May 18, 2000
LVMH Adds Omas to Luxury Division
LVMH Moet Hennessy Louis Vuitton, the Paris-based luxury products group, has acquired the majority of shares of Omas, the high-end Italian writing instruments company. Omas will join luxury watch brands Chaumet, TAG Heuer, Ebel, Zenith, Fred, Christian Dior in LVMH's newly created watch and jewelry division.
In the U.S., that division is led by Susan Nicholas, formerly TAG Heuer president, and based in Springfield, NJ. How Omas will be distributed in the U.S. has not yet been determined.
Considered one of the exclusive brands in the high-end pen industry, Omas sells through many fine jewelry stores here. Gianluca Malaguti, grandson of the company's founder, will continue to serve as CEO of Omas. His family, which founded the Italian company in 1925, retains a minority share. The company's sales last year were approximately $5.5 million.
- by Michael Thompson