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.
Luxury giant LVMH and American jeweller Tiffany have confirmed that they've “entered into a definitive agreement whereby LVMH will acquire Tiffany for $135 per share in cash," valuing Tiffany at €14.7bn/$16.2n.
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.
After a bumpy few years, luxury brands are re-committing to China's market as a weaker yuan and the US trade war funnel more Chinese high-end spending back home, Tiffany & Co CEO Alessandro Bogliolo said in an interview.
Tiffany & Co’s quarterly results topped Wall Street estimates on Tuesday on strong demand for its jewelry in the Americas and China, prompting the luxury retailer to raise its full-year profit forecast.
No fashion house is as indelibly linked to a Hollywood legend as Givenchy is to Audrey Hepburn, the leitmotif of a refined collection presented Sunday night in Paris by the marque’s creative director Clare Waight Keller.