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.
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With protesters more determined than ever after four months of unrest, Hong Kong is struggling to maintain its status as a world capital of luxury. Economic recession in the special administrative region spells bad news for watch brands as shipments to this main export market have fallen by 6% since the start of the year.
Brands have wised up to the benefits to be gained from associating their name with art venues and exhibitions; creative contexts whose audiences are also potential customers.
Swatch Group is struggling to convince investors. Its share price has been virtually flat since January, after losing 42% over the last seven months of 2018. Richemont, in comparison, is making headway. Meanwhile, French luxury groups are flying high.
A struggling brand in 2015, in the past two years Gucci has seen exponential growth in the region of 40%. This extraordinary performance owes much to creative director Alessandro Michele, the man behind today's baroque, ethical and connected Gucci. Millennials love it.
The recent resignation of Jean-Claude Biver from the helm of LVMH's Watch division has prompted the appointment of Frédéric Arnault as strategy and digital director at TAG Heuer. He is the fourth of Bernard Arnault's children to take up a senior position within the group.