The forming of M-shape Society changes the consume structure, and causes the fashion industry arisen. With the wave of acquisition in fashion industry in the 90¡¦s, now it has become only several fashion groups survive in the industry instead of numerous private independent companies. It¡¦s attractive for the companies to benefit from the connect effect of multi-brand coalition and single star brand. Therefore, we choose LVMH (Louis Vuitton - Moët Hennessy), a leading group in fashion industry, as the example in this thesis to analyze the M&A strategy of fashion groups. There are three issues we would like to discuss in this thesis: 1.To find out the motives and purpose of M&A strategy of fashion groups. 2.To find out how fashion groups choose the M&A objectives. 3.To understand what¡¦s the synergy that fashion groups pursue. Several important finding are as follow: 1.The motives of M&A strategies are enlarging the scope, entering new market and acquiring the resources and techniques. 2.Fashion groups value the brands with heritage, but acquire energy by the innovative brands. 3.The advantage of fashion group is the closed relationship between brands and the groups, and this can strengthen the position of each other in consumer mind. 4.Fashion brands depend on the star brands to operation effectively. Star brands are also the key factor to induce the synergy and the function of resources sharing.

La France est aujourd’hui le leader mondial du luxe. Elle le doit à la force de sa tradition mondialement reconnue, mais aussi la puissance de ses groupes multinationaux (LVMH, Kering, mais aussi de ses entreprises familiales telle Hermès). En revanche, la Corée constitue l’archétype du marché porteur, entre le Japon et la Chine, mais aussi voit se créer une économie nationale du luxe, à travers certaines firmes de mode, le développement l’hôtellerie haut de gamme et celui des croisières de luxe. Il existe donc de nombreuses raisons de comparer les deux pays et, à partir notamment de l’exemple français, de procéder à une étude des comportements des consommatrices et consommateurs Coréens de luxe, à travers la prise en compte des origines historiques du luxe en France et en Corée du Sud, puis d’une analyse des réalités spécifiques à la Corée. / Today France is the world leader in luxury. It owes to the strength of its world-renowned tradition, but also the power of its multinational groups (LVMH, Kering, but also his family business as Hermes). However, Korea is the archetype of the growing market between Japan and China, but also seen to be a national luxury economy through some fashion firms, the development of upscale hotels and the cruise luxury. So there are many reasons to compare the two countries, in particular from the French example, to conduct a study of the behaviours of Korean luxury consumers, through the consideration of the historical origins of luxury in France and South Korea, and an analysis of the specific realities of Korea.

Purpose: How Chinese people behave toward French Luxury Brands? Method: This paper is built on a deductive approach following three main hypotheses. Secondary datawere retrieved from books, studies and articles found in Halmstad library and several databases.Moreover, primary data were also collected through a questionnaire; which shapes the major lines ofour conclusions. Theoretical Framework: The frame of references follows our three hypotheses. First, the culturaldifferences between France and China are highlighted through concepts such as: Hofestede culturaldimensions, Mezirow’s theory and Guanxi. Then, the Mianzi philosophy and the flying geeseparadigm are used to support the hypothesis that brands could be used as social markers. Finally,several theories about the country-of-origin effect are used to analyse the image of French products in China. Conclusion: The authors conclude that French luxury brands are considered on the Chinese south-eastcoast as a mark of high quality, prestige and fashion. These features partly motivate their purchasingdecision, whereas the country-of-origin itself is not a convincing argument. These brands, usuallyexpensive, are nowadays perceived by Chinese as a way to emphasis their wealth and thus socialstatus. This behaviour shows a growing individualism toward French luxury brands ownership in acountry historically ruled by collectivism. The contributions and further studies possible are finallyestablished at the end of this paper.