LVMH reportedly considering Ralph Lauren purchase
Online news publication Axios reported the news on Tuesday, citing sources familiar with the situation. Sources said that Ralph Lauren, founder of his namesake label, has been considering a succession plan for the business.
LVMH posted revenues of £53.4 billion (€64.2 billion) in 2021, up 44% year on year and up 20% compared to 2011 and reported organic revenue growth of 36% compared to 2020 and 14% compared to 2019.
The luxury conglomerate has been on a purchasing spree and after acquiring New York-based jeweller Tiffany in January last year it has continued investing in US-based companies, acquiring a minority stake in the New York-based label Aimé Leon Dore for an undisclosed sum earlier this year.
Last summer LVMH also acquired a majority stake of 60% in Virgil Abloh's OffWhite.