Sabato, 22 Settembre 2018

French LVMH acquires majority share of Cova pastry brand


Milan, June 27 - French holding LVMH, the world's
largest luxury group, acquired a majority shareholding in
Milan's historical Cova pastry-shop brand, based in the heart of
the city's well-heeled fashion district, the company said on
Family-owned Cova shop, founded in 1817 on the spot where
the La Scala theater is today, has been located on the stylish
via Monte Napoleone since 1950.
Owners Mario Faccioli and daughters, Paola and Daniela,
will stay on as members of the management team "to ensure the
continuity and success" of the brand, the LVMH said.
The French group said that the acquisition was made to
"vigorously support the development (of Cova) at the
international level".
Cova open shops abroad starting in 1994 with its pioneer
oversees pastry shop in Hong Kong and franchises its products in
Tokyo and Shanghai and in parts of Italy.

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