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Funding round was led by private equity giant General Atlantic with participation from Aglaé Ventures, a technology-focused venture capital firm backed by Groupe Arnault, the controlling shareholder of LVMH.
Executives from 75 LVMH brands, home to Bulgari, TAG Heuer, Hublot and Zenith, joined CEO Bernard Arnault for a ceremony to sign the charter.
Sales for the Watches and Jewelry division almost quadrupled to €4 billion in comparison to last year.
Hublot has added Japanese artist Takashi Murakami to its roster of brand ambassadors, and he has already put his talent to work on a...
This year, away from the Arabian sun, LVMH has hosted the event virtually and Hublot, Zenith and Bulgari have all taken the opportunity to debut new watches and new styles.
LVMH Watch Week in Dubai was one of the great innovations of this year, but the kick-off event will take place online next January.
Ecommerce and media firm also unveils former Mr Porter managing director Toby Bateman as its new CEO. Ben Clymer moves to executive chairman role.
Rimowa is making its first move into lifestyle accessories like watch cases that adopt the aluminium signature design of its suitcases.
Original price of $16 billion has been reduced to $15.8 to get the deal over the line and avoid litigation next year.
LVMH says a succession of events undermine the acquisition, but Tiffany says the fundamental strength of its business is unchanged.