Cicli Pinarello, the Italian cycling company, is set to be bought by LVMH, the French conglomerate behind high-end luxury brands such as Louis Vuitton, Dior, and Moet et Chandon. If the transaction is confirmed, it would be LVMH's first move into the sports and wellness markets. There should be no change at the head of Pinarello, with Fausto Pinarello, the current chief executive, remaining in his position. With reference to the press leaks on the subject, the Pinarello family had recently confirmed that it was not considering leaving the business, although it was indeed evaluating different options to further strengthen the brand in the world. The company was founded by the Pinarellos in 1952, and is still guided by the founding family. Pinarello has an annual turnover of €51.5 million and sells 85 percent of its products outside of Italy, especially in the U.S., Japan and Australia. Pinarello bikes have won 12 Tour de France, along with many other prestigious cycling races. Pinarello has been the bike provider of Team Sky, the British professional cycling team, since 2010.