The French group, whose president Paolo de Cesare departed in early 2020, has appointed as his successor Jean-Marc Bellaiche, a former director at Tiffany and Contentsquare, who will start in his new role on October 1.
French luxury goods giant LVMH and U.S. jewellery chain Tiffany will give themselves another three months to complete their $16.2 billion (12.41 billion pounds) tie-up after the deal did not close on the Aug.
The NYC-based jewellery brand has released exterior renderings of the renovations taking place at its emblematic Fifth Avenue flagship, revealing the addition of a glass exhibition and event space to its upper floors.
French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday.
With rumors mounting that Bernard Arnault may be attempting to renegotiate a lower deal price for LVMH’s acquisition of Tiffany, the luxury group said Thursday it will not buy any shares in the jeweler on the market.
LVMH's $16.2 billion takeover of Tiffany & Co is looking less certain as the jeweler grapples with a deteriorating situation in the U.S. market brought on by a global pandemic and severe social unrest.
Tiffany & Co said on Wednesday Australian regulators have sought more time to review LVMH's multi-billion dollar purchase of the U.S. jeweler due to the coronavirus outbreak, potentially delaying closure of the deal.
Luxury jeweler Tiffany & Co forecast a significant results hit this year as it temporarily shut stores and said Friday it had lost about half of its operating days in mainland China since the coronavirus outbreak.
French luxury goods maker LVMH, which last year agreed to buy Tiffany & Co for $16.2 billion, is considering buying shares of the U.S. jeweler for less on the open market, Bloomberg News reported on Thursday.