Scoop: Louis Vuitton buys Aston Martin
All the bids are in and the winning bidder has been revealed: Aston Martin is being bought by LVMH Moet Hennessy Louis Vuitton SA, the French luxury goods consortium that produces upper-crust products ranging from leather trunks and wallets to champagne and cognac...and now exotic luxury sports cars, too.
In placing the highest bid, Louis Vuitton beat out some serious contenders, including consortia led by Aston's current boss, billionaire moguls and numerous heavy-hitting investment firms.
Ford Motor Company will reportedly retain 15% interest in Aston Martin when Louis Vuitton takes over. Although both Ford PAG and Louis Vuitton declined to comment to DowJones MarketWatch, the media outlet that broke the story, German car mag Autobild will be running the story tomorrow (Friday).
While there has been a history of fashion labels and automakers collaborating on special editions – including Aston Martin and Dunhill – the purchase of a stoic marque like Aston Martin is pioneering new ground, although Louis Vuitton does have an established history in sponsoring concours d'elegance.
Gold and brown DB9, anyone?
UPDATE: Motor Trend is reporting that the published reports regarding a sale to LVMH are inaccurate.Related Posts:
- Did you get your bid in? Auction closed for sale of Aston Martin
- Ford tells bidders Aston will earn $109 million
- Aston Martin sale imminent
- Aussies make bid for Aston Martin
[Source: MarketWatch]
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this has to be the worst decision ever. A British car company given to THE FRENCH!? Louis Vuitton is a worn out brand, one whose name is overused in the US. May god have mercy on Aston Martin's soul for what the kooky french are going to do to the brand. You just watch, give it a few years and all that time, money and reconstruction Ford put into Aston Martin will be wasted, utterly wasted. what a shame.
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Carlos 3:09PM (2/02/2007)
I pray that LV keeps Aston Martin a viable sports car manufacturer and doesn't turn it into a rolling purse company
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Johnathan 1:26PM (2/02/2007)
I think its good that someone purchased Aston Martin now maybe Ford will have alittle extra cash to work with ....
But they'll probably just blow it on something else that's pointless.
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Arash | Modeblog.nl 3:05AM (2/02/2007)
Good move for LVMH. Based on their brand value, network and know how of how to make a exclusive brand bigger it can be a big step for a luxury brand.
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BOB 8:46PM (2/01/2007)
I was a little surprised, but this company wants to be the main purveyor of luxury goods to the world. They own a number of the top design houses in France, the US, Spain, and Italy, plus Tag Heuer, store chains, and more. No doubt Aston is a luxury product, and I doubt it will be ruined.
Ford did not need such a small company: perhaps its size kept them from doing the meddling I suspect they did to Jaguar.
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Brad 12:15AM (2/02/2007)
Perfect! Maybe they should rename the company "We Take Money from Dumb Rappers."
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P. Andco 3:59PM (2/02/2007)
This is interesting. Aston Martin does fit in to their luxury portfolio. I wonder only wonder if a company known for fashion will be successful running a car company.
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Gavin 8:42PM (2/01/2007)
Great! Last year it was the bag...now my wife is going to want an Aston!
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rrr 8:13PM (2/01/2007)
I guess it makes sence. But wouldn't it make sence for Ford to make a partnership with LVMH or Gucci or Chanel to desighn the interior while Ford took care of engines.
But i am kind of happy it happened, look at what Ford did to Jaguar, they killed that car. They turned a classic into Tourus look alike. Look at what they did to Lincoln................shame
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Ben 1:36AM (2/02/2007)
WAY TO GO FORD !!!!!!!!!!
Now they can upscale Jaguar w/out worrying about Aston Martin and start putting their house in order. And to all the nay sayers .... Go suck on a lemon ( or a GM or Toyota or whatever turns your crank)
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DiedFamous 9:23PM (2/01/2007)
Noooooooo! They'll fire all of the race engineers and bring in the gay interior designers! They'll put cars on display at fashion shows! Its the end of Aston as we know it!
...Or not, but still, I would have rathered the Arab prince/oil baron had won it, those guys are the embodyment of hoondage.
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B-noit 8:40PM (2/01/2007)
Wow. I'm a little shocked. Eager to see what will come of this... And I really hope it all works out, because as much as Ford has done a terrible job with Jaguar and Lincoln, they definitely proved themselves with Land Rover's turn-around and even moreso with Aston Martin. I wish Louis Vuitton and Aston Martin all the best.
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yumyum 8:29PM (2/01/2007)
The French? Yes, they do produce some quality luxury goods. But, when it comes to automobiles...uhmmm.
Citroen? Peugeot?
NO!!!!!!
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chuck goolsbee 8:32PM (2/01/2007)
If Ford is willing to sell AM, why can't they offload Jaguar alone, instead of insisting it be bundled with Land Rover? They had a willing buyer in Sir Anthony Bamford:
http://www.autoblog.com/2006/08/24/jcb-owner-considers-purchase-of-jaguar/
--chuck
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Sam 8:40PM (2/01/2007)
this has to be the worst decision ever. A British car company given to THE FRENCH!? Louis Vuitton is a worn out brand, one whose name is overused in the US. May god have mercy on Aston Martin's soul for what the kooky french are going to do to the brand. You just watch, give it a few years and all that time, money and reconstruction Ford put into Aston Martin will be wasted, utterly wasted. what a shame.
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