French luxury giant LVMH, which owns over 70 luxury brands, including Louis Vuitton and Christian Dior, has followed an upward trend since the beginning of the year and has just reached a new milestone on November 4: its market capitalization exceeds 201 billion euros (396.90 euros, +7.50), a threshold never reached by a French group.
It should be recalled that on January 30, 2019, LVMH began the year triumphantly with a valuation of more than 140 billion euros, distinguishing itself as the leading market capitalisation in the euro zone ahead of the Total group.
LVMH has also announced that it has been negotiating since early October to buy American jeweller Tiffany&CO. The luxury giant confirmed that it had made a $14.5 billion offer for its acquisition, while stressing that at this stage it had “no certainty” that these negotiations would be successful.
In New York, the American jeweller acknowledged that he “carefully examined the proposal” and refused to comment further.
Following LVMH’s proposal made public on October 28, Tiffany’s share price soared from 28.8% to $126.95, above the advanced price ($120 per share) by LVMH.
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