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Tiffany & Co. sells to luxury group for $16.2B

November 25, 2019

Tiffany & Co. is being acquired by luxury portfolio, LVMH, for $16.2 billion. The deal will give the New York jewelry icon greater resources and support for long-term growth, according to a New York Post report.

"As part of the LVMH group, Tiffany will reach new heights, capitalizing on its remarkable internal expertise, unparalleled craftsmanship and strong cultural values," Bogliolo said in a statement.

The 182-year-old retailer joins LVMH's 75 high-end brands. News of the deal drove up Tiffany shares 5.7%.