Wall Street thinks Tiffany & Co will be fine without LVMH
LVMH has pulled out of a Tiffany takeover and embarked on a counter-suit but it looks like Wall Street seems to think the U.S. jeweller will do just fine by itself.
The post Wall Street thinks Tiffany & Co will be fine without LVMH appeared first on LUXUO.
When new broke that LVMH was looking to buy Tiffany & Co, the transaction worth more than $16 billion, was expected to be the largest ever in the luxury sector. However, on 8 September, a mere 9 months after LVMH?s owner and chief executive, Bernard Arnault, said that Tiffany would ?thrive for centuries to come? as part of his portfolio of premium brands the agreement is not only in tatters but also headed for an acrimonious battle as Tiffany launched a lawsuit to force completion of the sale and the French luxury conglomerate struck back a day later with its own counter suit accusing the American jeweller of slander, misdirection and mismanagement, in relation to the coronavirus pandemic. At first, it looked like Tiffany & Co, a jewellery retailer operating a total of 326 stores around the world, 94 of them in the United States alone, looked set to be harder hit by the break-down of the acquisition deal due to the recent retail carnage resulting from the covid pandemic. However, as its recent share price continues to rise following the break down of talks between two luxury iconoclasts, it looks like Wall Street has voted on the side of the American jeweller.
Would Tiffany & Co be fine without LVMH&quo...
The post Wall Street thinks Tiffany & Co will be fine without LVMH appeared first on LUXUO.
When new broke that LVMH was looking to buy Tiffany & Co, the transaction worth more than $16 billion, was expected to be the largest ever in the luxury sector. However, on 8 September, a mere 9 months after LVMH?s owner and chief executive, Bernard Arnault, said that Tiffany would ?thrive for centuries to come? as part of his portfolio of premium brands the agreement is not only in tatters but also headed for an acrimonious battle as Tiffany launched a lawsuit to force completion of the sale and the French luxury conglomerate struck back a day later with its own counter suit accusing the American jeweller of slander, misdirection and mismanagement, in relation to the coronavirus pandemic. At first, it looked like Tiffany & Co, a jewellery retailer operating a total of 326 stores around the world, 94 of them in the United States alone, looked set to be harder hit by the break-down of the acquisition deal due to the recent retail carnage resulting from the covid pandemic. However, as its recent share price continues to rise following the break down of talks between two luxury iconoclasts, it looks like Wall Street has voted on the side of the American jeweller.
Would Tiffany & Co be fine without LVMH&quo...
-------------------------------- |
|
French Food Friday - Chocolate Tart From François Perret at the Ritz Paris
04-05-2024 04:55 - (
fashion )
Verdy and Swatch Is an Artistic Collaboration Made in Watchmaking Heaven
04-05-2024 04:06 - (
luxury )