At a special meeting this February 4th, stockholders of Tiffany & Co will vote on the merger agreement with LVMH for $16.2 billion. With Bulgari and Tiffany under its belt, the French luxury giant is intent on dominating the global jewellery market.
Articles on the subject: Economy
An ongoing drop in volume exports, an inexplicable intervention by the competition watchdog, problems in Hong Kong, individual exhibition strategies... the face of the Swiss watch industry is changing in 2020.
The gap continues to widen between luxury watches and entry-level, resulting in a slight increase in total export value alongside a drastic decline in volume. Suppliers suffer as the sector becomes increasingly consolidated.
Concerns over trade in a post-Brexit Britain haven't prevented the UK market from performing well these past months, aided by sterling's weakness. As the country heads towards its latest deadline, watch brands are making sure they are prepared for every outcome, including a no-deal scenario.
At Dubai Watch Week, organiser Ahmed Seddiqi & Sons and US-based specialist WatchBox announced a joint venture to develop the certified pre-owned watch market in the region.
At $120 per share or €14.5 billion, LVMH's offer for Tiffany was judged too low. Now the battle is on between luxury mastodons, which includes Richemont and Kering, to take control of the storied American jeweller.