資源描述：
《Bulgari LVMH 并購案 解析》由會員上傳分享，免費在線閱讀，更多相關(guān)內(nèi)容在行業(yè)資料-天天文庫。
1、Bulgari/LVMHChiaraPalmieri(protocollon°XXX)Copyright?2012SDABocconi,MilanoSDABocconiSchoolofManagementBulgari/LVMHChiaraPalmieriBulgari/LVMHIntroduction“Youcannotsimplyliveonpastglories:that’sfoolish.Tobeasuccess,youhavetocombinetheworldsofthepast,presentandfuture.Thatisthechallengeandtherearemanyh
2、orizons.”(NicolaBulgari).OnMarch7th,2011BulgariannouncedamergerwithLVMH.Thecompany’swebsitedescribesthetransactionasfollows:“PaoloandNicolaBulgariandFrancescoTrapanihavecontributedandtransferredtoLVMHMo?tHennessyLouisVuittonS.A.thefamily’smajorityshareholdinginBulgariS.p.A.inordertoreinforcethelong
3、termdevelopmentoftheBulgariGroup.Asforthesharesheldbyminoritystockholders,incompliancewiththeItalianStockExchangeregulations,LVMHhassubmittedaPublicPurchaseOffer,aimingatdelistingBulgarithS.p.A”.OnSeptember29,2011Bulgarisharesweredelistedfollowingthesuccessofthetenderoffer.Thecompanybeforethetransa
4、ction:businessoverviewandkeyfinancialsBulgariSpaisanItaliancompanyengagedintheproductionandsaleofluxuryproducts.DescendingfromanancientfamilyofGreeksilversmiths,thecompany’sfounder,SotirioBulgari,movedtoItalyandin1884openedhisfirstshopinRome.In1905,withthehelpofhissonsCostantinoandGiorgio,heinaugur
5、atedtheshopinViaCondotti,whichtodayremainsBulgari’sflagshipstore.Bythe1950’s-60’s,theboldandinnovativestyleofBulgarijewelshadgainedsuccesswithinthejetsetandmovieworld.Withthegrowthofitsinternationalfame,Bulgaribeganitsfirstphaseofglobalexpansioninthe1970’s,openingstoresinNewYork,Geneva,MonteCarloan
6、dParis.In1984Giorgio’ssons,PaoloandNicolaBulgari,respectivelybecameChairmanandVice-ChairmanoftheCompany,whiletheirnephew,FrancescoTrapani,wasappointedChiefExecutiveOfficer.Followingaperiodofstronggrowthduringthe1980’s,Bulgaribegantodiversifyitsproductportfolio,addingtothefamousjewelcollectionsother
7、luxuryproductsincludingwatches,perfumes,fashionandleatheraccessoriesandeyewearcollections.In2000Bulgaribegantopursueamoreaggressivestrategyofverticalintegrationwiththeacquisitionofsomecompaniesbothinthewatc
