and registering a vote of confidence for sophisticated heels in a world of sneakers.
That’s in keeping with the 4.4 times revenues LVMH Moët Hennessy Louis Vuitton paid for Tiffany & Co. in 2021 and the 4.2 times revenues VF Corp. paid for Supreme in 2020. Erin Schmidt, an independent retail industry consultant, said, “Perhaps this is a great time to do it, while there are a lot of moving parts. This is a time of change and evolution. I believe at Kering these are exciting changes for them and they’re also seeing growth in their other brands, like Bottega Veneta and YSL.”
And while the case still needs to be made for any wheeling and dealing in more mainstream brands, it seems to be all lights green when it comes to brands with deep heritage that sell to the one percent of the one percent.