Paris (AFP)
The world luxury giant LVMH announced Monday it has engaged in "preliminary discussions" with the American jeweler Tiffany for a possible buyout.
"Following recent market rumors, the LVMH group confirms that it has begun preliminary discussions about a possible operation with Tiffany," he said in a statement, while stating that at this stage, he There was "no certainty" that these discussions resulted in an agreement.
The owner of Louis Vuitton, Dior and Champagnes Veuve Clicquot and Moet & Chandon, made an offer earlier this month to the jeweler, told AFP in the night from Saturday to Sunday a source familiar with the matter. This source said that LVMH, owned by French billionaire Bernard Arnault, had put on the table a first proposal of $ 14.5 billion.
Tiffany, whose flagship store adjoins the Trump Tower on 5th Avenue in New York, has not yet officially responded to this proposal, which comes as the luxury industry fears the consequences of trade tensions between the United States and China on the purchasing power of the Chinese.
Tiffany's market capitalization, known for her engagement and wedding rings, was close to $ 11.90 billion at the Wall Street closing on Friday.
Tiffany recorded a 6.5% increase to 6.5% in sales in its last fiscal year.
A takeover of Tiffany by LVMH would be one of the largest acquisitions of the French group, present in various sectors of activity, ranging from fashion to wines and spirits through perfumes, cosmetics and selective distribution (Sephora).
© 2019 AFP