Worlds leading luxury group LVMH Moët Hennessy Louis Vuitton SE (LVMH), will acquire global luxury jeweler Tiffany & Co. for approximately $16.2 billion.
Details provided below:
- LVMHs position strengthens with the acquisition of Tiffany in global jewellery market.
- With this deal Tiffany will transform LVMHs Watches & Jewelry division and complement LVMHs 75 distinguished Houses
- The transaction between LVMH and Tiffany is expected to close in the middle of 2020 and is subject to customary closing conditions.
- New York based Tiffany has been synonymous with elegance, innovative design, fine craftsmanship and creative excellence. Since 1886, Tiffany has stood for love and affection and its extraordinary jewellery designs sets new excellence in global jewellery world. Tiffany Blue Box is recognized worldwide as an icon of fine-tuning and desirability.
- Tiffany opened its the first store in 1837 in downtown Manhattan, and today it is the leading luxury brand originated in the United States and delights discerning customers in more than 300 stores around the globe.
- Tiffanys designers for necessary components inspire from nature, precious metals and natural gemstones for the creation of designs.
- Bernard Arnault, Chairman and Chief Executive Officer of LVMH, commented: We are delighted to have the opportunity to welcome Tiffany, a company with an unparalleled heritage and unique position in the global jewelry world, to the LVMH family. 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. We will be proud to have Tiffany sit alongside our iconic brands and look forward to ensuring that Tiffany continues to thrive for centuries to come.
- TIFFANY & CO. has more than 14,000 employees, in nvolves in design, manufacture and market jewelry, watches and luxury accessories.
- Worlds leading luxury group LVMHs Watches and Jewelry division comprises of world known brands like: Bvlgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred and Hublot.