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LVMH to buy U.S. jeweller Tiffany for $16.2 billion

cde.news desk · 1 min read
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epa07956584 (FILE) - US jewelry and silverware company Tiffany & Co.'s corporate logo is seen at a company's shop in Tokyo's upscale Ginza shopping district in Tokyo, Japan, 22 August 2008 (reissued 28 October 2019). Reports on 28 October 2019 state LVMH, Moet Hennessy Louis Vuitton SA, the world's leading luxury group, said it has made an non-binding unsolicited offer to purchase the luxury brand Tiffany & Co. EPA-EFE/DAI KUROKAWA

Louis Vuitton owner LVMH has agreed to buy U.S. jeweller Tiffany for $16.2 billion in the luxury goods maker’s biggest acquisition to date.

The $135-per share cash deal will boost LVMH’s smallest business, the jewellery and watch division that is already home to Bulgari and Tag Heuer, and help it expand in one of the fastest-growing sections of the industry.

Fashion and accessories brands including Christian Dior generate the bulk of earnings at LVMH, run by France’s richest man, Bernard Arnault, though growth in jewellery has shone in recent years.

Via Reuters

Filed under BusinessUSA
Topics LVMHTiffanyUSA

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