LVMH Completes Tiffany Acquisition
The world's leading luxury goods producer LVMH said on Thursday it had closed the deal to buy jewelry maker Tiffany and announced several leadership appointments
MOSCOW (Pakistan Point News / Sputnik - 07th January, 2021) The world's leading luxury goods producer LVMH said on Thursday it had closed the deal to buy jewelry maker Tiffany and announced several leadership appointments.
"I am pleased to welcome Tiffany and all their talented employees in our Group.
Tiffany is an iconic brand and a quintessential emblem of the global jewelry sector," LVMH's CEO Bernard Arnault said.
Bernard Arnault has named his 28-year-old son Alexandre as Tiffany's executive vice president. Anthony Ledru will lead the American jewelry brand after serving as Louis Vuitton's executive vice president for four years.
Tiffany's outgoing CEO Alessandro Bogliolo will stay with the company to facilitate the transition through January 22, after which time he will depart the company, LVMH added in a statement.