LVMH Buys Tiffany & Co. for $16.2 Billion

LVMH (Moët Hennessy-Louis Vuitton) purchased Tiffany & Co. for $16.2 billion which is the largest deal ever made in the luxury sector.

This acquisition cements LVMH’s status as one of the strongholds in luxury fashion as they had already acquired iconic fashion houses including Dior, Givenchy, and Fendi.

According to The New York Times, it is suspected that this purchase could influence other big deals between brands as it is predicted that conglomerates will take over the luxury world. 

Tiffany’s chief executive officer, Alessandro Bogliolo, said, according to WWD, “As part of the LVMH group, Tiffany will reach new heights, capitalizing on its remarkable internal expertise, unparalleled craftsmanship, and strong cultural values.”

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