This archive report was first published on 27 November 2019.
On November 27, 2019, luxury goods conglomerate LVMH announced its plans to acquire Tiffany & Co. in a deal valued at $16.2 billion, making it the biggest luxury brand acquisition ever.
The acquisition, which is expected to be completed in mid-2020, will see Tiffany join LVMH's portfolio of 79 brands, including Louis Vuitton, Moet & Chandon, and Christian Dior.
Earlier this year, LVMH had expressed interest in acquiring Tiffany at a cost of $120 per share, valuing the company at $14.5 billion. However, the offer was rejected as being too low.
"We have an immense respect and admiration for Tiffany and intend to develop this jewel with the same dedication and commitment that we have applied to each and every one of our Maisons," said Bernard Arnault, controller at LVMH.
LVMH, which has a network of over 4,590 stores, is a French multinational luxury goods conglomerate headquartered in Paris. Tiffany & Co., on the other hand, is an American luxury jewellery and specialty retailer headquartered in New York City.
