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LVMH in talks to buy Tiffany

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LVMH has confirmed rumours that it is in preliminary talks to buy America’s iconic jeweller Tiffany & Co.

A statement from LVMH came after business media reported that the French luxury group had tabled a $14.5 billion (£11.3bn) offer to buy the company.

“The LVMH Group confirms that it has held preliminary discussions regarding a possible transaction with Tiffany,” a brief statement says.

Tiffany & Co. notched sales of $4.4 billion in 2018.

It says 92% of its turnover from the world-wide sale of jewellery. The remaining 8% is made up from timepieces, home and accessories, and fragrances.

The group has more than 300 stores around the world, which could provide a route to market for other LVMH brands including TAG Heuer, Hublot, Zenith and even Bulgari.

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