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September 13, 2001
By: TOM BRANNA
Editor
LVMH, the world’s leading luxury products group, and Acqua di Parma, a prestigious Italian perfume company, today announced an agreement whereby LVMH will take 50 % stake in the company.LVMH will be responsible for developing the company’s perfumes.In a press release, LVMH said it was delighted at the prospect of working with such prestigious figures from Italy’s luxury goods industry. “This company brings an Italian brand as an excellent complement to LVMH’s perfumes and cosmetics division,” according to a statement.As part of the agreement, it is envisaged that stores will be opened in the most important capital cities in the world and new products lines will be developed, according to LVMH.
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