LVMH to control luxury case maker Rimowa

French luxury group LVMH, owner of the Louis Vuitton brand, has agreed to buy an 80% stake in high-tech luggage maker Rimowa for €640m, marking its first acquisition in Germany.

Founded in Cologne in 1898, Rimowa has built a reputation for designing lightweight and easy to use luggage and expects revenue of over €400m this year.

LVMH is buying the stake from Dieter Morszeck, grandson of the founder of Rimowa, who will retain a stake in the business and maintain his leadership role.