LVMH has issued a declaration to keep people from panicking in this time of great need: They are not, we repeat, not selling off the MH part of the company (MH being the boozy part). Last week, speculation ran rampant that the fashion megacompany would stand to earn 12 billion euros from the sale to drinks group Diageo. Imagine, if you will, what that would mean. Moët Hennessy accounts for Veuve Clicquot, Dom Pérignon, and, of course, Moët & Chandon. Champers, people. How the fashion world could go without bubbly is beyond us.
Thankfully, LVMH helped quell things by nipping rumors. Diageo, which already owns 43 percent of Moët Hennessy, is advising the company. An analyst's report surfaced saying the deal made no "strategic sense." Well, obviously. Think of all the Champers-free parties we'd be stuck with. And Fashion Week? Oh, the horror of a dry one. And the report pointed out that in order for LVMH to snap up some high-priced properties like, say, Bulgari or Tiffany, selling off wouldn't work. (Not to mention, now may not be the best time to buy high-end jewelry brands whose sales are down.) But, there was this tantalizing tidbit that came out of left field for us to ponder: What about buying Chanel? Oh, we didn't know Chanel was for sale. Hmmm. Someone do let us know when those rumors clear.
Most Viewed Stories
The Sheer Perfection of Donald Trump’s Golden Shower
What Romance Really Means After 10 Years of Marriage
Attention: Meghan Markle Has Now Met Kate Middleton and Princess Charlotte
15 Protest Sign Ideas for the Women’s March on Washington
These Photos of Malia and Sasha Obama’s First Visit to the White House Will Make You Really Nostalgic
I’m Anti-Trump, But I Refuse to March
Hillary Clinton–Spotting Is the Hottest New Hobby
Ivanka Trump Threw a Secret Dinner Party at Wendi Murdoch’s Apartment
In the Middle of the Night, the Senate Voted Against Keeping Health-Care Coverage for Contraceptives
Melania Trump Has Plans to Put a Glam Room in the White House
From Our Partners
powered by PubExchange
Latest News from The CutMadame Clairevoyant: Horoscopes for the Week of January 16
The sun moves into Aquarius.The Ultimate Guide to Preparing for the Women’s March
Experts share their best tips.Drake Gave Sasha Obama a Little Shout-out
Who’s a fan of whom here?Taylor Swift’s Home Might Become a Historic Landmark
She’s spent millions on restoring her Beverly Hills place to its 1934 glory.Lady Gaga, Danai Gurira, Charlize Theron, Natalie Portman Signed an Open Letter Supporting Girls’ Education
The open letter is from campaigning and advocacy organization ONE.The Divorced Mom Who Cries After Sex
This week’s sex diary.This Pioneering Fashion Photographer Captured Complicated Women
Deborah Turbeville transformed fashion photography in the 1970s.Connecticut Politician Arrested for Pinching Woman’s Genitals
“I love this new world, I no longer have to be politically correct.”Saturday Night Live Takes Aim at The Bachelor’s Nick Viall
You know you’ve made it when SNL makes a sketch about you.British Prime Minister Theresa May Lands Her First Vogue Cover
Annie Leibovitz took the photos.
“For 25 years, I’ve been the only woman on set.”Kim Kardashian’s Police Report From Her Paris Robbery Has Been Released
It was published in full in Le Journal du Dimanche.Attention: Meghan Markle Has Now Met Kate Middleton and Princess Charlotte
There aren’t many family members left for Markle to meet.Guess What Planned Parenthood President Cecile Richards Is Knitting?
We’ll give you one hint — it’s pink.Hillary Clinton–Spotting Is the Hottest New Hobby
She was spotted this afternoon at The Humans.Kate McKinnon’s Susan B. Anthony Is Really Annoying in This SNL Sketch
“Also, abortion is murder!”Tina Fey Honors Carrie Fisher With Saturday Night Live Cameo
She also got a dig in at Trump.Donald Trump Allegedly Propositioned the Former Miss Hungary
This was possibly during the same trip as the infamous golden-showers incident.Sofia Vergara Threw Joe Manganiello Quite the 40th Birthday Party
It was called, wait for it, “Joechella.”Chase McNary Was Also a Front-runner for The Bachelor, But He Lost to Nick Viall
He’d signed the contract and everything.