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.
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LVMH's watch brands are in Dubai to present the first new releases of the year. We take a closer look.
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.
Guest of honour at Dubai Watch Week, the non-executive president of LVMH's Watch division made a passionate appeal in support of Swiss watchmaking, an industry that "doesn't exist". Prior to this, Hublot had unveiled a special edition for the Emirates.
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.
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.