Luxury Shopping | Morningstar
Special weeks Luxury Shopping LVMH has the reputation canadian tire beauport of a great hunter, but the market speculates on other mergers and acquisitions in the sector. What could be the next prey and predators.
The luxury becomes speculative opportunity. Especially for those who believe in the possibility of mergers and acquisitions canadian tire beauport in the sector. The signals canadian tire beauport in this sense are not lacking. Analysts at Mediobanca have recently published a note explaining that the return of the rumors on the interest of Permira for the fashion house Roberto Cavalli canadian tire beauport has rekindled the spotlight on the sector with a view to mergers and acquisitions. "As we commented at the time of integration between LVMH and Loro Piana, we see value in mergers and acquisitions canadian tire beauport in some Italian brands canadian tire beauport like Ferragamo, Yoox and Cucinelli, based on both the market positioning of the brand appealing (Brunello canadian tire beauport Cucinelli), both of the structure fragmented ownership (Ferragamo and Yoox) ", say experts of Piazzetta Cuccia, canadian tire beauport recalling that the acquisition of 20% of Versace by the fund Blackstone took place at a multiple of 2.2 times sales and 15.2 the relationship enterprise value / EBITDA. The sale of 60-80% of Horses Permira could assess the company 450 million, EBITDA of 25 million in 2013 and 201 million in revenues (margin of 12.4%), which means a multiple of 18 times the 'ebitda 2013. A value "aligned to the average quoted Italian Brunello Cucinelli, Ferragamo, Tod's and Prada, including in a fork between 14.5 and 23.3." According to the numbers, the sector is 15.1 times the ev / ebitda 2014 and 29.5 the Pe (price earning) 2014.
LVMH takes still aims to identify potential prey, analysts say, you have to follow the moves of the usual LVMH. For 25 years (since when is led by Bernard Arnault), the luxury giant has earned a reputation for great hunter of occasions. Over the past 10 years he has spent more than $ 11.6 billion in acquisitions. And, according to a study of Sanford C. Bernstein, today would have 10 billion euro to spend to carry on such operations. This firepower convinced the owners of Hermès to block their shares in a holding company to protect them from a takeover. One possibility anything but remote, after Arnault began to accumulate shares of the historic French company without that property knowing.
According to Exane BNP Paribas, the next target of LVMH may be Ferragamo, which would be away for a little more than 3.8 billion euro. A figure much lower than that which should shell out for other possible targets as Burberry (8.5 billion) or Tiffany (10 billion)
Frau is not in an armchair The group announced that in the coming canadian tire beauport years will continue to evaluate new combinations, together with the parent Haworth, although it must first digest the transition of control from Charming to US company. "After the acquisition of Simon that we did last year, we are now, with Haworth, managing an acquisition - that of our group - which is very big," said the CEO, Dario Rinero. "We will be ready, maybe in the future, canadian tire beauport to look to other opportunities. I think the most important thing I can say is that this group was put together as a catalyst aggregation ". Also because, canadian tire beauport he explained, there are still skills and opportunities. "In the coming years I think Haworth, together with us, will look at the possibility of continuing to aggregate excellent brands and quality products with great opportunities in international markets, preferably Made in Italy".
Even companies that work with social canadian tire beauport responsibility, explain analysts Morningstar, s ... Strategies Portfolio for 2015
Help Glossary Data Licensing Opportunities Opportunities Careers Contact Advertise Site Map International Sites Australia Austria Belgium Canada China Czech Republic Denmark Estonia Finland France Germany Hong Kong Hungary Iceland India Ireland Italy Japan Korea Latvia Lithuania Malaysia Netherlands New Zealand Norway Poland Portugal Singapore South Africa Spain Sweden Switzerland Taiwan Thailand United Kingdom United States
Special weeks Luxury Shopping LVMH has the reputation canadian tire beauport of a great hunter, but the market speculates on other mergers and acquisitions in the sector. What could be the next prey and predators.
The luxury becomes speculative opportunity. Especially for those who believe in the possibility of mergers and acquisitions canadian tire beauport in the sector. The signals canadian tire beauport in this sense are not lacking. Analysts at Mediobanca have recently published a note explaining that the return of the rumors on the interest of Permira for the fashion house Roberto Cavalli canadian tire beauport has rekindled the spotlight on the sector with a view to mergers and acquisitions. "As we commented at the time of integration between LVMH and Loro Piana, we see value in mergers and acquisitions canadian tire beauport in some Italian brands canadian tire beauport like Ferragamo, Yoox and Cucinelli, based on both the market positioning of the brand appealing (Brunello canadian tire beauport Cucinelli), both of the structure fragmented ownership (Ferragamo and Yoox) ", say experts of Piazzetta Cuccia, canadian tire beauport recalling that the acquisition of 20% of Versace by the fund Blackstone took place at a multiple of 2.2 times sales and 15.2 the relationship enterprise value / EBITDA. The sale of 60-80% of Horses Permira could assess the company 450 million, EBITDA of 25 million in 2013 and 201 million in revenues (margin of 12.4%), which means a multiple of 18 times the 'ebitda 2013. A value "aligned to the average quoted Italian Brunello Cucinelli, Ferragamo, Tod's and Prada, including in a fork between 14.5 and 23.3." According to the numbers, the sector is 15.1 times the ev / ebitda 2014 and 29.5 the Pe (price earning) 2014.
LVMH takes still aims to identify potential prey, analysts say, you have to follow the moves of the usual LVMH. For 25 years (since when is led by Bernard Arnault), the luxury giant has earned a reputation for great hunter of occasions. Over the past 10 years he has spent more than $ 11.6 billion in acquisitions. And, according to a study of Sanford C. Bernstein, today would have 10 billion euro to spend to carry on such operations. This firepower convinced the owners of Hermès to block their shares in a holding company to protect them from a takeover. One possibility anything but remote, after Arnault began to accumulate shares of the historic French company without that property knowing.
According to Exane BNP Paribas, the next target of LVMH may be Ferragamo, which would be away for a little more than 3.8 billion euro. A figure much lower than that which should shell out for other possible targets as Burberry (8.5 billion) or Tiffany (10 billion)
Frau is not in an armchair The group announced that in the coming canadian tire beauport years will continue to evaluate new combinations, together with the parent Haworth, although it must first digest the transition of control from Charming to US company. "After the acquisition of Simon that we did last year, we are now, with Haworth, managing an acquisition - that of our group - which is very big," said the CEO, Dario Rinero. "We will be ready, maybe in the future, canadian tire beauport to look to other opportunities. I think the most important thing I can say is that this group was put together as a catalyst aggregation ". Also because, canadian tire beauport he explained, there are still skills and opportunities. "In the coming years I think Haworth, together with us, will look at the possibility of continuing to aggregate excellent brands and quality products with great opportunities in international markets, preferably Made in Italy".
Even companies that work with social canadian tire beauport responsibility, explain analysts Morningstar, s ... Strategies Portfolio for 2015
Help Glossary Data Licensing Opportunities Opportunities Careers Contact Advertise Site Map International Sites Australia Austria Belgium Canada China Czech Republic Denmark Estonia Finland France Germany Hong Kong Hungary Iceland India Ireland Italy Japan Korea Latvia Lithuania Malaysia Netherlands New Zealand Norway Poland Portugal Singapore South Africa Spain Sweden Switzerland Taiwan Thailand United Kingdom United States
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