With the brute strength of the French giant on the one hand and the high growth potential of the American jeweler on the other, LVMH's acquisition of Tiffany & Co. looks set to be a positive move for all concerned.
Jewellery is a booming, sought-after sector, as shown by LVMH’s recent bid for Tiffany & Co. FashionNetwork looks into the advantages and potential of an industry still little-known and underexploited by luxury groups.
It is hard to imagine a more venerable luxury brand than Cartier, which has a reputation for artisanal excellence second to none. Yet, the majority of its audience is that lodestone of modern marketing, millennials.
Louis Vuitton owner LVMH on Wednesday reported better-than-expected revenue growth for the third quarter, in spite of months of unrest in Hong Kong that have put off tourists and forced luxury labels to shut stores.
The company set up from scratch in 2014 by luxury group Kering, the industry’s first to internalise its eyewear business, is about to top the €500 million revenue mark, and says it isn’t interested in Safilo.