Tiffany goes to LVMH
On November 25th, LVMH concluded the acquisition of Tiffany for
16.2 billion dollars (about 14.7 billion euros). A transaction from $ 135 per share in cash that will strengthen LVMH's position in jewelry, especially increasing its footprint in the United States.
Tiffany will transform LVMH's Watches & Jewelry division and complete the 75 distinguished houses of the group: the watch and jewelry division of the French company also includes Bulgari, Tag Heuer, Zenith, Fred, Hublot, Chaumet.
For Lmvh this is the largest acquisition ever made, even higher than that of the remaining portion of Dior in 2017 and more than three times the amount paid to take over Bulgari in 2011 (4.3 billion euro).
From the Tiffany tops they affirm that this acquisition will be able to provide further support, resources and momentum in the transformation process towards "The next generation luxury jeweler", as Alessandro Bogliolo, CEO of the brand, reported.
The acquisition of Tiffany allows Bernard Arnault's company to gain ground, in the precious segment, compared to its competitor Richemont, which controls, among others, Cartier and Van Cleef & Arpels.