Iconic jewellery label Tiffany and Co. has officially joined the LVMH Moët Hennessy Louis Vuitton family after a bidding war that culminated in the luxury goods group acquiring the jeweller for a whopping $16.2 billion (£12.58 Billion).
According to WWD, LVMH latest move marks the group's biggest purchase to date. LVMH's acquisition of the 182-year-old luxury house 'will strengthen LVMH’s position in jewellery and further increase its presence in the United States,' the brand explained in a statement released this morning, November 25, adding that Tiffany will help to strengthen LVMH's jewellery division and other luxury brands. LVMH was bidding against Richemont, the Swedish luxury goods holding company behind Cartier, Van Cleef & Arpels, and Piaget, among others.
Tiffany and Co. was founded in 1837 and became famous for its robin's egg blue boxes. Audrey Hepburn also helped to put the luxury jeweller on the map, thanks to her Breakfast at Tiffany's character Holly Golightly who dined at the famed location in the movie.
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'We are delighted to have the opportunity to welcome Tiffany, a company with an unparalleled heritage and unique position in the global jewellery world, to the LVMH family,' LVMH CEO Bernaud Arnault added. 'We have an immense respect and admiration for Tiffany and intend to develop this jewel with the same dedication and commitment that we have applied to each and every one of our Maisons. We will be proud to have Tiffany sit alongside our iconic brands and look forward to ensuring that Tiffany continues to thrive for centuries to come.'
Tiffany and Co. joins LVMH houses Celine, Christian Dior, Emilio Pucci, Fendi, FENTY, Givenchy, Kenzo, as well as the company's jewellery division, which includes Bvlgari, Chaumet, Hublot and more.
Nerisha Penrose is the Beauty Commerce Editor at ELLE.com. Prior to joining the team, she was an Editorial Fellow at ELLE.com. In her current role, she helps lead coverage on makeup, skin care, hair, and fragrances. With over six years of experience in the world of beauty editorial, Nerisha enjoys delving deep into the complexities of fragrance notes, hunting for the best fixes for acne-prone skin, and advocating for daily sunscreen use. She regularly researches and tests the latest products, consults beauty professionals (including our Beauty Advisory Board) to determine the best expert-approved formulas to recommend, and conducts interviews with luminaries across the industry. Nerisha received her bachelor’s degree in Communication and Media Studies from Temple University before joining the editorial teams at Nylon and Billboard. In 2020, she co-launched our popular franchise The State of Black Beauty, an ongoing exploration of—and destination for—beauty at the intersection of Black culture.
