Bulgari or Bvlgari depending on how you want to read it was till recently owned and controlled by a family that refused to sell no matter what the price. But it seems it was only a question of quoting the right one. Bernard Arnault already the owner of brands such as Louis Vuitton, Givenchy, Moet champagne has now grabbed Bulgari by offering a stunning 60 percent premium over the price.
The Bulgari-Trapani family (erstwhile owners) will now have about three percent of the LVMH empire which allows them to have two seats on the board. Only the minority stakeholders of Bulgari are now left out but its widely expected that Arnault (of the LVMH empire fame) will make a bid for these too and we see no reason for that to be refused either.
Things are about to get very interesting in the luxury market thanks to this French tycoon who knows his Prada from the Gucci’s merely by glancing at the financial statements.