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Richemont Acquires Delvaux

The luxury conglomerate has acquired 100 percent of the Belgian leather goods maison in a private transaction.
Delvaux Le Brillant. Delvaux.
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The luxury conglomerate said Wednesday it has acquired 100 percent of the Belgian-based leather goods maison in a private transaction from First Heritage Brands, owned by Hong Kong billionaires Victor and William Fung. The brothers took a majority stake in the company in 2011 with Singapore state investment company Temasek Holdings. The financial details of the deal have not been disclosed.

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