Bernard Arnault Says He Owns Small Stake in Richemont
Provided by
Dow Jones
By Adria Calatayud
French billionaire Bernard Arnault, chairman and chief executive of LVMH Moet Hennessy Louis Vuitton, bought a minor personal stake in Cartier owner Richemont, he told CNBC in an interview aired Friday.
Arnault said he would never do anything against Richemont's chairman, Johann Rupert. "He wants to stay independent. And I agree completely on that," Arnault said.
LVMH would consider buying Richemont as well as other luxury brands if they were up for sale, Bloomberg reported last month, citing unnamed sources.
Richemont didn't immediately respond to a request for comment.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
July 26, 2024 11:18 ET (15:18 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
United States