LVMH Makes a Statement about Les Echos
PARIS--LVMH Mot Hennessy Louis Vuitton has today announced that it has entered into an exclusive negotiation process with Pearson that may lead to the sale of Groupe Les Echos to LVMH. A meeting of the workers committee of La Tribune will be convened in order to analyze the consequences of this process.
Should the transaction proceed, LVMH intends to invest in Groupe Les Echos and grow its leading French business and financial titles.
LVMH has always considered editorial independence as being of the utmost importance as it contributes to the credibility, legitimacy and success of any newspaper.
If the sale of Les Echos takes place, LVMH would include specific provisions in the agreement to ensure this editorial independence.
Groupe Les Echos includes the newspaper Les Echos, Les Echos.fr, leading website of economic media, Enjeux and other specialist financial services.
In 2006 the Groupe Les Echos sales reached 126 million euros and contributed to the operating profit of Pearson at a level of 10 million euros.
LVMH
LVMH Mot Hennessy Louis Vuitton is the world's leading luxury goods group. The Group is represented in Wines and Spirits by a portfolio of brands that includes Mot & Chandon, Dom Prignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Chteau d'Yquem, Hennessy, Glenmorangie, Ardbeg, Belvedere Vodka, Chopin, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Green Point, Cape Mentelle, Newton.
Its Fashion and Leather Goods division includes Louis Vuitton, the world's leading luxury brand, as well as Celine, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs, Berluti, StefanoBi as well as eLUXURY, the authoritative online source for luxury goods on the Internet. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is also active in selective retailing through DFS, Sephora in Europe and the United States, Le Bon March and La Samaritaine. LVMH's Watches and Jewelry division comprises TAG Heuer, Chaumet, Christian Dior Watches, Zenith, Fred, the prestigious Italian writing instruments company of OMAS and De Beers Diamond Jewellers Limited, a joint venture created with the world's leading diamond group.
Contacts
Analysts and investors :
LVMH
Chris Hollis
+ 33 1 44 13 21 22
or
Media :
France :
DGM Conseil
Michel Calzaroni /Olivier Labesse / Sonia Fellmann
+ 33 1 40 70 11 89
or
UK :
M : Communications
Hugh Morrison
+ 44 207 153 15 34
or
Italy :
Financial and Corporate Press
Community Group
Auro Palomba / Roberto Patriarca
+39 02 89 40 42 31
or
US :
Kekst & Company
James Fingeroth / Victoria Weld / Molly Morse
+1 212 521 48 00
Should the transaction proceed, LVMH intends to invest in Groupe Les Echos and grow its leading French business and financial titles.
LVMH has always considered editorial independence as being of the utmost importance as it contributes to the credibility, legitimacy and success of any newspaper.
If the sale of Les Echos takes place, LVMH would include specific provisions in the agreement to ensure this editorial independence.
Groupe Les Echos includes the newspaper Les Echos, Les Echos.fr, leading website of economic media, Enjeux and other specialist financial services.
In 2006 the Groupe Les Echos sales reached 126 million euros and contributed to the operating profit of Pearson at a level of 10 million euros.
LVMH
LVMH Mot Hennessy Louis Vuitton is the world's leading luxury goods group. The Group is represented in Wines and Spirits by a portfolio of brands that includes Mot & Chandon, Dom Prignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Chteau d'Yquem, Hennessy, Glenmorangie, Ardbeg, Belvedere Vodka, Chopin, 10 Cane, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Green Point, Cape Mentelle, Newton.
Its Fashion and Leather Goods division includes Louis Vuitton, the world's leading luxury brand, as well as Celine, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Donna Karan, Marc Jacobs, Berluti, StefanoBi as well as eLUXURY, the authoritative online source for luxury goods on the Internet. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Parfums Kenzo, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh). LVMH is also active in selective retailing through DFS, Sephora in Europe and the United States, Le Bon March and La Samaritaine. LVMH's Watches and Jewelry division comprises TAG Heuer, Chaumet, Christian Dior Watches, Zenith, Fred, the prestigious Italian writing instruments company of OMAS and De Beers Diamond Jewellers Limited, a joint venture created with the world's leading diamond group.
Contacts
Analysts and investors :
LVMH
Chris Hollis
+ 33 1 44 13 21 22
or
Media :
France :
DGM Conseil
Michel Calzaroni /Olivier Labesse / Sonia Fellmann
+ 33 1 40 70 11 89
or
UK :
M : Communications
Hugh Morrison
+ 44 207 153 15 34
or
Italy :
Financial and Corporate Press
Community Group
Auro Palomba / Roberto Patriarca
+39 02 89 40 42 31
or
US :
Kekst & Company
James Fingeroth / Victoria Weld / Molly Morse
+1 212 521 48 00
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