Louis Vuitton Group Tiffany Acquisition Plan Revised June 5, 7:24
The French LVMH group, which owns luxury brand Louis Vuitton, announced on April 4 that it is considering revising its plan to acquire American jewelry brand Tiffany. It is said that it is the result of examining the impact of the spread of the new coronavirus infection on Tiffany's business, and the future of the acquisition plan is unclear.
Based in Paris, LVMH is a giant conglomerate of 75 brands, including Louis Vuitton, and last November it sold Tiffany, a well-established American jewelry brand, totaling $16.2 billion, about 1 yen in Japanese yen. We have agreed to acquire the trillion 760 billion yen.
Regarding this acquisition plan, LVMH is reviewing the plan on the 4th, considering that the spread of the new coronavirus infection on Tiffany's business is examined and there is no plan to purchase Tiffany's shares at this time. I made it clear.
Western media have given their view that LVMH is seeking to lower acquisition prices. Management of the luxury brand industry is deteriorating due to the spread of infection.
LVMH was expected to gain a valuable foothold in the US market with the acquisition of Tiffany, but the future of the acquisition plan is uncertain.