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LVMH Alters Course, Sells Kors Fragrances To Estée Lauder Cos.

Another step has been taken in the shedding of LVMH’s noncore beauty assets with the sale of the Michael Kors fragrance license to Estée Lauder.

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McDonald said the decision to part with the Kors brand was one that took a long time to make, but she saw it as a compliment to her staff and LVMH in creating a brand of such value. “It’s a bittersweet time for us,” she said. “We never like to see our children grow up and move out of the house. But it’s something that could be harvested for the benefit of the more core business and the delivered value could be reinvested elsewhere.”
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