|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||105.98 - 106.92|
|52-week range||94.77 - 124.28|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
French luxury goods group LVMH plans to overhaul Tiffany & Co's vast merchandise lineup to increase the focus on gold and precious gems and take its silver bangles upmarket after closing the $15.8 billion takeover of the U.S. jeweller this month. Six sources, including two people with inside knowledge of Tiffany's operations, told Reuters the owner of Louis Vuitton would also likely revamp the appearance of the jeweller's stores and boost its presence in Europe and Asia. More than a third of Tiffany's 320 shops are in the United States and two sources described some of them as out-of-date, shoddy and in need of refurbishing.
The long-running saga of Tiffany's (NYSE: TIF) acquisition by LVMH Moet Hennessy-Louis Vuitton (OTC: LVMUY) is finally over as the luxury design house announced today it has finally completed the deal for the high-end jeweler. Anthony Ledru, a Louis Vuitton senior executive, is CEO at Tiffany, effective today. Michael Burke, current CEO and chairman at LYMH, will become chairman of Tiffany.
Luxury goods giant LVMH has completed a purchase of Tiffany & Co, and announced new appointments at the US jeweller. Bernard Arnault, chairman of LVMH, today said Tiffany, which is known for its engagement rings, is an “iconic brand”. Arnault added: “We are optimistic about Tiffany’s ability to accelerate its growth, innovate and remain at the forefront of our discerning customers’ most cherished life achievements and memories.”