However, it nonetheless represents LVMH’s costliest acquisition in its historical past. In a statement, LVMH confirms it has submitted the proposed acquisition of Tiffany & Co. for antitrust evaluate by the European Commission. The group’s failure to obtain needed worldwide regulatory clearances was noted in Tiffany & Co.’s legal submitting.
The report signifies that income has declined three per cent, to $US2.1 billion, while gross sales have fallen four per cent. Additionally, lower than 10 per cent of watches and jewellery revenue is from the US market, in contrast with 23 per cent from Europe and 35 per cent from …