Tiffany & Co. to merge with leading luxury group LVMH

LVMH, the luxury conglomerate that owns brands such as Louis Vuitton, Chanel, and Fendi, has reached an agreement with Tiffany & Co., the leading jewellery brand, to buy them out and have them join the illustrious list of brands associated with the conglomerate. Stakeholders voted unanimously to accept the $16.2 Billion price tag that came along with the merger. The transaction is set to officially close by mid-2020. Tiffany & Co. will be one of seven watch and jewellery brands under LVMH, joining the likes of Hublot and Bvlgari.