If successful, the deal would achieve several goals for Arnault: balance out a portfolio that currently favors fashion, beauty, and beverages; increase LVMH's weight in the US market
French luxury giant LVMH said on Monday it was in preliminary talks to take over US jewellers Tiffany but there was "no certainty" that they would be successful. A source close to the talks told AFP at the weekend that LVMH had made a USD 14.5 billion bid for Tiffany at the start of October, but that the iconic US company had yet to respond to the offer. Tiffany's stock market value stood at USD 11.9 billion at the close of Wall Street trading on Friday. "Following recent market rumours, the LVMH group confirms having started preliminary discussions about a possible operation with Tiffany," LVMH said in its statement Monday. The purchase of Tiffany by LVMH would be one of the largest acquisitions by the French group, which is a world leader in luxury, present in fashion to wine, perfumes and cosmetics. Tiffany's Bulgari brand -- bought for USD 5.2 billion in 2011 -- competes with Cartier and Van Cleef & Arpels, both owned by Swiss group Richemont. "They say diamonds are a girl's
The French luxury group has approached Tiffany with a takeover proposal, though there's no guarantee an agreement will be reached, said the people, who asked not to be identified
BENGALURU (Reuters) - India's Reliance Industries Ltd is partnering with iconic U.S.-based luxury jeweller Tiffany & Co to open a line of stores in the country, adding yet another marquee name to its growing portfolio of brands.
For Tiffany, Bogliolo said he expects Chinese travelers won't sit out forever
For generations of Hepburn fans, the outsized presence of the flagship store has allowed them to retrace her steps from the movie