According to Italian media, French conglomerate LVMH (Louis Vuitton Moët Hennessy) with a few dosens luxury brands in its portfolio, has shown interest in acquiring Italian Riva brand
At present Riva is part of Italian Ferretti Group, whose portfolio unites such brands as Custom Line, Ferretti Yachts, Itama, Pershing, CRN and Wally. But if the head of LVMH, Bernard Arnaud, is persistent enough and offers a good price, Carlo Riva’s legacy and one of the symbols of Italian dolce vita is very likely to pass into his hands.
It’s not the first time LVMH has got involved in yachting industry. In 2008 the conglomerate acquired Royal Van Lent yard, and later British Princess Yachts. In 2023 the latter was sold to an American investment company and, based on the news in the media, is going through rather a bad stretch at present.
Ferretti Group, on the contrary, has been reporting steadily on its stable financial position and launching new models recently. But yachting industry is currently going through rather hard times, so it might be quite wise of them to think of a good margin of safety and sell the Riva brand, which has not been most successful recently.
Anyway, there is no smoke without fire, so the rumours in the Italian media do have some basis. We will probably find out whether the parties have reached an agreement and whether Riva will join LVMH or remain part of Ferretti Group in the nearest future.
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