LVMH and Prada acquire hospitality outlets
LVMH‘s private equity arm (L Capital) has recently confirmed the acquisition of nightclubKU DÉ TA on the rooftop of Singapore’s iconic waterfront landmark Marina Bay Sands. L Capital Asia’s managing partner Ravi Thakran told The Straits Times it is embarking on a major renovation of the Singapore club soon, even as it plans to take the Ku De Ta brand global.
Last week, LVMH’s rival, Prada acquired 80% of Angelo Marchesi Srl, owners of the historic Milanese pastry shop founded in 1824. The acquisition seeks to promote and assure the strategic strengthening of the brand within a series of future development projects, both within Milan – in the new Prada spaces in the Galleria Vittorio Emanuele II – and internationally.