LVMH Buys Tiffany & Co. in a $16.7 Billion USD Deal
Marking the largest acquisition ever in the luxury sector.
Luxury conglomerate LVMH has just purchased famous jewelry label Tiffany & Co. in the largest-ever acquisition in the luxury sector. The label famous for its iconic “Tiffany Blue” branding as well as jewelry and accessories, was bought for $16.7 billion USD, and will join the impressive lineup of brands like Louis Vuitton, Dior, Fendi and more.
“We are delighted to have the opportunity to welcome Tiffany to the LVMH family,” said CEO Bernard Arnault following the acquisition, during LVMH’s announcement across its social media platforms. Alexandre Arnault also took to Instagram to share a picture from the iconic Audrey Hepburn film Breakfast At Tiffany’s, accompanied by the caption “Proud and Excited.”
Take a look at the announcements below, and stay tuned as any more information regarding the purchase surfaces.