The rumors are true as confirmed by LVMH and Antoine Arnault who posted on Instagram. Arnault’s latest post features Tiffany colored square with quote, “ Welcome!” which sounds like Tiffany is to become a member of LVMH.
LVMH has built up a large portfolio of luxury brands like Moët & Chandon, Dom Perignon, Givenchy and Louis Vuitton.
Founded in 1837 by Charles Lewis Tiffany and John B. Young in Brooklyn, Connecticut, as a "stationery and fancy goods emporium", the store initially sold a wide variety of stationery items, and operated as "Tiffany, Young and Ellis" as of 1838 at 259 Broadway in Lower Manhattan.
The transaction is suppose to finalize in the middle of 2020. According to CNBC LVMH said in a statement that “the acquisition of Tiffany will strengthen LVMH’s position in jewelry and further increase its presence in the United States.” It said it would also “transform LVMH’s Watches & Jewelry division and complement LVMH’s 75 distinguished Houses.”
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