Luxury deal: Louis Vuitton will buy 182-year-old Tiffany for $ 16.2 billion

Paris, Ta. November 25, 2019, Monday

French company Louis Vuitton (LVMH) has acquired Tiffany & Co, a US-based luxury jewelry maker. For this, French company LHMV will pay a total of $ 16.2 billion.

This is one of the biggest deals in the luxury brand market with the sale of a leading company. Tiffany is an American company making expensive jewelry in gold-diamond-pearls. While LMVH is headquartered in Paris, the world's fashion capital.

Tiffany has been selling expensive jewelry in the US and other countries for 182 years. This company was founded in 1837. Apart from jewelery, personal accessories are also made by the company.

Louis Vuitton is just a 32 year old company. But its trade area is growing. So the American brand is buying at a price higher than 16 billion. The deal will be completed in mid-2020.

Tiffany's stores are located in the most expensive areas of New York's Manhattan, Tokyo, Japan's Ginza, London, and more. There are currently a total of 300 stores in Tiffany's.

Louis Vuitton has strengthened its position in the luxury goods market by purchasing many of the country's largest luxury brand companies. Louis Vuitton has a total of 75 subbrands sold worldwide.

Witton chairman Bernard Arnold is the richest man in Europe and the third richest person in the world. Currently, their wealth is worth $ 106.6 billion.