LVMH Louis Vuitton - Moët Hennessy SA, the world’s largest luxury conglomerate has now added another acquisition to its range of business with the latest purchase of Hotel Saint-Barth Isle de France from majority owner Adventurous Journeys Capital Partners for an amount that has not been disclosed.
LVMH derives 35 per cent of its revenue which accounts for €28.1 billion (approximately $37 billion USD) out of the fashion and leather goods division of the company. However, of late, LVMH has increased its expansions into various arenas and the most recent transactions, apart from the Hotel Isle de France, is the purchase of Loro Piana, the fine wool retailer, for which the company paid $2.66 billion as well as the acquisition of Pasticceria Confetteria Cova Srl, the high-end pastry maker that was purchased for an undisclosed sum.
As per the hotel’s website, the tariff for a one night stay at the hotel could cost a few thousand Euros per night! Given the luxurious offerings of the hotel, it is poised to be a major tourist destination for the wealthy few!