Tuesday, October 4, 2016

LVMH buys majority stake in Rimowa A suitcase manufacturer rolls out to France – Handelsblatt


The French luxury group LVMH is buying a majority stake in the Cologne-based family company.

(photo: Oliver Prime)

Paris/KölnThe French luxury group LVMH, Bernard Arnault buys for the first Time in Germany. You will be responsible for 640 million euros, 80 percent of the suitcase manufacturer Rimowa. Completed the business is expected to be in January 2017 – if the competition authorities agree.

The Cologne-based family company is known for its high-priced rolling suitcase is made of aluminum and is managed by the third Generation of the family, Dieter Morszeck. The container according to LVMH 20 percent of the shares, and remains Co-Director. Next to him Arnaults 23-year-old son Alexandre occurs in the management of the company. For him, fresh out of the elite University of Polytechnique, it is the first responsibility in a company.

the first acquisition in Germany of all places, a company, the exclusive travel needs making, is perhaps the Tradition of the French luxury manufacturer: Finally, a suitcase and leather manufacturer Louis Vuitton were his best known and most valuable brand. Such as Rimowa Louis Vuitton as a saddlery came to be. The Northern French-born Arnault has built up by Collecting valuable brands such as Louis Vuitton, Moët&Chandon and Hennessy Empire in the luxury.

business discussion Rimowa: Glamour case from Cologne, Germany

He is the piece of Luggage of the Stars. The suitcase manufacturer Rimowa is already more than 100 years old, but it was not until 2000 – in-chief Dieter Morszeck the big breakthrough by a company with a good idea and clever Marketing. more…

In Germany, he was not represented so far. In the past few years, concentrated LVMH on the Expansion in Asia and, more generally, in the emerging countries. Since then, the weakening, brings Europe more into focus. In two years, the cooperation between German and French luxury manufacturer, became close, the two associations, the Comité Colbert and mostly circular.

Rimowa is not a spontaneous purchase. Arnault has already established two years ago to contact Morszeck. Son Alexandre was in charge of the connection to Dieter Morszeck to stabilize. As you can see, was crowned the attempt of success. The family-owned company will implement according to information from Paris in this year was about 400 million euros. In 2015, the company made about 3,000 employees in the 2015 financial year with a turnover of around 350 million euros, approximately 28 percent more than in the previous year. For Arnault that is very little, but the Frenchman has a knack for developing strong brands.

Rimowa-suitcase made of aluminum and plastic are manufactured for more than 115 years in Cologne, according to the company, the more than 200 work steps-in-hand work. The Name goes back to the founder, Rimowa stands for Richard Morszeck trademark. Managing Director today, the grandson, Dieter Morszeck, Rimowa will also continue to manage with.

He leads the third Generation of the shops at Rimowa, and has made the company great. When he took over in 1984 the post of CEO in the family business from his father, Rimowa the equivalent of three million Euro – in the meantime, there are several Hundred million. Morszeck has formed the small, medium-sized company, a luxury manufacturer, the sizes as Samsonite claims against the industry.

Under 300 euros, you will not get a Rimowa-suitcase, the most expensive models cost several Thousand euros. The company is one of the few case manufacturers that do not produce in Asia, but in the Czech Republic, Brazil, Canada and Cologne

Dieter Morszecks father Richard has formed the name in the 50s. The Senior was also followed by the typical ripple structure of the pieces of Luggage. In 1950 he came up with the idea to use the Aluverkleidung of aircraft for suitcases. In the office of Dieter Morszeck, a picture of his father hangs on the wall, next to one of his grandfather, who founded the company in 1898.

With the discovery of polycarbonate, a strong and light Material, for the manufacture of suitcases was able Morszeck in 2000, the breakthrough, earlier, had the company specializing in aluminum case. “That was the best idea of my life,” he said in 2013 in an interview with the Handelsblatt.

Today, the largest part of the sold-Rimowa-suitcase made of plastic and not aluminum. On location in Cologne, the aluminium will be produced-case in a Three-shift-operation-in-hand work. “We may not be the cheapest, but the best,” he told Handelsblatt.


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