French luxury brand Louis Vuitton has bought an 80 per cent stake in high-tech luggage maker Rimowa. This deal between Rimowa luggage business and French luxury group – LVMH, owner of Louis Vuitton, closed at 640 million euros (716millions). This is French brand’s first acquisition in Germany.
Founded a century ago, luggage and leather goods maker Rimowa has established itself as a durable and reliable brand, renowned for innovative and quality luggage. The brand revolutionised the luggage industry and is today a name to reckon with in the luggage industry. Rimowa is renowned for their unique performance, quality and design.
Rimowa’s aluminum suitcases are popular in Asian countries and it has a huge consumer base especially in China. Most of the Chinese buyers use these durable suitcases to transport luxury goods when traveling abroad. These suitcases are charged between 300 and 600 euros.
Rimowa believes that the brand has inspired the founder’s family and the company’s employees for over a century and this partnership with LVMH Group will preserve the spirit of excellence and the long-term vision.