LVMH CEO Bernard Arnault is considering renegotiating Tiffany acquisition deal
Bernard Arnault, the CEO of the world's largest conglomerate might have lost as much money as Bezos has gained but he's continuing his aggressive expansion plans adding potential renegotiation of the Tiffany deal on the table
The post LVMH CEO Bernard Arnault is considering renegotiating Tiffany acquisition deal appeared first on LUXUO.
CEO Bernard Arnault is the world?s foremost trendsetter, overseeing a luxury empire of 70 brands including Louis Vuitton and Bvlgari. In November 2019, LVMH made the biggest luxury brand acquisition deal since their purchase of the Italian jewellery brand. buying American jeweller Tiffany & Co for $16.2 billion. But 2020 is not off to a good start, by March, major economies were closing due to a coronavirus pandemic and Arnault has lost more money than his billionaire peers as a result. That said, the CEO of the luxury goods giant isn?t content to cower and hide, Arnault is making aggressive moves to recover lost ground. Once the world’s 2nd-richest person, CPP-luxury reported that the coronavirus pandemic has cost Bernard Arnault more than $30 billion, in essence, losing as much money as Amazon Chairman Jeff Bezos has gained. Shares of in LVMH are down more than 17% year to date prompting the billionaire to explore ways to reopen negotiations on his $16.2 billion acquisition of US jewellery chain Tiffany & Co.
LVMH CEO Bernard Arnault is considering renegotiating Tiffany acquisition deal
Insiders speaking to Reuters on cond...
The post LVMH CEO Bernard Arnault is considering renegotiating Tiffany acquisition deal appeared first on LUXUO.
CEO Bernard Arnault is the world?s foremost trendsetter, overseeing a luxury empire of 70 brands including Louis Vuitton and Bvlgari. In November 2019, LVMH made the biggest luxury brand acquisition deal since their purchase of the Italian jewellery brand. buying American jeweller Tiffany & Co for $16.2 billion. But 2020 is not off to a good start, by March, major economies were closing due to a coronavirus pandemic and Arnault has lost more money than his billionaire peers as a result. That said, the CEO of the luxury goods giant isn?t content to cower and hide, Arnault is making aggressive moves to recover lost ground. Once the world’s 2nd-richest person, CPP-luxury reported that the coronavirus pandemic has cost Bernard Arnault more than $30 billion, in essence, losing as much money as Amazon Chairman Jeff Bezos has gained. Shares of in LVMH are down more than 17% year to date prompting the billionaire to explore ways to reopen negotiations on his $16.2 billion acquisition of US jewellery chain Tiffany & Co.
LVMH CEO Bernard Arnault is considering renegotiating Tiffany acquisition deal
Insiders speaking to Reuters on cond...
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