Two of Italy's leading law firms are advising on the nearly $2.6 billion purchase of an 80 percent stake in Italian clothing and fabric company Loro Piana by LVMH Moët Hennessy Louis Vuitton, the world's largest luxury goods conglomerate.
The nearly 300-lawyer Bonelli Erede has handled other major deals for LVMH, owner of well-known brands in such categories as clothing (Donna Karan, Louis Vuitton, Marc Jacobs, Thomas Pink); perfume (Christian Dior, Givenchy); watches and other accessories (Bulgari, Fendi, TAG Heuer); and wine and spirits (Belvedere, Dom Pérignon, Hennessy, Moët & Chandon). LVMH also owns specialty retail chains like Sephora and Le Bon Marché.
which was created in 1999
when Genoa-based Bonelli merged with Milan-based Erede and Brussels-based Pappalardo, is advising LVMH on the Loro Piana acquisition with a team of lawyers led by M&A partner and international business head Umberto Nicodano, M&A partner Stefano Micheli, and senior corporate associate Nicola Marchioro.
is the longtime head of LVMH’s global in-house legal department, while
serves as the luxury goods giant’s U.S. senior vice president of legal affairs and general counsel.
, which advised Bulgari two years ago in connection with its acquisition by LVMH, is taking the lead representing Loro Piana on its proposed sale to the French fashion giant. (Separately,
Italian newspaper La Repubblica reports
that Chiomenti and Bonelli Erede are facing off amid an ownership dispute over famous Milan patisserie
serves as general counsel and corporate secretary for Loro Piana, which LVMH hopes to grow into a global brand.
Groupe Arnault, a holding company for French billionaire
and his family, owns nearly 50 percent of LVMH. Arnault serves as chairman and CEO of LVMH, which has
been active on the acquisition front in recent years
and has also made ill-fated takeover bids for luxury goods competitor Gucci and smaller French fashion rival Hermès.
The nascent rebound has given the sector a bit of a jolt on the M&A front.
The Am Law Daily reported
on the three Am Law 100 firms landing roles on the $1.1 billion sale of fashion retailer Rue21 to private equity firm Apax Partners. (Apax is a part owner of ALM Media, parent company and publisher of
The Am Law Daily