LVMH completes the acquisition of Tiffany & Co.
Paris and New York,
January 7th, 2021
LVMH Moët Hennessy Louis Vuitton SE, the world’s
leading luxury products group, announced today that it has
completed the acquisition of Tiffany & Co. (NYSE: TIF), the
global luxury jeweler. The acquisition of this iconic US jeweler
will deeply transform LVMH’s Watches & Jewelry division and
complement LVMH’s 75 distinguished Maisons.
Bernard Arnault, Chairman and Chief Executive
Officer of LVMH, commented: “I am pleased to welcome Tiffany and
all their talented employees in our Group. Tiffany is an iconic
brand and a quintessential emblem of the global jewelry sector. We
are committed to supporting Tiffany, a brand that is synonymous
with love and whose Blue Box is revered around the world, with the
same dedication and passion that we have applied to each of our
prestigious Maisons over the years. 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. I would like to thank Alessandro
Bogliolo and his team for their dedication to Tiffany and their
work over the past three years, especially during this challenging
period.”
Tiffany Executive
Leadership
In conjunction with the closing of the
transaction, LVMH has announced several leadership appointments at
Tiffany:
- Anthony Ledru, previously Executive Vice President, Global
Commercial Activities at Louis Vuitton and formerly Senior Vice
President of North America at Tiffany, becomes Chief Executive
Officer of Tiffany, effective immediately.
- Alexandre Arnault, previously Chief Executive Officer of
high-quality luggage company RIMOWA, becomes Executive Vice
President, Product and Communications of Tiffany, effective
immediately.
- Michael Burke, the Chairman and Chief Executive Officer of
Louis Vuitton, will become Chairman of Tiffany Board of
Directors.
Leadership Transitions
- Alessandro Bogliolo, the current Chief Executive Officer of
Tiffany, has agreed to remain with the company to facilitate the
transition through January 22, 2021, after which time he will
depart the company.
- Reed Krakoff, Chief Artistic Director, and Daniella Vitale,
Executive Vice President and Chief Brand Officer of Tiffany, will
depart Tiffany after a short transition of responsibilities
Anthony Ledru, Chief Executive Officer of
Tiffany, said: “I am delighted to re-join Tiffany, the most iconic
American luxury brand which I have long admired. The inclusiveness
and optimism upon which Tiffany was founded resonate now more than
ever. I also come back to a Maison that is at the forefront of the
environmental and sourcing standards in its industry. Going
forward, I have deep confidence in LVMH’s commitment to protect the
brand, drive its growth strategy and apply the highest standards of
retail excellence to Tiffany. The potential ahead is limitless, and
I look forward to writing this next deeply promising chapter, along
with the 14,000 Tiffany employees around the world.”
Alessandro Bogliolo, former Chief Executive
Officer of Tiffany, commented: “I am honored to have led Tiffany as
a public company and contributed with such a talented team to
further strengthening Tiffany’s iconic standing. Thanks to the hard
work and commitment of all our team members, Tiffany is ideally
positioned to continue its growth. I would also like to take this
moment to thank Reed and Daniella for having led the creative
vision, digital and marketing direction for the company. We can all
be proud of what we achieved together over the past three years
and, I am convinced that Tiffany will thrive under LVMH leadership.
I look forward to ensuring a smooth transition to Anthony and his
team and wish him and all the Tiffany community continued success
in the years to come.”
Leadership Biographies
- Anthony Ledru has more than 20 years of
experience in the luxury industry. He was the Executive Vice
President of Global Commercial Activities at Louis Vuitton since
2017, which he joined three years before as President & Chief
Executive Officer of Louis Vuitton Americas. Prior to that, he was
Senior Vice President of North America at Tiffany & Co. between
2013 and 2014 and served as Global Vice President of Sales for
Harry Winston International. He started his career in the luxury
sector working for Cartier between 1999 and 2011, first in Latin
America and then in the United States. where he was Vice President
of Retail for the company’s North American business. Anthony Ledru
holds a master’s degree from SKEMA Business School.
- Alexandre Arnault has led RIMOWA since January
2017, after initiating and leading its acquisition by LVMH. His
professional career began in the United States in strategic
consulting, at McKinsey & Company, then in private equity at
KKR in New York. He then joined LVMH and Groupe Arnault to focus on
digital innovation. In this capacity, Alexandre Arnault
participated in the definition and implementation of a strategy to
address the challenges of the development of e-commerce in the
high-quality products sector. Over the past four years, he has
successfully repositioned RIMOWA and elevated its brand image.
Alexandre Arnault graduated from École Telecom ParisTech and holds
a master's degree from École Polytechnique.
LVMH
LVMH Moët Hennessy Louis Vuitton is represented
in Wines and Spirits by a portfolio of brands that includes Moët
& Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug,
Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays,
Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie,
Ardbeg, Belvedere, Woodinville, Volcán de Mi Tierra, Chandon,
Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle,
Newton, Bodega Numanthia, Ao Yun, Château d'Esclans and Château du
Galoupet. Its Fashion and Leather Goods division includes Louis
Vuitton, Christian Dior Couture, Celine, Loewe, Kenzo, Givenchy,
Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA,
Patou and Fenty. LVMH is present in the Perfumes and Cosmetics
sector with Parfums Christian Dior, Guerlain, Parfums Givenchy,
Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever,
Acqua di Parma, Fresh, Fenty Beauty by Rihanna and Maison Francis
Kurkdjian. LVMH's Watches and Jewelry division comprises Bvlgari,
TAG Heuer, Chaumet, Dior Watches, Zenith, Fred and Hublot. LVMH is
also active in selective retailing as well as in other activities
through DFS, Sephora, Le Bon Marché, La Samaritaine, Groupe Les
Echos, Cova, Le Jardin d’Acclimatation, Royal Van Lent, Belmond and
Cheval Blanc hotels.
About Tiffany & Co.
In 1837, Charles Lewis Tiffany founded his
company in New York City where his store was soon acclaimed as the
palace of jewels for its exceptional gemstones. Since then, TIFFANY
& CO. has become synonymous with elegance, innovative design,
fine craftsmanship and creative excellence. During the 20th
century, its fame thrived worldwide with store network expansion
and continuous cultural relevance, as exemplified by Truman
Capote’s Breakfast at Tiffany’s and the film starring Audrey
Hepburn.
Today, with more than 14,000 employees, TIFFANY
& CO. and its subsidiaries design, manufacture and market
jewelry, watches and luxury accessories - including nearly 5,000
skilled artisans who cut diamonds and craft jewelry in the
Company’s workshops, realizing its commitment to superlative
quality. TIFFANY & CO. has a long-standing commitment to
conducting its business responsibly, sustaining the natural
environment, prioritizing diversity and inclusion, and positively
impacting the communities in which we operate.
LVMH CONTACTS
Analysts and investorsChris HollisLVMH+ 33 1 44 13
21 22 |
MediaJean-Charles TréhanLVMH+ 33 1 44 13 26 20Nik
Deogun / Blake SonnensheinBrunswick Group+ 1 212 333 3810Aurélia de
LapeyrouseBrunswick Group+ 33 1 53 96 83 83Hugh MorrisonMontfort
Communications+ 44 7921 881 800 Olivier LabesseDGM
Conseil+ 33 1 40 70 11 89 |
- LVMH Press Release 7 jan 2021
Lvmh Moet Hennessy Louis... (EU:MC)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Lvmh Moet Hennessy Louis... (EU:MC)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024