VIP visitor: Trump holding a purse as Louis Vuitton’s CEO Michael Burke and chairman and CEO of Luxury goods group LVMH Bernard Arnault (right) look on during a visit to the Louis Vuitton Rochambeau Ranch leather workshop in Keene, Texas recently. — Reuters
NEW YORK: LVMH, the French owner of Louis Vuitton, is exploring a takeover of Tiffany & Co to expand in the US jewellery market, according to sources.
The luxury group is holding talks with Tiffany, though there’s no guarantee an agreement will be reached, said the sources. Tiffany’s shares have gained 22% this year, valuing it at US$12bil. LVMH has risen 49%, giving it a market capitalisation of about US$215bil.
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