French luxury group LVMH has persuaded U.S. jewelry chain Tiffany & Co to provide it with confidential due diligence after it raised its bid to close to $16 billion, people familiar with the matter said on Wednesday.
Tiffany & Co has asked Bulgari owner LVMH to raise its $14.5 billion acquisition offer, arguing that it significantly undervalues the U.S. jewelry chain, people familiar with the matter said on Wednesday.
Romain Millet, who has led Beaumanoir Group’s China operations since 2016, has left the Brittany-based business for a new role as North Asia president of LVMH’s watches division and has been replaced by Jérôme Cambounet.
LVMH unveiled a major new plan on the environment Wednesday, guided by Antoine Arnault. Here, FashionNetwork.com discusses with Antoine all things LVMH, handling multiple jobs and his views on Greta Thunberg.
Watches of Switzerland is considering an initial public offering in London, stating that it is well placed to capitalise on “significant growth opportunities” in the UK and US after seeing revenues rise by 22.5% in FY19.