The French luxury group LVMH, controlled by billionaire Bernard Arnault, has acquired Tiffany & Co. for $16.2 billion, making it the biggest luxury brand acquisition ever and adding to the firm’s portfolio. The luxury conglomerate counting brands like Louis Vuitton, Christian Dior, Bvlgari, TAG Heuer in its stable, gave industry analysts much to talk about when it made a realistic acquisition bid for Tiffany & CoTiffany (TIF).
LVMH will acquire Tiffany for $135 per share in cash, for a total of $16.2 billion—almost $2 billion higher than the initial bid that LVMH made for the luxury jeweler in October. Tiffany will sit among LVMH’s 79 brands, in its watches and jewelry division.
Arnault said “We have an immense respect and admiration for Tiffany and intend to develop this jewel with the same dedication and commitment that we have applied to each and every one of our Maisons.”
