French luxury group LVMH has presented excellent results as Chinese and American consumers, in particular, are once again happy to treat themselves to handbags and champagne in the absence of other entertainment.
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A new, huge merger in the luxury sector was on the cards between French Kering and Swiss Richemont, but the latter is said to have rejected the offer.
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For the time being, there will be no new collection for Fenty, Rihanna's clothing line. Luxury house LVMH and the pop star have put the label on hold.
French luxury group LVMH has big plans for jewellery chain Tiffany, which it recently acquired for some 13 billion euros after a fierce takeover battle. The ambitions: more gold, more gemstones and generally a more upscale image.
Luxury giant LVMH has completed the acquisition of Tiffany & Co. With Bernard Arnault's son gaining power, the top management of the jewellery company is thoroughly shaken up.
Tiffany & Co and LVMH have reached an agreement after all: the takeover goes ahead, but for the reduced price of 131.50 dollar per share. That results in a discount of around 400 million dollar.
LVMH and Tiffany & Co are reportedly discussing a "discount" on the planned 16.2 billion euro acquisition. Tiffany wants LVMH to keep its purchase promise, but the French luxury house regrets the expensive deal.
LVMH may acquire Tiffany & Co, says the European competition watchdog. Remarkably the green light is not welcome at all this time, as the Vuitton mother looks for a way out of the deal.
LVMH sold more handbags and leather goods in the third quarter, although there was still a sharp decline in the duty-free and cosmetics segments. The luxury holding company sees "encouraging signs of recovery".
Kenzo Takada, the founder of fashion brand Kenzo, died from the coronavirus. The colourful designer of Japanese origin died in Paris at the age of 81.
Did French President Macron himself ask for the takeover deal between LVMH and Tiffany to be blown up? While the rumour mill is running, the legal battle is taking shape: in January, the fate of the fiancées will be settled.
Luxury group LVMH has decided to cancel its acquisition of American jeweller Tiffany's, saying it follows a request by the French government. A tough legal battle is expected to follow.
The acquisition of Tiffany & Co by French luxury group LVMH is delayed by three months, for reasons that are not disclosed. LVMH will have to wait for 24 November to put Tiffany's diamond ring around its finger.
Luxury is one of the worst hit sectors by the covid pandemic, as proven (again) by LVMH's half-year results. Turnover went down 27 %, net profit even 85 %.
It is looking increasingly unlikely that LVMH will pay the agreed sum of 16.2 billion dollars for American jeweller Tiffany & Co. The French luxury group wants to get out of the deal or arrive at a lower takeover fee.
The Covid-19 pandemic has cost French luxury group LVMH 15 % in revenue in its first quarter. Most shops and production facilities are closed, but owner Bernard Arnault remains positive. He has waived his salary to set an example.