Thursday, May 26, 2022
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • Executive Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • Executive Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

Louis Vuitton buys Tiffany

in News
- louis vuitton buys tiffany
Share on FacebookShare on Twitter

French Luxury giant Louis Vuitton buys Tiffany for $16bn.

Luxury group LVMH acquires Tiffany for $16.3 billion USD, marking the largest ever takeover for global luxury goods brand.

According to USA Today, the new deal values each Tiffany share at $135 in cash and is higher than the initial offer of $120 a share – which valued the business at $14.5bn. Tiffany is trying to transform its brand to appeal to younger and more digital shoppers and could use an owner with deep pockets to help expand its business. When the deal was announced, shares in Tiffany rose almost 6% in premarket trading in New York, while LVMH was up 2% in Paris.

Tiffany, known for its delicate jewelry, distinctive blue boxes, and being feature in the 1961 Audrey Hepburn film Breakfast at Tiffany’s, says the deal will ensure its long-term sustainability after being harshly hit by lower spending by tourists and a strong US dollar. Founded in 1837, it employs more than 14,000 people and operates about 300 stores – 12 of them in the UK.

“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 [brand houses],”, said LVMH’s billionaire owner Bernard Arnault, according to BBC, “We will be proud to have Tiffany sit alongside our iconic brands and look forward to ensuring that Tiffany continues to thrive for centuries to come.”

LVMH has 75 brands, 156,000 employees and a network of more than 4,590 stores. Its other brands include Kenzo, Tag Heuer, Dom Pérignon, Moet & Chandon, and Christian Dior.

Tiffany chairman Roger Farah said the board had concluded this deal “provides an exciting path forward with a group that appreciates and will invest in Tiffany’s unique assets and strong human capital”.

Tags: Bernard ArnaultCEOCEO NorthamLouis VuittonLuxury brandsLVMHTiffany

Related Posts

Google’s new street view camera will reach remote spots
News

Google’s New Street View Camera Will Reach Remote Spots

Snap’s warning tumble social media stocks
News

Snap’s Warning Tumble Social Media Stocks

Pfizer offers low-cost drugs to poor nations
News

Pfizer Offers Low-Cost Drugs to Poor Nations

Airbnb to exit china as lockdowns restrict tourism
News

Airbnb to Exit China as Lockdowns Restrict Tourism

Fed raises rates by half a percentage point, biggest hike in 22 years
News

Jerome Powell Sworn in as Federal Reserve Chair

Volkswagen aims to pass tesla as largest ev seller
News

Volkswagen Aims to Pass Tesla as Largest EV Seller

Starbucks will exit russia after 15 years
News

Starbucks Will Exit Russia after 15 Years

Biden launches indo-pacific economic framework
News

Biden Launches Indo-Pacific Economic Framework

Hyundai will invest $10bn in the u. S. By 2025
News

Hyundai Will Invest $10bn in the U.S. by 2025

Russia halts gas supplies to finland
News

Russia Halts Gas Supplies to Finland

No Result
View All Result

Recent Posts

  • Why Mobility Matters When it Comes to Social Inclusion
  • What is the Future of Work? | World Economic Forum
  • Google’s New Street View Camera Will Reach Remote Spots
  • Snap’s Warning Tumble Social Media Stocks
  • Pfizer Offers Low-Cost Drugs to Poor Nations

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Executive Interviews
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    CEO Latin America | ES

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

     

    AUSTIN

    600, Congress Avenue 14th Floor
    Austin, TX.
    78701
    USA
    +1 512 649 0340

    NEW YORK

    387 Park Ave South,
    New York, NY.
    10016
    USA
    +1 212 796 64 15

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • Executive Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?