Iconic US jeweler Tiffany to be bought by French rival LVMH
01 December 2019 | 12:21 pm
French luxury giant LVMH pledged to buy US-based Tiffany in its biggest acquisition ever with a $16.2 billion price tag. LVMH owns top brands like Louis Vuitton, Christian Dior and Givenchy.
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Louis Vuitton presents a series of "connected bags", complete with flexible screens, at the Vivatech trade fair in Paris, which was attended by Bernard Arnault, the CEO of LV's luxury goods group LVMH.
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The LVMH-owned brand, which said few weeks that it was the new owner of the 1,758-carat Sewelo, displayed the glinting, blackened stone at its Place Vendome store in Paris.
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Climate activists burst onto the catwalk brandishing banners reading "Overconsumption = extinction" at Louis Vuitton's Paris Fashion Week show. Extinction Rebellion, Friends of the Earth and Youth For Climate said in a statement that around 30 people were involved in planning the protest, with two arrested. They called on the government to enforce "an immediate cut in production levels in the sector, given that 42 items of clothing were sold per person in France in 2019".
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