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Moët Hennessy to diversify into cycling?
Keen cyclists in the drinks trade – of which there are many – will no doubt be intrigued to learn that Moët Hennessy is in talks to buy Rapha.
According to The Daily Mail, the luxury goods group LVMH has approached Rapha, the manufacturer of top-end cycling clothing and bike-related accessories – and a brand worn proudly by the fashion-conscious peddler.
The reputed move by LVMH takes the company into the new realm of sports products, albeit exclusive ones.
Indeed, the French company is already believed to be in talks to purchase Italian bike brand Pinarello.
LVMH, best known as the owner of Louis Vuitton and Moët & Chandon, currently has no sports brands in its extensive portfolio of luxury drinks and fashion labels.
The Daily Mail noted that Rapha had filed a pre-tax profit of £1.1 million for the year ending January 31 2016.
The brand was started in 2004 by former brand consultant Simon Mottram and is headquartered in London, although it has an office in Portland, Oregon.