Woah, LVMH Can Now Have Breakfast At Tiffany’s
Oooh la la, LVMH is about to have breakfast at Tiffany’s and probably for lunch and dinner too! On Monday, the luxury conglomerate Louis Vuitton Moet Hennessy released news that it had acquired the jeweller for a whopping $16.2 billion (RM 67.61 billion).
The news comes after Tiffany’s sales report was dropping globally and in China – in which the brand is trying to break out as a major luxury player in the jewelry market. But now, Tiffany will be having fresh, new Millennial shoppers as LVMH has a wide range of products at varying price points.
According to Alessandro Bogliolo, Chief Executive Officer of Tiffany, the deal with LVMH will give the “support, resources and momentum” to help the brand “evolve towards becoming The Next Generation Luxury Jeweler.”