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prada ski jacket expedition, predicted Arnault would look for new jewellery and watch making acquisitions soon.They also predicted the deal could set off an avalanche of wider takeovers in the luxury goods sector. Sales to China, Russia and India are booming and Goldman Sachs predicted this week that "600 million new consumers are set to enter the luxury goods market by 2025".LVMH's coup in capturing Bulgari frequently said "not to be for sale at any price" interrupted a run of bad publicity for the Paris based company.One of the Arnault empire's "founder members", fashion house Christian Dior, was trailed through the mud last week by the "I love Hitler" comments of its British chief designer John Galliano since fired.In recent months, LVMH has been in an acrimonious takeover battle with the posh, French handbag and scarf maker Hermes. LVMH acquired 20 per cent of Hermes shares late last year, despite frequent warnings by the smaller, independent company that such interest was regarded as "hostile".Arnault and LVMH have insisted they are merely courting Hermes in search of "partnerships" and "synergies".The acquisition of the loss making Bulgari seems to have been consensual. After secret negotiations ended at the weekend, it was announced that LVMH would take all the family owned majority stake in the Italian company. LVMH would swap 16.5 million of its own shares for the 152.5 million shares owned by the Bulgari family.This valued the 51 per cent family stake at 1.84 billion. LVMH is also to offer 12.25 a share to other holders of Bulgari equity which could bring the total cost of the deal to 3.7 billion to 4 billion.The Bulgari family will name two representatives to the LVMH board and Bulgari chief executive Francesco Trapani will become head of LVMH's watches and jewellery division.Arnault started with a small family building company in the north of France in 1971. His early wheeling and dealing, to break into the luxury goods market, was often criticised. He has long since become one of the French great and good.He fought, and lost, a vicious legal and commercial battle for control of Gucci with Pinault a decade ago. That aside, he has had few failures.Sources in LVMH