LVMH bids US$14.5bn to take over Tiffany & Co

Luxury goods giant LVMH, owner of Krug and Dom Pérignon, has reportedly offered American jeweller Tiffany & Co US$14.5 billion to take over the company.

LVMH has approached American jeweller Tiffany & Co with a US$14.5 billion takeover bid

As reported by the Financial Times, if the deal with the diamond specialist went ahead, it would be the largest acquisition in LVMH’s history.

The acquisition would increase the French luxury giant’s exposure in the US – the group’s second largest market by sales behind Asia.

Tiffany would join the likes of Dior, Bulgari, Fendi, Celine, Givenchy and Marc Jacobs in LVMH’s enviable portfolio of luxury fashion and drinks brands.

However, the FT reports that the deal may already have been scuppered due to it being announced by Bloomberg and picked up widely in the global press.

The deal would give LVMH more influence within the luxury jewellery sphere, following on from its 2011 acquisition of Italian jeweller Bulgari.

Tiffany & Co’s current CEO, Alessandro Bogliolo, spent 16 years at Bulgari, working his way up to become chief operating officer for the jeweller.

Tiffany has suffered of late from the perfect storm of reduced tourist spending, a strong US dollar and the ongoing trade war between America and China.

Founded by Charles Lewis Tiffany in 1837, Tiffany & Co is known for its pale blue boxes tied with a white ribbon, and flagship store on Manhattan’s Fifth Avenue, made famous by Truman Capote’s 1958 novella Breakfast at Tiffany’s, which was turned into a film in 1961 starring Audrey Hepburn.

According to the FT, the jeweller generated net sales of US$4.4bn last year and employs over 14,000 people around the world.

Led by the richest man in Europe, Bernard Arnault, LVMH boasts 75 luxury brands within its portfolio, over 4,590 stores and 156,000 employees.

One of the company’s most recent acquisitions is London-based hotel and travel group Belmond as it seeks to move towards experiential luxury.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

We encourage debate in the comments section and always welcome feedback, but if you spot something you don't think is right, we ask that you leave an accurate email address so we can get back to you if we need to.

Subscribe to our newsletters

Key Account Manager

MMI Maldives

Financial Controller

London City Bond
Barking, UK

Duty Manager

The Whisky Exchange
Great Portland Street, London

Spirits Advisor

The Whisky Exchange
London, UK

International Sales Manager

Elixir Distillers
Park Royal, London, UK

Brand Marketing Executive

Elixir Distillers
Park Royal, London, UK

Cellar Door Manager

House of Townend
Melton, North Ferriby, UK

Marketing Manager

The Whisky Exchange
Whitby Avenue, Park Royal, London NW10 7SF

Millésime Bio 2020

27th Jan 2020

Maisons Marques et Domaines Annual Tasting

London,United Kingdom
29th Jan 2020

Austrian Wine Tasting

London,United Kingdom
3rd Feb 2020
Click to view more