The world’s famous luxury fashion brand Louis Vuitton has become the new owner of the prestigious Aston Martin cars.
How come? Well, in light of mounting financial pressure, and after internal review of costs and value, Ford – one of the biggest car manufacturers in the world - decided to look at selling parts of its Premium Automotive Group. After suggestions of selling Jaguar Cars, Land Rover or Volvo Cars, Ford appointed UBS AG (financial services) to sell Aston Martin by auction.
This is where Louis Vuitton comes in. Apparently, two of the biggest luxury goods firms were locked in a battle to buy Aston Martin from cash-starved Ford. Swiss-based Richemont and French holding company Louis Vuitton Moët Hennessy.
In the end, Louis Vuitton won the winning bid and despite having no previous experience in the car industry, the French luxury goods consortium will incorporate the sophisticated style of its upper-crust products into Aston Martin’s beautiful cars.
I wonder if the next James Bond movie will feature product placements of Louis Vuitton?
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Yink says:
Ah this is funky. LV is deffo a kewl brand but its a bit funky them going into the automobile business. From what little i know when a company who doesn’t know the business comes into a market which isn’t its own they don’t tend to do very well.
Feb 02, 2007, 7:05 pmwalking leaf says:
It seems that the rumours on Louis Vuitton buying Aston Martin are “pure rubbish”. It was reported that the French luxury goods company brought the famous car maker for around $14 billion, but Louis Vuitton claims that the figure is too high…
More can be read here: http://www.autocar.co.uk/News/NewsArticle/AllCars/224072/
Feb 02, 2007, 9:27 amYink says:
LV “We didn’t even get to first base,”
lmao.
Feb 02, 2007, 3:16 pm