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LVMH expands portfolio with acquisition of Rimowa

London - Luxury conglomerate LVMH has acquired an 80 per cent stake in German premium luggage manufacturer Rimowa for 640 million euros (716 million dollars), as the French company continues to diversify its portfolio. The agreement sees Dieter Morszeck, grandson of the founder of Rimowa, sell a majority stake to LVMH Group, while retaining a...

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