The world’s biggest luxury goods company is buying US-based jeweller Tiffany & Co for more than $16bn.
The deal gives LVMH’s billionaire owner Bernard Arnault a bigger slice of one of the fastest growing luxury sectors.
He said Tiffany had an “unparalleled heritage” and fitted with its other brands, Louis Vuitton and Bulgari.
Tiffany has suffered falling jewellery sales, hit by lower spending by tourists and a strong US dollar.
Tiffany is something of a New York institution and its flagship store is next to Trump Tower on 5th Avenue. The company hit global fame after being featured in the 1961 Audrey Hepburn film Breakfast at Tiffany’s.
Founded in 1837, it employs more than 14,000 people and operates about 300 stores.
Mr Arnault has coveted the business since buying the Bulgari brand in 2011 for $5.2bn. The Tiffany
DJ Spinall is the latest superstar to feature on Simple Magazine‘s first issue of 2018. Speaking to the Magazine,...
igerian Afrobeats superstars Kizz Daniel and Timaya are set to light up Kigali this July as headliners for the...
Mercy Aigbe has reveale what her daughter, Michelle told her when she informed her of her intentions about marrying...