British paper reports Rapha in takeover discussions with Louis Vuitton
LONDON (BRAIN) — The Mail on Sunday is reporting that the British cyclewear brand Rapha is in discussions about a possible purchase by the luxury goods company LVMH, the owner of Louis Vuitton and other brands. LVMH also has been in discussions with the Italian bike brand Pinarello. Pinarello and Rapha are each sponsors of Team Sky.
The paper attributes the news to a source it does not name. Records show Rapha had sales of £48.8 million last year ($53 million at the January, 2016 exchange rate), with profits of £1.1 million.
In 2013, LVMH took a 40 percent stake in the Australian brand 2XU for AU$80 million. 2XU specializes in compression wear, including a few items of cycling clothing.
via bicycle retailer