French luxury goods manufacturer LVMH Group announced on the 25th that the group and the United States jewelry brand Tiffany reached a final agreement to formally acquire Tiffany. According to the announcement, the LVMH Group acquired Tiffany for $135 a share in cash, with a stake value of about $16.2 billion. The acquisition will strengthen LVMH ‘s position in the jewelry industry and further expand its presence in the United States.
It is reported that this is the largest acquisition since the establishment of LVMH , but also the luxury industry’s largest acquisition.
LVMH Is the world’s largest luxury group, covering wine and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry and other fields, with more than 70 internationally renowned luxury brands.
Founded in 1837, Tiffany is a well-known U.S. watch and jewelry company.