LVMH acquired Tiffany & Co for USD$16.2 billion. It was announced yesterday Monday 25 November, after long negotiations.
As published here on 7 November 2019, the American jeweller rejected the behemoth French luxury power house, that previously offered USD$14.5 billion. This acquisition sets the tone for the luxury industry at large. It is indicative of the potential Mr Arnault of LVMH foresees for Tiffany & Co. “We have an immense respect and admiration for Tiffany and intend to develop this jewel with the same dedication and commitment that we have applied to each and every one of our Maisons [brand houses],” Arnault said.