LVMH confirmed Monday that it would acquire the US jewelry chain Tiffany & Co. for about $16.2 billion. This is LVMH’s most expensive luxury acquisition ever; the luxury conglomerate said it agreed to $135 a share in cash for Tiffany.
LVMH’s portfolio consists of 75 brands including Christian Dior, Louis Vuitton, and Hennessy.
This new acquisition gives the Europe-headquartered LVMH greater exposure to the US market (44% of Tiffany’s sales are made in the US, Canada, and Latin America) and should help it to become a bigger player in fine jewelry, an area where analysts say it is lacking.
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