PARIS — Luxury kingpin Bernard Arnault is still in a mood to spend — but not for fashion.The business titan on Tuesday reached into more surprising territories by announcing investments in England's Princess Yachts International plc and Groupe Paprec, France's leading recycler of plastics and office paper.The acquisitions were made through separate investment vehicles and signal that Arnault, chairman and chief executive officer of LVMH Moët Hennessy Louis Vuitton, is on the prowl in different industries.L Capital 2 FCPR, an investment group sponsored by LVMH and Groupe Arnault, acquired more than 70 percent of Princess Yachts from South African entrepreneur Graham Beck. Financial terms were not disclosed, but the purchase price is estimated at 200 million British pounds, or about $394 million at current exchange.The deal is subject to antitrust approvals and co-investors include the Belgian investment group Cobepa.Philippe Franchet, a founder of L Capital 2, told WWD Arnault was attracted to Princess' reputation for modern, sophisticated leisure vessels. "It's a company that has been growing steady at a double-digit rate," he said. "And it operates in one of the most dynamic segments of the market."Princess, founded in 1965, produces 350 to 400 hand-built motor yachts a year, from 42 to 95 feet in length. Prices range from about 250,000 pounds to 6 million pounds, or $492,000 to $11.8 million, Franchet said.Princess revenues are estimated at 195 million pounds, or $390.4 million.The acquisition represents L Capital 2's first venture into luxury boats, Franchet said. Its other investments range from food to garden furniture.Separately on Tuesday, Financière Agache Private Equity, part of Groupe Arnault, said it would invest 100 million euros, or $155.4 million at current exchange, in Groupe Paprec, giving Arnault a 37 percent stake.
“I like everything she does,” said @lilkimthequeenbee about @parishilton at Hilton’s launch party for her collab with @boohoo. “She understands women and the certain body types. I think her clothes are so cute. It’s hot. She’s funny, but sexy at the same time, just like me.” #wwdeye (📸 @chelsealaurenla ) #parishilton #boohoo #lilkim
“It has to be authentic and real to me,” @charlotteslawrence tells WWD’s @leighen about writing her own music. “No matter what I’m singing, I have to still be able to feel it in that moment or in five years from now — I have to be able to connect to that moment: this is my story, this is a little piece of me.” Read more on wwd.com (📸: @jgreenery ) #wwdeye #charlottelawrence
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty