During its annual general meeting, the French luxury giant highlighted its "remarkable resilience" during the pandemic and claimed to be well-positioned for strong growth in 2021, thanks particularly to Tiffany & Co..
Rimowa has appointed Hugues Bonnet-Masimbert as its new CEO, effective immediately. He succeeds Alexandre Arnault, who has become executive VP for product and communications at American jeweler Tiffany & Co.
LVMH countersued Tiffany & Co on Monday, arguing the U.S. jeweler's financial mismanagement in the pandemic permits the French luxury goods giant to walk away from its proposed $16 billion acquisition of the company.
A war of words between LVMH and Tiffany escalated on Tuesday with the French group describing Tiffany’s prospects as “dismal” and the U.S. jeweller accusing LVMH of improperly trying to renegotiate a takeover deal.
A Delaware Chancery Court justice on Monday agreed to fast-track Tiffany & Co's lawsuit against French luxury goods conglomerate LVMH for trying to back out of its $16 billion deal to acquire the U.S. jeweler.
France's LVMH faces an uphill battle in walking away from its $16 billion deal to buy U.S. jeweler Tiffany & Co, with legal experts noting most mergers which end up in court are renegotiated rather than dissolved.