A new beginning5 min read . Updated: 29 Jul 2011, 03:03 PM IST
A new beginning
Just a few weeks before BaselWorld 2011, the luxury business was rocked by the news that French luxury behemoth LVMH was going to acquire storied jewellers and watch makers Bulgari for around £4 billion. The deal wound entail several significant moves: the Bulgari family would become the second largest shareholders in LVMH, and current Bulgari CEO Francesco Trapani was to take over as head of LVMH’s expanded watches and jewellery business.
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