Folks at Burberry Dismiss Rumours of Takeover

Usually takeovers come into picture when the target company isn’t doing very well but the prospective acquiring company does light at the end of the tunnel and wants to capitalize on it.  Rumors of Burberry being taken over surfaced but its staggering profit figures spoke otherwise. The fashion mills posted a 21.6 percent rise in first-half revenues to $974.3 million, from $801 million in the parallel period last year.

There have been rumors circling in the industry that Burberry looks like a golden-egg-bearing chicken for any big luxury group like PPR or Louis Vuitton Group or even a private equity fund. The CFO of Burberry refused to add any fuel to the fire by declining to comment. He further added that their business is doing really well and they are going to be committed to their business perpetually.

Citigroup also researched into this and said that potential scope exists for some private equity money to be pumped into Burberry but they are yet figuring out why LVMH and PPR would consider adding a ‘soft’ band like Burberry to their portfolio.

Via: Fashionlogie

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