LVMH Buys Tiffany & Co. For $16.2 Billion.

The transaction tops records as the sector’s largest takeover and allows LVMH to broadens consumer base with more affordable price points as well as a stronger position in U.S.

“We are delighted to have the opportunity to welcome Tiffany & Co. to the LVMH family. We have 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”, said LVMH Chairman and Chief Executive Officer Bernard Arnault, Europe’s wealthiest person.

 

Tiffany & Co. which is considered one of the few true American luxury labels, has been the subject of takeover talk for years.

 

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