LVMH Moet Hennessy Louis Vuitton (GB:0HAU) (LVMUY) has entered into a deal to acquire Los Angeles-based famous eyewear maker Barton Perreira, The Wall Street Journal reported. This strategic move is aimed at bolstering LVMH’s luxury eyewear division, which is experiencing increasing demand. The deal is reportedly valued at $80 million.
Headquartered in Paris, LMVH is a conglomerate specializing in luxury goods. The company is well-known for owning around 75 luxury brands, including Dior, Louis Vuitton, Sephora, Bulgari, and others.
It is worth mentioning that Barton Perreira has gained popularity among various Hollywood celebrities. Some of the well-known personalities, like Sandra Bullock and Demi Lovato, have been spotted wearing the company’s eyeglasses.
After the completion of the deal, LVMH plans to introduce Barton Perreira’s eyewear in high-end stores throughout Europe and Asia. Currently, Barton has a presence only in the United States. Going forward, LMVH aims to open some standalone Barton Perreira outlets across Europe as well.
What is the Future Price of LVMH Stock?
LVMH is expected to benefit from the recovery in Asia, particularly in China, as well as the continued strong performance in the U.S., Europe, and Japan. Further, price increases, ongoing expansion, and a loyal customer base are favorable factors contributing to its financial performance.
Analysts are bullish about the stock. LVMH has a Strong Buy consensus rating on TipRanks based on 13 Buy and three Hold recommendations. These analysts’ average price target of €864.53 implies 22.6% upside potential.
