PARIS — LVMH Moët Hennessy Louis Vuitton has acquired Arnys, a French men’s wear purveyor with roots stretching back to 1933 — and a plum retail site on the Left Bank here, WWD has learned.
The French luxury giant — which is putting management and financial muscle behind cult cobbler Berluti and transforming it into a hyper-luxurious lifestyle label for men — plans to use Arnys’ made-to-measure expertise to launch Berluti into that business.
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The historic Arnys boutique at 14 Rue de Sèvres, with a corner location across from the new Hermès flagship and a stone’s throw from the LVMH-owned department store Le Bon Marché, is expected to become a flagship Berluti unit in mid-2013.
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Former Louis Vuitton executive Antoine Arnault, son of luxury titan Bernard Arnault, is piloting Berluti’s expansion. He plans to enlarge its existing boutique network and seek larger locations to house a growing range of products, including ready-to-wear, under the creative leadership of Alessandro Sartori, formerly a designer at Ermenegildo Zegna.
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Sartori is slated to unveil his second Berluti collection on June 29 here during men’s fashion week.
LVMH is to acquire Arnys from Jean and Michel Grimbert, members of the third generation of the founding family, and to absorb its craftsmen and boutique staff. Jean Grimbert, 65, is expected to remain active in the business and atelier, with Sartori leading Berluti’s made-to-measure activities. It is understood the label on handmade suits will read Berluti by Arnys.
It is understood LVMH could reveal the Arnys deal as early as today. Financial terms could not immediately be learned.
According to market sources, Arnys generates revenues of around 10 million euros, or $12.6 million at current exchange, and employs 20 people.
Best known for its handmade suits and tab-collared Forestière city jacket, Arnys has dressed the likes of Pablo Picasso, Ernest Hemingway and, more recently, Pierre Bergé and François-Henri Pinault. It has earned a cult following due to its proximity to government offices and the influential college Sciences Po.
Last year, the firm broke with tradition and started staging runway shows during men’s fashion week in Paris, parading its country-squire apparel and accessories.
The future of Arnys’ rtw and other products could not immediately be learned. The brand is due to present its spring-summer 2013 collection on July 1.
Arnys also operates a store in Megève, France, and its products are carried in about 20 stores in Japan plus a handful of multibrand boutiques in the U.S.
According to market sources, French retail-to-luxury group PPR also kicked the tires at Arnys as the rival luxury groups seek to bulk up their assets in the fast-growing men’s arena.