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LVMH to buy Tiffany for $16.2 bln

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LVMH to buy Tiffany for $16.2 bln

LVMH to buy Tiffany for $16.2 bln

LVMH has agreed a deal to buy U.S. jeweler Tiffany for $16.2 billion.

Julian Satterthwaite reports.

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LVMH to buy Tiffany for $16.2 bln

LVMH is splashing out at Tiffany.

The Louis Vuitton owner has agreed a deal to buy the U.S. jeweler.

It will pay 16.2 billion dollars to add the firm to its stable of brands.

That makes it LVMH's biggest ever acquisition.

Jewelry and watches is currently one of the smallest divisions at the luxury colossus.

That's something it wants to change, with analysts saying jewelry is one of the fastest growing bits of the luxury sector.

Founded in New York in 1837, Tiffany is certainly a historic name.

Not many stores get name checked in an Audrey Hepburn movie title.

But in recent years it's struggled to attract millenial shoppers.

It's also seen Chinese consumers retreat from overseas stores to spend more at home.

Now the pair hope joining forces will help LVMH in the U.S., and Tiffany in Asia.

They hope to close the deal in mid-2020.

LVMH shares opened around 1.8 percent higher on Monday (November 25) morning.




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Tweets about this

BLOnCampus

BLOnCampus In the recently announced biggest ever luxury sector deal, who bought Tiffany for $16.2 billion? - LVMH - Gucci -… https://t.co/HqP9SdJZeJ 4 hours ago

eleanorquiroz

eleanor quiroz RT @Fashionista_com: From the Tiffany side of things, the purchase could provide the investment needed to boost the brand's profile — which… 4 hours ago

ArgentStone

Argent Stone Capital Tiffany's invited Warren Buffett to bid for the company. He turned it down https://t.co/0CyErmMpZ4 11 hours ago

rpstranslations

Tony Rosado Tiffany’s invited Warren Buffett to bid for the company. He turned it down https://t.co/OeoUbpPCk5 13 hours ago

Fashionista_com

Fashionista.com From the Tiffany side of things, the purchase could provide the investment needed to boost the brand's profile — wh… https://t.co/TIsdmGDftS 14 hours ago

SlixkyG

$lixKo RT @HYPEBEAST: Leading to LVMH's victory. https://t.co/zdu3aKUTkU 17 hours ago

observer

OBSERVER Warren Buffett Said No to Tiffany & Co. Before LVMH Swept It Up: Report https://t.co/4d78X25vgR https://t.co/r4hrmEU9kS 20 hours ago

RealJerseyLane

Bhris Partlow LVMH purchased Tiffany & Co. after Berkshire (worth $125BB) decline to buy. Huge asset for LVMH @CNBC 23 hours ago


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