by two City firms to open doors to new ventures on Front Street in the Bank of Butterfield Mall.

After a period of consolidation, Tolaram Ltd. this weekend opens its new store, Louis Vuitton, selling a large line of products from the French company.

And clothier, Hornburg Calypso Ltd., will open its seventh Bermuda store, Additions, by April, located nearby in the same mall.

Coincidentally, it was Calypso which previously owned the rights to sell Louis Vuitton in Bermuda.

A near 47-year old association came to an end when Calypso divested itself of the "franchise'' for Louis Vuitton Malletier products at the end of 1996.

Calypso sold Tolaram Ltd. its 60 percent stake in the Louis Vuitton operating company here, Atlantic Luggage Co., reportedly for more than $100,000. Neither party would confirm or deny that figure, yesterday.

The other 40 percent is owned by L.V. N.A. Inc., the US division of Louis Vuitton.

Atlantic Luggage was formed by L.V. N.A. and Calypso in 1987, before signing a "franchise'' contract to distribute the Louis Vuitton Malletier goods. A fee of 20 percent of net sales was paid to the US distributor, Louis Vuitton N.A.

Inc. in New York on top of wholesale costs.

Calypso founder, the late John Hornburg, first began selling Louis Vuitton Malletier goods in 1952 in the store he and his wife Polly Hornburg began after the Second World War.

Calypso general manager, Pierre Dutoya, said that Louis Vuitton products last year comprised a tiny portion of the total sales of Calypso, which now has stores across the Island, including United Colors of Benetton on Reid Street.

He said Calypso's new Front Street store, Additions, will sell leather goods and shoes.

Tolaram Ltd. director, Greg Tolaram, said that with an expanded presence here, the Louis Vuitton group has been busy helping ready the local store for its opening.

He said a new wholesale arrangement had been struck with the US representatives of the French group in the absence of a standing fee.