LUXURY LOWDOWN: The rumor mill, calm throughout the European collections, perked up at the tail end of Paris Fashion Week on Wednesday with speculation about two potential takeover bids. Rumors about the future of Pomellato surfaced again as Pambianconews, an online newsletter by Carlo Pambianco’s Milan-based consultancy, claimed on Wednesday that French conglomerate PPR is “finalizing” the acquisition of the Italian jeweler. PPR had no comment, while a spokeswoman for Pomellato reiterated that the firm is “evaluating different strategic options for the future.” Meanwhile, a report in the Daily Mail said that rumors in the City of London were rife that Hermès is ready to launch a 1.5 billion pounds, or $2.27 billion, “knockout” cash bid for Mulberry. Hermès denied the rumor.
March 6, 2013