The two-part transaction will see LVMH, who already owned shares in Dior, buy the rest of it, as well as the high-end fashion line for £5.5bn.
This will basically mean that LVMH will own the Dior brand, adding Couture to the perfume and beauty side of the business it already owned.
Mr Arnault, who owns the company, said: ‘The corresponding transactions will allow the simplification of the structures, long requested by the market, and the strengthening of LVMH’s Fashion and Leather Goods division thanks to the acquisition of Christian Dior Couture, one of the most iconic brands worldwide.’
LVMH already runs Louis Vuitton, Bulgari, Tag Heuer and Moet champagne amongst others, so this’ll only serve to consolidate its luxury status even further.
And it’s working already, with shares of Dior jumping up by 11% overnight. Well played.