Tiffany & Co to be purchased by LVMH
Louis Vuitton Moet Hennessy (LVMH) is in the process of acquiring Tiffany & Co. for $16.2 Billion. LVMH has a long standing and rich history in the Luxury market, and with the purchase of the Belmond brand, formerly Orient Express Hotels for $2.6 Billion last year Tiffany & Co. will just expand their position. Currently LVMH now operates in 24 countries with a portfolio of 46 hotel, rail and river cruises. It will be interesting to see when and if Tiffany & Co. will be woven into any of their current or future holdings. CFO Jean-Jacques Guiony stated that "The future of luxury will be not only in luxury goods as it's been for many, many years but also in luxury experiences, and they want to be in both segments, which is as simple as that."