Is LVMH Buying Tiffany & Co.?
October 27, 19
(IDEX Online) - Reports are rife that LVMH has approached Tiffany & Co about a possible takeover of the U.S. jeweler. According to Reuters, LVMH, which is the world's largest luxury group by sales, submitted a preliminary, non-binding offer to Tiffany earlier this month. Tiffany has reportedly not yet responded to the offer. The merger would give the French company a way to expand into the U.S. jewelry market. If the takeover went ahead, Tiffany would join LVMH's other luxury jewelry and watch brands, which include Chaumet, Bulgari and TAG Heur.