The case of LVMH and BVLGARI : mergers & acquisitions
Autor(a) principal: | |
---|---|
Data de Publicação: | 2012 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.14/15608 |
Resumo: | LVMH Moët Hennessy - Louis Vuitton, the biggest player on the luxury industry, has announced on March 2011 a further step on its consolidation strategy. LVMH announced the acquisition of Bulgari, a company owned majorly by the Bulgari family. This thesis aims to analyse the value creation potential of this acquisition. The data of the valuation exercise is prior to the acquisition, aiming to understand the deal from an ex-ante point of view. The valuation exercise is based on the valuation literature and on the analysis of the luxury industry players, structure, profitability and expected growth. Bulgari, pre-deal, is considered to be overvalued. The company is failing to keep up with the high growth rate of the luxury industry. The synergies are estimated at 96% of the company’s pre-deal estimated price and around 60% of its market capitalization. |
id |
RCAP_be6aa83b368fcdc25dde05bf797b75d1 |
---|---|
oai_identifier_str |
oai:repositorio.ucp.pt:10400.14/15608 |
network_acronym_str |
RCAP |
network_name_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository_id_str |
7160 |
spelling |
The case of LVMH and BVLGARI : mergers & acquisitionsDomínio/Área Científica::Ciências Sociais::Economia e GestãoLVMH Moët Hennessy - Louis Vuitton, the biggest player on the luxury industry, has announced on March 2011 a further step on its consolidation strategy. LVMH announced the acquisition of Bulgari, a company owned majorly by the Bulgari family. This thesis aims to analyse the value creation potential of this acquisition. The data of the valuation exercise is prior to the acquisition, aiming to understand the deal from an ex-ante point of view. The valuation exercise is based on the valuation literature and on the analysis of the luxury industry players, structure, profitability and expected growth. Bulgari, pre-deal, is considered to be overvalued. The company is failing to keep up with the high growth rate of the luxury industry. The synergies are estimated at 96% of the company’s pre-deal estimated price and around 60% of its market capitalization.Tsvetkov, PeterVeritati - Repositório Institucional da Universidade Católica PortuguesaFarinha, Tânia Rafaela da Silva2014-11-12T14:14:18Z2012-11-0920122012-11-09T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.14/15608enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-09-19T01:39:38Zoai:repositorio.ucp.pt:10400.14/15608Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T18:12:59.530560Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The case of LVMH and BVLGARI : mergers & acquisitions |
title |
The case of LVMH and BVLGARI : mergers & acquisitions |
spellingShingle |
The case of LVMH and BVLGARI : mergers & acquisitions Farinha, Tânia Rafaela da Silva Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
The case of LVMH and BVLGARI : mergers & acquisitions |
title_full |
The case of LVMH and BVLGARI : mergers & acquisitions |
title_fullStr |
The case of LVMH and BVLGARI : mergers & acquisitions |
title_full_unstemmed |
The case of LVMH and BVLGARI : mergers & acquisitions |
title_sort |
The case of LVMH and BVLGARI : mergers & acquisitions |
author |
Farinha, Tânia Rafaela da Silva |
author_facet |
Farinha, Tânia Rafaela da Silva |
author_role |
author |
dc.contributor.none.fl_str_mv |
Tsvetkov, Peter Veritati - Repositório Institucional da Universidade Católica Portuguesa |
dc.contributor.author.fl_str_mv |
Farinha, Tânia Rafaela da Silva |
dc.subject.por.fl_str_mv |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
LVMH Moët Hennessy - Louis Vuitton, the biggest player on the luxury industry, has announced on March 2011 a further step on its consolidation strategy. LVMH announced the acquisition of Bulgari, a company owned majorly by the Bulgari family. This thesis aims to analyse the value creation potential of this acquisition. The data of the valuation exercise is prior to the acquisition, aiming to understand the deal from an ex-ante point of view. The valuation exercise is based on the valuation literature and on the analysis of the luxury industry players, structure, profitability and expected growth. Bulgari, pre-deal, is considered to be overvalued. The company is failing to keep up with the high growth rate of the luxury industry. The synergies are estimated at 96% of the company’s pre-deal estimated price and around 60% of its market capitalization. |
publishDate |
2012 |
dc.date.none.fl_str_mv |
2012-11-09 2012 2012-11-09T00:00:00Z 2014-11-12T14:14:18Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.14/15608 |
url |
http://hdl.handle.net/10400.14/15608 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
|
_version_ |
1799131807015239680 |