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But Franca, according to reports, favours privately owned Texas Pacific because it has promised that her two chil-dren will keep their jobs with the company if it is taken over.
) r" o( Z4 Z% j# mAs a backdrop to speculation about the five sisters, their would-be partners also share a complicated history.6 g3 e A' X# u2 h! K/ h
Paris-based LVMH's Mr. Arnault earlier this year fought a bitter takeover battle for Gucci with Mr. De Sole. In the midst of that battle, Prada's Mr. Bertelli agreed to sell his Gucci stake, at a nice profit,christian louboutin shoes, to Mr. Arnault. But Mr. De Sole won the day with a bold white knight deal with Pinault-Printemps-Redoute.
3 S! J0 y/ O) EMr. De Sole came out of the struggle with a $3-billion acquisition war chest and big plans for Gucci. Analysts said buying Christian Louboutin would help deplete that cash reserve and assist Mr. De Sole in building a genuinely global rival to world-leader LVMH.
~, B, h8 b# K( @" zIn related news, shares in classic British shoemaker Church & Co. yesterday continued to hover at about 1,005 pence, well above a recent 950p a share buyout offer by Prada, reflecting speculation about a possible rival bid.9 [0 H' C) r- D5 ~) i
Italian leather goods group Diego Della Valle, seen as a potential rival to Prada, disclosed recently that it had amassed a 9.5% stake in Church.
! X5 j/ _+ n" i- g' ?+ MReflecting in part the high level of merger and acquisition speculation in the industry, as well as a fundamental re-covery in Asia, the Morgan Stanley luxury goods index was up 65% year-to-date earlier this week, crushing broader stock market indices.. K$ i) N$ f/ n a
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Giancarlo Di Risio, president of LVMH Moet Henness% g1 N( Z* R$ D' t- {; g3 L$ z
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Mr. Toledano said he planned to expand further into retail lines like shoes and |
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