PARIS — Qatar Holding LLC — the owner of Harrods in London — holds a 1.03 percent stake in French luxury giant LVMH Moët Hennessy Louis Vuitton.
The investment is revealed in 2011 financial documents filed Thursday with the AMF, France’s market authority.
Investors are obliged to inform LVMH once they cross the 1 percent shareholding threshold. Others to have done so last year include Paolo Bulgari and Nicola Bulgari, as well as the companies Amundi, MFS Investment Management, BNP Paribas SA and BNP Paribas Asset Management, the 268-page document details. It notes that Qatar holds less than 1 percent of voting rights.
The stake held by the Bulgari brothers relates to LVMH’s acquisition last March of 50.4 percent of Bulgari from the company’s largest shareholder, the Bulgari family, in a cash-and-share swap valued at more than $6 billion in March. That deal made the Bulgaris the second-largest family shareholder in the French firm behind LVMH chairman and chief executive officer Bernard Arnault.
As of Dec. 31, Arnault and his family hold 46.5 percent of the share capital and 62.4 percent of voting rights at the world’s largest luxury goods firm, according to the financial document.
In 2011, revenues at LVMH advanced 16 percent to 23.66 billion euros, or $32.94 billion, as reported.
Qatar Holding, established in 2006, invests on behalf of the State of Qatar and is linked to the royal family of the Gulf nation.
Last year, Qatar became the largest shareholder in French media group Lagardère, with a 10.07 percent stake. Last month, the investment house said it acquired the London headquarters of Credit Suisse at One Cabot Square in Canary Wharf.
Qatar Holding has investments in a range of companies including Barclays, London Stock Exchange, Volkswagen, Porsche and J Sainsbury plc, according to its Web site.
Credit Suisse recently reinstated coverage of LVMH, assigning it an “outperform” rating and characterizing it as a “high-quality, core holding offering the most balanced and diversified portfolio in the sector thanks to several leading brands with global scalability into emerging markets and attractive margins.”
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews
@prada is introducing a new project at its men’s fall 2018 show this Sunday: “Prada Invites.” The fashion house invited four celebrated creative minds – @ronanaerwanbouroullec, Konstantin Grcic, @herzogdemeuron and @rem.koolhaas – to each create a unique item with its iconic nylon material. The designs will be unveiled on the runway show, which will take place at the company’s warehouse in Viale Ortles 25. #wwdfashion #mfwm (📷: @martinocarrera)
@kering_official is spinning off its stake in puma in an effort to focus on its luxury brands, the brand operator announced yesterday. “We are proud to have supported the turnaround of Puma, which now has unrivaled capabilities to take full advantage of the specific dynamics of its global markets and is poised to achieve substantial growth,” said François-Henri Pinault, Kering’s chief executive officer and chairman. Artémis will become a “long-term strategic shareholder” of Puma with a 29 percent stake. #wwdnews #wwdfashion (📷: @jilliansollazzo)
The fashion world mourns for celebrated street style photographer, Nabile Quenum, who died at age 32 in Paris.
Quenum, creator of the fashion blog “J’ai Perdu Ma Veste,” was a fashion week fixture, and regularly shot for New York magazine’s The Cut, among other outlets, and brands such as Louis Vuitton, Moncler and Adidas. He was also actively involved in the #NoFreePhotos initiative, which kicked off in the fall. Read more about Quenum in @kbsmoke's story on WWD.com. #wwdnews
@verwanggang and @maisonladuree have teamed up on a dessert collab called Vera Wang Pour Ladurée. The collection, which launched this week, features a specialty macaroon, as well as a wedding cake inspired by one of the designer’s gowns. “I could not imagine a more delicate or sophisticated creation to grace any couple’s celebration,” said Wang. #wwdfashion