LVMH ACQUIRED TIFFANY & CO. IN A $16.2 BILLION DEAL

That’s a hefty amount of deal!

Luxury brand, Tiffany & Co. is now under the wing of LVMH, alongside with Louis Vuitton, Celine, Christian Dior, Kenzo, GivenchyMarc Jacobs and Rimowa.

In a report that was originally published by Business Of Fashion (BOF), LVMH has reached a $16.2 billion deal to buy American jeweller Tiffany & Co. The deal ends a month of speculation, after news that the French conglomerate had approached the storied jeweller leaked in October.

This latest acquisition, will transform LVMH’s position in the hard luxury division in the United States. According to BOF, the deal also allows LVMH to gain further ground on Swiss conglomerate Richemont, which owns Cartier and Van Cleef & Arpels, and has long dominated the hard luxury category.

MORE FROM STYLEMNL.NET  ADIDAS DROPS THE NEXT GENERATION OF RUNNING GREATNESS WITH ULTRABOOST UNCAGED

About the Author

Ed Lorenzo is a PR and Marketing practitionaer who loves fashion, photography and traveling. Follow him on instagram and twitter @edryanlorenzo to get to know more of his sojourn.

READ NEXTX