Louis Vuitton parent company LVMH announces acquisition of Tiffany & Co.

Both Tiffany & Co. and LVMH's Louis Vuitton operate retail locations at Market Street in The Woodlands. Courtesy Market Street
Both Tiffany & Co. and LVMH's Louis Vuitton operate retail locations at Market Street in The Woodlands. Courtesy Market Street

Both Tiffany & Co. and LVMH's Louis Vuitton operate retail locations at Market Street in The Woodlands. Courtesy Market Street

Paris-based LVMH Moët Hennessy Louis Vuitton SE announced Nov. 25 it had entered into an agreement to acquire the New York-based jewelry brand Tiffany & Co. The acquisition is valued at approximately $16.2 billion, the companies said in a statement, and was announced around one month after LVMH first confirmed it was examining the possibility of a transaction with Tiffany.

“Tiffany has been focused on executing on our key strategic priorities to drive sustainable long-term growth. This transaction, which occurs at a time of internal transformation for our legendary brand, will provide further support, resources and momentum for those priorities as we evolve towards becoming The Next Generation Luxury Jeweler," said Alessandro Bogliolo, Tiffany chief executive officer, in a statement. "As part of the LVMH group, Tiffany will reach new heights, capitalizing on its remarkable internal expertise, unparalleled craftsmanship and strong cultural values."

Tiffany was established in the 1830s and now operates more than 300 stores worldwide including a Market Street location at 9595 Six Pines Drive in The Woodlands. LVMH controls dozens of brands in markets such as wine, spirits, fashion and leather goods, and recently opened a new Louis Vuitton storefront at Market Street in Ste. 605. LVMH said the Tiffany acquisition would increase its U.S. presence and expand its watches and jewelry division.

"We are delighted to have the opportunity to welcome Tiffany, a company with an unparalleled heritage and unique position in the global jewelry world, to the LVMH family," LCMH Chairman and CEO Bernard Arnault said in a statement. "We will be proud to have Tiffany sit alongside our iconic brands and look forward to ensuring that Tiffany continues to thrive for centuries to come.”

Tiffany and Louis Vuitton also operate stores in the Galleria, and both brands have additional Texas locations in the Austin, Dallas-Fort Worth and San Antonio areas. 281-292-4360. www.tiffany.com. 281-203-6099. www.us.louisvuitton.com


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