Royal van Lent, the Dutch yacht maker, has been purchase by LVMH
The Louis Vuitton Group, LVMH, has purchased Dutch yacht manufacturer Royal van Lent. The yacht company make ultra high end yachts, with an average selling price of 30 million euros. The sellers are Dutch investment firm Egeria and the acquisition price is worth approximiately 11 times net profit.
The yachts are sold under the Feadship brand and was founded 160 years ago. Since 2000, the worldwide order book for custom yachts has grown by more than 20% per annum, so this is very much a growing market.
Antonio Belloni, the Group Managing Director at LVMH commented, “This acquisition is an outstanding opportunity for LVMH to welcome to the group as prestigious a business as Royal van Lent”. The transaction is now subject to clearance of the relevent competition authorities.
Luxury Jewellery Competition is launched by Gladstone
Competition gives Lusso readers the chance to win a grand's worth of Gladstone Jewellery by taking a “How Romantic Are You?” quiz. This co-incides with the company opening their latest boutique in London's Piccadilly.
The ultimate marathon shoe
As the cold winter is now well upon us, its becoming common to see runners out on the footpaths, head to toe in warm clothing, getting in the miles before April's London Marathon. In fact, if you live in north Bucks, you may have seen my girlfriend and I out and about in training.
Panerai expand to New York City
Luxury watch manufacturer Officine Panerai is just about to open a boutique store in New York City, to add to their American presence in Los Angeles.
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