Yesterday, November 25, 2019, LVMH announced the purchase of the US jewelry brand Tiffany for the sum of 14.7 billion euros, "the most important acquisition in the history of the group led by billionaire Bernard Arnault" we read from Fashion Network.
Negotiations were underway as early as mid-October, starting with a value of $ 120 per share and concluding by evaluating each of Tiffany's shares $ 135, for a total of $ 16.2 billion. "We have the ambition to make this emblematic brand shine with all the care and determination we have shown for all the companies that have joined us in our history," says Arnault. With this purchase, Tiffany will give the LVMH group, which counts 75 brands, a new dimension to the business of the Watch and Jewelery division.
Source: Fashion Network