Bernard Arnault, LVMH Chairman will buy a stake in Lagardere Capital & Management (LCM), which is a Publishing and Media Group Lagardere Capital & Management (LCM) owned by Arnaud Lagardere.
Lagardere’s portfolio includes numerous global travel retail stores, many of which are in Asia. In Hong Kong it is in a joint venture with China Duty Free running key airport concessions for liquor & tobacco and it has a licence to roll out the Thai-based Dean & Deluca cafes in airports in Europe and Asia.
According to a statement released by both Lagardere & LVMH, the move is expected to ‘strengthen the corporate structure and financial capacities of LCM’.
