Agenda-setting intelligence, analysis and advice for the global fashion community.
TREVISO, Italy — Pinarello, an Italian maker of high-end sports bicycles, said it's considering options to strengthen its brand but not planning to exit the business, following a newspaper report that luxury-goods maker LVMH approached the company.
The Pinarello family has been studying options to reinforce the business with a “strong industrial base” for several years, the company said in a statement Tuesday. The family will “continue to follow the company in its future growth, as it has always done and with the same passion.”
Fausto Pinarello, president of the company, has been leading preliminary talks with LVMH, which may offer the buy the bike brand or a controlling stake, La Tribuna di Treviso said Saturday, without citing anyone. Pinarello was founded in the early 1950s.
LVMH has been on the acquisition hunt lately, and agreed earlier this month to take over German suitcase maker Rimowa for €640 million ($704 million).
By Thomas Mulier; editor: Matthew Boyle.
