This archive report was first published on 25 November 2019.
On November 25, 2019, LVMH Moët Hennessy Louis Vuitton, the world's largest luxury goods company, announced its plan to acquire Tiffany & Company for $16.2 billion, the biggest deal in the luxury sector.
The acquisition aims to add a prominent American name to LVMH's stable of brands, which includes Dior, Givenchy, Fendi, Dom Pérignon, and Bulgari, and help propel it into the hard luxury sector of watches and jewelry.
According to Bernard Arnault, LVMH's chairman and chief executive, 'We are delighted to have the opportunity to welcome Tiffany, a company with an unparalleled heritage and unique position in the global jewelry world, to the LVMH family.'
The deal is expected to give both LVMH and Tiffany the firepower to grow in China, where they will look to bring more of their goods to mainland consumers and tap into their spending power.
