Tiffany & Co has asked Bulgari owner LVMH to raise its $14.5 billion acquisition offer, arguing that it significantly undervalues the U.S. jewelry chain, people familiar with the matter said on Wednesday.
Tiffany investors are hoping for a higher offer than LVMH's proposal worth $120 a share. But the deal will require a lot of polish if it is to make sense for the French company’s shareholders, analysts say.
John Galliano has renewed his contract as creative director of the house of Maison Margiela, in a vote of confidence in the controversial British designer by the brand's owner, Italian billionaire Renzo Rosso.
The luxury label owned by LVMH has doubled its leather goods production capacity in Tuscany with a new site in Radda in Chianti. The site, in which Celine invested over €20 million, is set to double its staff by 2021.
Luxury conglomerate LVMH has acquired a stake in Madhappy, the American direct-to-consumer casualwear brand, via LVMH Luxury Ventures, an investment vehicle with the group that previously bought into Gabriela Hearst.