Lawstreet Journal

Luxury Giant LVMH To Buy Tiffany For $16.2 Billion In Mega Luxury Deal

Lawstreet Journal 26 Nov 2019 5:41pm

Image courtesy: Lawstreet Journal Business Luxury Giant LVMH To Buy Tiffany For $16.2 Billion In Mega Luxury Deal

LVMH (Moët Hennessy Louis Vuitton), the world’s largest luxury goods company on November 25, 2019, has decided to buy Tiffany & Company in a $16.2 billion deal, the largest ever in the luxury sector.

The acquisition is expected to give LVMH a bigger foothold in the United States, as well as help Tiffany in Europe and China. It will also cement the status of Bernard Arnault, the LVMH chairman and chief executive, as the most acquisitive deal maker in the luxury business.

“Tiffany is an American icon and was on the list of brands for a long time we thought was a good potential match,” Mr. Arnault said in a telephone interview to The New York Times.

Adding another prominent American name to the LVMH stable of brands, which includes Dior, Givenchy, Fendi and Dom Pérignon, the mega-deal would help the company to reach at a leadership position not only in traditional soft luxury goods like clothing and handbags, but also in what is known as the hard luxury sector, which includes watches and jewellery.

The agreement with Tiffany, known for its signature blue boxes and a prominent role in the Audrey Hepburn film “Breakfast at Tiffany’s,” is the second major investment in an American brand for LVMH this year since it created a new luxury house, Fenty, with musician and actor Rihanna.

The deal is expected to close in the middle of next year after receiving approval from Tiffany’s shareholders.

(With inputs from agencies)

Continue Reading...

Tagged: Louis Vuitton   TIFFANY  
Disclaimer: SoOLEGAL in Media collaboration with Lawstreet Journal. SoOLEGAL take no responsbility for the content provided by Lawstreet Journal. For any discrepancies Contact Lawstreet Journal.
Did you find this write up useful? YES 1 NO 0
Featured Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.
×

SAARTHTo Know More

Launching Soon : SAARTH, your complete client, case, practise & document management SAAS application with direct client chat feature.

If you want to know more give us a Call at :+91 98109 29455 or Mail info@soolegal.com