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The Bulgari Family, majority shareholder of the Italian House established in 1884 by Sotirio Bulgari, has decided to join forces with the LVMH Group in order to reinforce the long term development of the Bulgari Group.

The agreement was concluded during the weekend of 5 and 6 March and was approved unanimously by the LVMH Board of Directors. The Board of Directors of Bulgari SpA has also unanimously approved the project of contributing to LVMH the Family’s majority shareholding in Bulgari SpA. Upon completion of the share transfer process, LVMH will issue 16.5 million shares in exchange for the 152.5 million Bulgari shares currently held by the Bulgari Family, who will thus become the second largest family shareholder of the LVMH Group.