Will Burberry be acquired by LVMH in 2014?
UBS investment bank list fuels rumours of a takeover
Will the British mega brand become part of the LVMH clan? After Angela Ahrendts left Burberry back in October last year to pursue a career at Apple, Christopher Bailey assumed her position as the brand's chief executive officer, as well as retaining his role as chief creative officer.
"I am profoundly moved and humbled to be asked to take on the CEO role at this company that means so much to me," Bailey said in a statement released after the announcement. "I also feel privileged to be keeping my role as chief creative officer, as I believe that creativity and innovation have been at the heart of our success in the last 10 years and will be even more so in the decade ahead. It has been my privilege to work with people right across the company over the last 10 years, and whilst I am sad no longer to have the inspirational leadership of Angela, who has been an absolute joy to work with, I feel more than confident that part of her legacy is an enormously strong team in all of our areas."
Since this time there has been speculation that the brand will undergo a takeover. As one of the 13 British companies listed on the UBS investment bank annual merger and acquisition target list, Burberry is now rumoured to be possibly joining the impressive portfolio of French LVMH conglomerate of luxury goods as reported by The Telegraph and the industry title Drapers. Whether the rumours will turn into fact only time will tell...