Watch brands Audemars Piguet and Richard Mille will withdraw from the Geneva watch fair from 2020 to focus on selling directly to consumers rather than via third-party retailers they would meet at the show.
LVMH is close to acquiring a new perfume brand, Jean Patou, for its portfolio and has done it very much on the quiet. The French conglomerate took management control last year without any fanfare from Designer Parfums.
Potential buyers had until July 9th to come forward and FashionNetwork.com has learned that three offers have been made, including one by Carven perfume licensee Bogart. The brand, however, is keeping its options open.
The partnership will see the prestige beauty business work together with Jennifer Lopez to develop a new strategy to boost her fragrance business globally. The actress' fragrance franchise was previously handled by Coty.