LVMH Acquires Majority Stake in Bliss World.
PARIS--(BUSINESS WIRE)--March 18, 1999--LVMH Moet Hennessy Louis Vuitton The Louis Vuitton Company (more commonly known simply as Louis Vuitton) is a luxury French fashion and leather goods brand and company, headquartered in Paris, France. It is a division of the French holding company, LVMH Louis Vuitton Moët Hennessy S.A. (Nasdaq:LVMHY), the world's leading luxury products group, today announced the acquisition of a majority stake in Bliss World, an American start-up in the field of cosmetics and spas.
Based in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and founded by Marcia Kilgore, Bliss has developed successful lines of skin care and home spa products under the names Remede and Bliss, which are distributed in selected locations.
Bliss distributes a wide variety of selected beauty products through its Bliss Out catalog and its website blissworld.com.
In addition, Bliss operates the hottest spa in New York, located in Soho.
This fast-growing, innovative start-up and its young management team will become part of LVMH's Fragrance and Cosmetics Group and will benefit from LVMH's worldwide network to help in its growth and expansion into new markets.
Ms. Kilgore will continue to direct the management of the company, in particular regarding creative and aesthetic matters, and she also remains a significant shareholder.
"I am delighted with the partnership. I have great respect for the way that LVMH LVMH Moët Hennessy-Louis Vuitton (upscale retailer) assists its family of brands in their development without compromising on quality or their individual positioning and independent management. As the leading luxury group in the world, LVMH can bring significant benefits to Bliss and I greatly look forward to working with the LVMH team," said Marcia Kilgore.
"We are very excited that this young innovative company is becoming part of the LVMH Group," said Bernard Arnault Bernard Arnault (born 5 March 1949) is a French businessman. He is the 7th richest person in the world and France's richest person with an estimated net worth of $26 billion US dollars, according to a Forbes report in March 2007. , President of LVMH. "We are particularly pleased that Marcia Kilgore is joining the LVMH team and that we have the opportunity to invest in this vibrant and rapidly growing company. It fits perfectly with our vision for the future of the global cosmetics market and will further expand our presence in the U.S."
LVMH Moet Hennessy Louis Vuitton is the world's leading luxury products group. Its prestige brands Prestige Brands, Inc. NYSE: PBH is a company that manufactures personal care and home cleaning products. It was formed by the merger of Medtech Products, Inc., Prestige Brands International, and The Spic and Span Company. The company is headquartered in Irvington, New York. include Dom Perignon Dom Perignon
renowned vintage French champagne. [Western Cult.: Misc.]
See : Luxury , Moet & Chandon, Veuve Clicquot, Krug and Pommery champagnes; Hennessy and Hine cognacs; Louis Vuitton, Loewe, and Celine luggage, leather goods and accessories; Christian Dior Noun 1. Christian Dior - French couturier whose first collection in 1947 created a style that became known as the New Look (1905-1957)
Dior , Givenchy, Kenzo, and Guerlain perfumes and cosmetics; Sephora, Marie-Jeanne Godard, and Le Bon Marche in selective retailing; Fred in jewelry; and Givenchy, Christian Lacroix, and Kenzo in couture and fashion. LVMH holds a 61.25% interest in DFS (Distributed File System) An enhancement to Windows NT/2000 and 95/98 that allows files scattered across multiple servers to be treated as a single group. With Dfs, a network administrator can build a hierarchical file system that spans the organization's LANs and , the world leader in luxury goods distribution.
LVMH Moet Hennessy Louis Vuitton ordinary shares, traded on the Paris Stock Exchange, may be accessed on the Reuter Equities 2000 Service under LVMH.PA, on Quotron under LVMHF.EU, and on Bloomberg under MC FP. Its ADRs, each equal to one-fifth of an ordinary share, trade on the Nasdaq National Market System in the US.
Additional information on LVMH can be accessed on the company's home page: http://www.lvmh.com.