Fabled American jewellery Tiffany & Co. finally joins the LVMH family in what is possibly the French luxury group’s biggest acquisition yet. After an initial bid of around $120-per-share and weeks of negotiation, the two brands have finally shaken hands and settled on $135-a-share — resulting in a $16.2 billion deal.
Further strengthening LVMH’s presence — not to mention its current reputation as the world’s largest luxury goods conglomerate — this joining of hands is certain to bring about waves of change for both brands, as well as the global luxury sector as a whole. With unparalleled craftsmanship, rich cultural values, and long standing expertise, this marks an exciting new chapter for Tiffany & Co. as it sets on a new path under LVMH.
The acquisition will also help LVMH gain exposure to the bridal and diamond segments of high jewellery, while further strengthening its brand positioning towards luxury U.S. clientele. In the words of Bernard Arnault, the French business magnate who sits at the group’s helm, “We are delighted to have the opportunity to welcome Tiffany to the LVMH family.”
To find out more, visit lvmh.com.