LVMH fuels its other ‘jewels’ after Tiffany acquisition: takes Fred to Australia
- F S
- Dec 24, 2019
- 1 min read
The Paris-based jewelry company, owned by LVMH, has opened its first store in Australia in Sydney Westfield shopping mall.
LVMH gives love to its other jewelry brands. The jewelry company, owned by French luxury holding LVMH, has opened its first Australian store at the Sydney Westfield shopping mall.
Fred was founded in 1936 by Argentine-born designer Fred Samuel. The founder was one of the first designers to ever work with precious stones like pearls. The jewelry company’s signature piece is the Force 10 bracelet, created in 1966 that reflects the maritime influence of the brand.
LVMH has given a new life to the heritage brand with new openings in Asia and a new leader. Fred’s chief executive officer is Charles Leung, appointed in July to lead the expansion of the brand in Asia with an eye set on the new generations.
LVMH, which recently acquired American jewelry company Tiffany for 16.2 billion dollars, closed the first nine months of its fiscal year 2019 with an increase of 16% in sales, to 38.9 billion euros. Its organic revenue, on the other hand, grew 11%.
The Paris-based company’s store is located in the biggest shopping malls in Sydney. Run by Scentre Group, the Sydney Westfield is in the city’s central business district it has six floors and a total commercial area of 1,807,380 square feet.
The shopping mall is the result of a transformation plan of 860 million dollars. The spot was once occupied by Centerpoint Shopping Center that redeveloped into the name it currently holds. The shopping center has space for approximately 360 brands.
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