The largest deal in luxury is back on after New York’s famed jeweller Tiffany agreed to a slightly reduced offering price from LVMH in Paris. LVMH will now pay $US131.50 for each Tiffany share, putting the total price tag at $US15.8 billion ($22.5 billion), down from the $16.2 billion that was first offered earlier this … Read more
Tiffany & Co. announced Tuesday it will share the full background of its newly sourced diamond rings, an industry first as it looks to attract customers who care about quality as well as social and environmental responsibility. KEY FACTS As demand for lab-grown diamonds is on the rise, it is likely Tiffany and other jewelers want to assuage conflict … Read more
Tiffany & Co said its jewelry business is rebounding in China after the coronavirus pandemic and its merger with French luxury retailer LVMH is clearing regulatory hurdles. The U.S. jewelry maker said Tuesday in an earnings release that its same-store sales were down about 44% in the fiscal first quarter as the pandemic shuttered shopping … Read more
A growing number of US retailers, including Tiffany & Co., are temporarily shuttering all locations across North America in an effort to stem the coronavirus spread. “Effective immediately, we’re temporarily closing all Tiffany stores in the US and Canada, as well as many other locations globally, to protect our teams, clients and communities,” the jeweler … Read more
Tiffany & Co. has opened a one-month holiday pop-up shop in New York featuring its men’s collection. The store, which will be open from December 6 to January 6, will carry items from the jeweler’s Tiffany Men’s collection, including accessories, barware, home objects and games, the company said last week. The retailer will also offer … Read more
LVMH Moët Hennessy Louis Vuitton is set to acquire Tiffany & Co. for $16.2 billion, strengthening the Paris-based luxury group’s position in the global jewelry market and increasing its US presence. “Tiffany is a company with an unparalleled heritage and unique position in the global jewelry world,” LVMH CEO Bernard Arnault said Monday. The deal … Read more
Anglo American unit De Beers said its 2019 marketing budget will exceed last year’s figure of $170 million and will focus on the biggest market the United States, where women lavishing diamonds on themselves has boosted sales. While U.S. demand has held firm, the diamond market has weakened elsewhere and trade tensions and protests in … Read more
Sales performed below expectations for Tiffany & Co during the first quarter of 2019. For the three months ended April 30, worldwide net sales fell by 3% to $1bn compared to the previous year, and comparable sales declined by 5%. On a constant exchange rate basis, net sales were equal to the prior year and … Read more
