Belmond and the Cipriani family have reached an agreement to put an end to all litigations between them around intellectual property.
The legal issues can be traced back several decades and predate LVMH’s acquisition of Belmond.
As part of the agreement the Hotel Cipriani of Venice, a flagship property of Belmond, will be the only one in the world with that name.
The Cipriani Group will be able to continue to expand its hospitality activities with some of its projects developed with Belmond as partners.
What they said
Roeland Vos, CEO of Belmond, said: "The agreement with Giuseppe Cipriani and his family marks the start of a new era for both Belmond and the Cipriani Group. We are very proud of the Hotel Cipriani, our mythical hotel in Venice, its magical location and the unique experiences it delivers to our guests. We wish the Cipriani family continued success in high quality hospitality.”
Giuseppe Cipriani, CEO of Cipriani Group, said: "We are grateful to Belmond and Mr Arnault for their openness to find a solution to longstanding litigations. Our family has been in luxury hospitality since my grandfather started in Venice in 1931. My father Arrigo, myself and my two sons have built on the Venetian heritage and the exceptional Italian gastronomy giving them worldwide desirability. We are happy to be able to continue the development of our family business within an appeased context.”