Tai, was born in what is now Dubrovnik, in the Kingdom of Yugoslavia, the son of a sea captain and an Austrian countess. He was a student world athletics champion but when war broke out he found himself an infantryman, and was held a British prisoner of war for four years after fighting at El Alamein.