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LVMH news and archive

Business

Tiffany wins court approval to fast-track lawsuit against LVMH

US jewelry brand Tiffany & Co has won approval by the Delaware Chancery Court to have its lawsuit against french conglomerate LVMH fast-tracked. The lawsuit was launched by the jeweler after LVMH said in September it was pulling out of its 16 billion dollar deal to acquire Tiffany. LVMH said its board had made the decision following “a...

20 hours ago

Business

LVMH submits Tiffany deal for approval by European Commission

LVMH confirmed Friday that it has submitted the proposed acquisition of Tiffany for antitrust review, immediately after receiving approval to proceed by the European Commission. LVMH noted that eight of the ten requisite antitrust clearances have already been obtained. LVMH expects to receive approval from the European Commission and Taiwan well...

21 Sep 2020

Business

Tiffany responds to LVMH opposition, wants to expedite lawsuit

Tiffany is fighting back against LVMH, after the conglomeratepulled out of its acquisition deal earlier this month.The luxury jewelry brand filed a lawsuit against LVMH, to which the latterthreatened to countersue.Now Tiffany is pushing back, once again. LVMH filed an opposition in Delaware Chancery Court, against Tiffany's request to expedite...

17 Sep 2020

Business

LVMH says will counter-sue Tiffany, accuses it of 'dishonesty'

French luxury giant LVMH said Thursday it would counter-sue US jeweller Tiffany, accusing it of “dishonesty” as their plans for a sparkling tie-up descended into bitter recrimination. “LVMH was surprised by the lawsuit filed by Tiffany,” the French owner of brands such as Louis Vuitton, Dior and Moet & Chandon said in a statement. “LVMH...

10 Sep 2020

People

Kim Jones to design womenswear at Fendi

Italian fashion house Fendi has confirmed that British designer Kim Jones will join the label as artistic director of haute couture, ready-to-wear and fur collections for women. Jones, succeeds Karl Lagerfeld who died in 2019 and had designed for the fashion house since 1965. The fashion house added that Jones will work closely with Silvia...

9 Sep 2020

Business

Martin Brok takes over as President and CEO of Sephora

LVMH Group has appointed Martin Brok as the new President and CEO of Sephora, effective September 14, 2020, reporting to Chris de Lapuente. The company said in a statement that Lapuente remains a member of the LVMH Comex and will take on additional responsibilities within the Group, to be announced at a later date. “I want to thank Chris for...

9 Sep 2020

People

LVMH names new vice president of diversity and inclusion

LVMH Moët Hennessy, the parent company of luxury fashion brands including Louis Vuitton, Dior, and Givenchy, has named Corey Smith their new vice president of diversity and inclusion. Smith was previously vice president of diversity and inclusion at Major League Baseball. “LVMH has demonstrated a deep commitment to creating opportunities for...

2 Sep 2020

Retail

Why Gen Y & Z continue shopping despite crisis

Closed stores and strict hygiene measures are the images that have gone around the world since the outbreak of the coronavirus pandemic. Even though stores have reopened in many places, full purchasing power has not yet returned. However, the internet generation does not seem to be affected by this and continues to go on shopping sprees, online...

27 Aug 2020

Business

LVMH and Tiffany delay acquisition deal by three months

French luxury giant LVMH and US jewelry brand Tiffany & Co have reportedly delayed the deadline for their acquisition deal by three months. The 16.2 billion dollar deal is now set to close in November after it failed to close on 24 August, the date set out in the documents of the deal, Reuters reports, citing sources familiar with the matter....

25 Aug 2020

Fashion

Fendi invests in new leather goods factory

Fendi is to invest 57 million euros in a leather goods factory in Florence. The details were revealed by Tuscany’s Regional Council which said Fendi, together with parent company LVMH, the Ministry of Economic Development and Invitalia, will sign an agreement to expand “a new plant that will employ 133 new employees for a total investment of...

3 Aug 2020

Business

Kering posts worst quarterly sales on record

The Asia rebound for luxury goods demand didn’t buy LVMH, which saw a loss of 68 percent in revenue in the second quarter. It also didn’t boost Kering’s sales, which posted a loss of 43.7 percent to 2.175 billion dollars compared to the same period last year. Kering said consolidated revenue of 5.38 billion in H1 was down 30.1 percent. on a...

29 Jul 2020

Fashion

Celine to debut men's collections online

Celine has surprised the industry by deciding to participate in the digital iteration of Men's Fashion Month after all. The LVMH-owned luxury brand will be unveiling a project titled "The Dancing Kid" that will go live on Instagram, celine.com, and TikTok. Celine began teasing the project on their Instagram feed with images of a banner that said...

27 Jul 2020