Lv's parent company acquired Tiffany for $65.438+05.8 billion. 65438 local time10.7, LVMH, the world's largest luxury goods company, announced the completion of the acquisition of Tiffany, an American jewelry brand. 20 19 10 year1in late October, LVMH and Tiffany reached an agreement to reduce the purchase price to $0.5 per share.

2019165438+10, LVMH announced the acquisition of Tiffany for162 billion, but the acquisition was terminated. LVMH acquired Tiffany for $654.38+058 billion. At the end of February 2020, Tiffany's shareholders approved the acquisition.

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LVMH sent three senior executives to settle in.

LVMH will send three executives to Tiffany, including Alexander Arnot, son of founder bernard arnault, and two LV brand executives.

It is understood that Alexander Arnot, 28, is one of the four successors of LVMH. Prior to this, he was in charge of Rimowa, a luggage brand, and cooperated with Supreme, a sportswear brand, to vigorously promote social media and attract younger customers. This time, he will be the executive vice president of Tiffany, responsible for product and communication affairs.

In addition, michael burke, chairman and CEO of LV, will also be the chairman of Tiffany, and Anthony Ledru, global business activities and brands of LV in the United States, will be the CEO of Tiffany. Both of them will be responsible for running Tiffany, and said they plan to carry out a comprehensive reform of their design team.