Golf has two components: the long game and the short game. In the former, power and distance are required so the player can approach the putting green in as few strokes as possible; the post pandemic luxury digital frontier is about to be shaped for LVMH thanks to an interesting new development in wearable tech eco-system
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Frederic Arnault, Chief Strategy & Digital Officer TAG Heuer speaks onstage during The Launch of The New Connected Watch by TAG Heuer at The Caldwell Factory on March 12, 2020 in New York City. (Photo by Brian Ach/Getty Images for TAG Heuer )
In 1999, LVMH offered to buy TAG Heuer for 1.2 billion Swiss francs ($778.8 million then or $1.2 billion adjusted for inflation), reflecting an acquisition trend in the luxury-goods sector, where small but notable brands are acquired and then greatly expanded into new categories with the brand influence of a globally recognised name. It?s hard to imagine that a deal of this magnitude was eclipsed by another dramatic development in the luxury industry. The one where LVMH almost became the majority owner of Gucci. Bernard Arnault had been steadily increasing his stake in Gucci but in March 1999, Francois Pinault?s PPR made a big to acquire 44% of the Italian brand, effectively diluting LVMH?s Gucci stake from 34% to 20% and since then France?s two most recognisable billionaires have been taking their compet...