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After weeks of rumors, LVMH has officially announced its intention to buy iconic American jeweler Tiffany & Co. for a whopping $16.2 billion, Adweek confirmed. The all-cash deal is set to be one of the largest luxury deals in history.
That valuation means LVMH will be paying $135 per share for Tiffany & Co., the 182-year-old jewelry brand famous for the light blue hue of its boxes and bags currently operates 321 stores worldwide, including its iconic New York City flagship, which was immortalized in the 1961 Audrey Hepburn film Breakfast at Tiffany’s.
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