Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

LVMH buys Tiffany for €14bn


French luxury giant LVMH has reached an agreement to buy jewellery maker Tiffany & Co for €14.7bn (£12.6bn).

LVMH owns brands including Louis Vuitton, Dior, Celine, Loewe and Givenchy

In a statement, LVMH said the acquisition of Tiffany would “strengthen its position” in the jewellery and watch market. It said it also planned to increase its presence in the US market.

Alessandro Bogliolo, chief executive officer of Tiffany, said: “Tiffany has been focused on executing on our key strategic priorities to drive sustainable long-term growth. This transaction, which occurs at a time of internal transformation for our legendary brand, will provide further support, resources and momentum for those priorities as we evolve towards becoming ‘the next generation luxury jeweller’.”

Revenue at LVMH’s fashion and leather goods revenue jumped 22% in the nine months to 30 September 2019 year on year.

The French luxury group’s fashion revenue increased from €13bn in 2018 to €15.9bn (£11.3bn to £13.8bn), which it attributed to Louis Vuitton’s growth in all its businesses and in all regions.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.