(Photo Credit: Shutterstock)
Tiffany and Co. joins LVMH family
The Louis Vuitton Moet Hennessy luxury goods company just added another member to their family of luxury goods, jewelry giant Tiffany & Co. After fighting a long bidding war between several companies LVMH walked away with the new acquisition for a cool $16.2 billion deal.
On the lmvh Instagram page, they posted the iconic Tiffany & Co. logo with the signature Pantone Tiffany blue frame with a quote from LVMH CEO Bernard Arnault, “We are delighted to have the opportunity to welcome Tiffany to the LVMH family.” LVMH wanted to acquire the infamous jewelry brand to strengthen its presence in the United States and its position in the jewelry industry.
This new acquisition is also set to invigorate LVMH’s jewelry division along with affiliated luxury brands. LVMH took on the Swedish luxury goods holding company, Richemont, that owns Piaget, Van Cleef & Arpels, Cartier, and more. Arnault says that LVMH will continue to carry on the ideal Tiffany’s is known for and is working to have Tiffany’s continue to thrive for centuries to come.
The new deal is also set to meet the resurging global diamond demand and help with overseas sales. LVMH’s plan consists of three goals to improve the retail network, increase the brand’s value, and expanding product offerings. For now, LVMH hasn’t disclosed its plans to close any current store locations, as LVHM is known for shutting down stores that don’t perform well in the dedication to finding top retail locations in major markets.
-
Credit: Shutterstock For many consumers, fully embracing digital banking remains a significant hurdle. Even as the digital landscape matures,... -
Credit: Shutterstock A surprise economic plot twist may be brewing as America heads into the new year: millions of...
-
Credit: Shutterstock In a year when many Americans are clipping coupons, stretching paychecks, and comparison-shopping more than ever, one...
-
Credit: Shutterstock The conversation around potential $2,000 “tariff dividend” checks reached a new peak this week after President Donald...
-
Credit: Shutterstock When President Donald Trump unexpectedly announced plans for what he called a “$2,000 dividend” for the majority...
-
Credit: Shutterstock The countdown is on for one of the most closely watched shareholder votes in corporate history. As...
-
Credit: Shutterstock Imagine not having to hunt for groceries after a long day or remember when your phone bill...
-
Credit: Shutterstock Good News for Taxpayers Good news might be on the horizon for taxpayers — especially those with...
-
Credit: Shutterstock The end of quantitative tightening may not be the market boost it appears to be Federal Reserve...
-
Credit: Shutterstock Trade deficits, national debt, and the numbers that don’t add up President Donald Trump recently caused a...
-
Credit: Envato Elements Untouched Money in the Trillions? There’s a quiet giant sitting in the background of the economy...
-
Credit: Shutterstock Trump and Wall Street’s Top Banker Bury the Hatchet—And Your Wallet Might Thank Them In an unexpected...
