Business
Saving $560,000 for diamonds, LVMH’s $16b Tiffany takeover is back on – Sydney Morning Herald
The world’s largest deal in luxury is back on after New York’s famed jeweller Tiffany agreed to a slightly reduced offering price from LVMH in Paris.
We are as convinced as ever of the formidable potential of the Tiffany brand and believe that LVMH is the right home for Tiffany,” LVMH’s billionaire CEO Bernard Arnault said in a prepared statement on Thursday.
Tiffany, with its famed blue boxes, has in recent years attempted to regain the luster of the Breakfast at Tiffany’s era as its customer base ages. It’s shifted its focus to younger shoppers and made a significant push online. The deep pockets of LVMH could go a long way in helping that…
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