Gucci Group N.V. today filed its defense to a series of actions brought by LVMH in the District Court of Amsterdam

Redazione Nove da Firenze
Redazione Nove da Firenze
11 ottobre 2000 23:28
Gucci Group N.V. today filed its defense to a series of actions brought by LVMH in the District Court of Amsterdam

Gucci Group N.V. (NYSE and Amsterdam: GUC) today filed its defense to a series of actions brought by LVMH in the District Court of Amsterdam. These actions attack Gucci's strategic alliance with Pinault Printemps Redoute ("PPR") and seek to thwart Gucci's multi-brand strategy.
LVMH is Gucci's direct competitor and a significant shareholder in the Company. LVMH is abusing its position as a shareholder in Gucci to exercise anti-competitive influence over Gucci's business. LVMH is stepping up its campaign to frustrate Gucci's acquisition strategy, restrict its use of funds, and disrupt Gucci's strategic partnership.

This conduct, by the largest supplier of luxury leather goods, violates European competition law and interferes with Gucci's efforts to maximize shareholder value.
Accordingly, as part of its defense in the District Court, Gucci filed a counterclaim asking the Court to require the orderly divestiture of LVMH's shareholding in the Company.
Gucci Group N.V. is one of the world's leading multi-brand luxury goods companies. Through the Gucci, Yves Saint Laurent, Sergio Rossi and Boucheron brands it designs, produces and distributes high-quality personal luxury goods, including ready to wear, handbags, luggage, small leather goods, shoes, timepieces, jewelry, ties and scarves, eyewear, perfume, cosmetics and skincare products.

The Group directly operates stores in major markets throughout the world and wholesales products through franchise stores, duty free boutiques and leading department and specialty stores. The shares of Gucci Group N.V. are listed on the New York Stock Exchange and on the Amsterdam Stock Exchange.

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