French conglomerate LVMH buys Tiffany & Co. jewelry brand
The French conglomerate LVMH, which owns numerous luxury companies, including Dior, Louis Vuitton, Givenchy, Celine, Fendi, this time bought the jewelry brand Tiffany & Co. The deal amounted to $ 16.2 billion.
This takeover of the company became the largest in the history of the French conglomerate after the purchase of Christian Dior in 2017 for $ 13 billion. Initially, purchase negotiations were conducted from the end of October, then LVMH was offered by Tiffany & Co. $ 14.5 billion, but the company said the price was inadequate. With the new acquisition, LVMH is expected to not only strengthen its position in the jewelry segment, but will expand its presence in the US market as a whole. Recall that recently Tiffany & Co. released a New Year's collection of jewelry.
Treasure Box: New Tiffany & Co. Collection