CELEX: 32015M7568
Language: en
Date: 2015-04-24 00:00:00
Title: Commission Decision of 24/04/2015 declaring a concentration to be compatible with the common market (Case No COMP/M.7568 - M1 FASHION / LVMH / PEPE JEANS GROUP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 24.4.2015
                                        C(2015) 2904 final

|PUBLIC VERSION                                   |
|                                                 |
|SIMPLIFIED MERGER PROCEDURE                      |

|                                                                       |To the notifying parties:                                              |

Dear Sirs,

Subject:    Case M.7568 - M1 FASHION / LVMH / PEPE JEANS GROUP
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 27/3/2015, the European Commission received notification of a proposed concentration pursuant to Article 4 of the  Merger  Regulation  by
    which the undertaking L Capital Asia 2 Pte. Limited ("L Capital Asia", Singapore), controlled by LVMH Moët Hennessy  –  Louis  Vuitton  S.A.
    ("LVMH", France) and the undertaking M1 Fashion Limited ("M1 Fashion", British Virgin Islands) acquire within the meaning of Article 3(1)(b)
    of the Merger Regulation joint control of the whole of the undertaking Pepe Jeans S.L. ("Pepe Jeans Group", Spain) by  way  of  purchase  of
    shares.[3] LVMH is controlled by Groupe Arnault S.A.S., which also controls Christian Dior S.A.

 2. The business activities of the undertakings concerned are:

  – for LVMH: production and sale of luxury goods (wines and spirits; fashion and leather goods, including accessories; perfumes and  cosmetics;
    watches and jewellery; selective retailing as well as the luxury yachts industry).

  – for M1 Fashion: investing in different economic sectors including  sale of luxury fashion and leather goods under Façonnable brand.

  – for Pepe Jeans Group: sale of luxury fashion products under Hackett brand and of denim fashion under Pepe Jeans brand.

 3. After examination of the notification, the European Commission has concluded that the notified operation  falls  within  the  scope  of  the
    Merger Regulation and of paragraph 5(c) of the Commission Notice on a simplified procedure for treatment  of  certain  concentrations  under
    Council Regulation (EC) No 139/2004.[4]

 4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose  the  notified  operation
    and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b)
    of the Merger Regulation and Article 57 of the EEA Agreement.

                                        For the Commission
                                        (signed)
                                        Alexander ITALIANER
                                        Director-General

                                        -----------------------
[1]   OJ L 24, 29.1.2004, p. 1 (the "Merger Regulation"). With effect from 1 December 2009, the Treaty on the Functioning of the  European  Union
    ("TFEU") has introduced certain changes, such as the replacement of "Community" by "Union" and "common market"  by  "internal  market".  The
    terminology of the TFEU will be used throughout this decision.

[2]   OJ L 1, 3.1.1994, p. 3 ("the EEA Agreement").

[3]   Publication in the Official Journal of the European Union No C 114, 9.4.2015, p. 4.

[4]   OJ C 366, 14.12.2013, p. 5.