LVMH to Acquire Tiffany & Co. for Approximately $16.2 Billion

LVMH Moët Hennessy Louis Vuitton SE, the world's largest luxury goods conglomerate, has agreed to acquire the American jeweler Tiffany & Co. The deal is valued at approximately €14.7 billion (or $16.2 billion) in equity value, according to an announcement made in late 2019.

The acquisition is expected to strengthen LVMH's position in the jewelry sector and increase its presence in the United States. Tiffany, founded in 1837, is a renowned American luxury brand, recognized for its diamond jewelry and the iconic "Tiffany Blue Box."

LVMH Chairman and CEO Bernard Arnault expressed satisfaction with the agreement, highlighting Tiffany's heritage and its unique standing in the global jewelry market. He indicated that LVMH intends to develop Tiffany with the same commitment shown to its other luxury houses.

Tiffany's Board of Directors has recommended that shareholders approve the transaction. The deal is anticipated to close by mid-2020, subject to customary closing conditions, including shareholder and regulatory approvals.