LVMH mulls bid for Goldsmiths owner Aurum
Luxury goods group LVMH’s private equity firm is mulling a bid for jewellery group Aurum, which operates Goldsmiths, Mappin & Webb and Watches of Switzerland.
Aurum has put up for sale last year by the resolution committee of collapsed Icelandic bank Landsbanki. The jewellery group is 67% owned by Landsbanki and carries a £200m price tag.
The private equity arm, L Capital, which was set up to buy luxury and premium high street brands, is eyeing the 165 store business, according to the Sunday Times.
LVMH owns brands including Louis Vuitton, Donna Karan and Marc Jacobs.
Last year, Aurum posted £16.1m EBITDA for the year ending January 30 on the back of 16.6% like-for-like growth.