LVMH made an announcement on Monday that it has finalized a deal to acquire US jewelry retailer, Tiffany & Co, for $16.2 billion.
This is LVMH's most expensive acquisition ever. The company already owns brands such as Christian Dior, Louis Vuitton, and Hennessy and is the world's largest luxury conglomerate.
The acquisition will strengthen LVMH's exposure in the US market and allow it to become a bigger player in fine jewelry.
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