Tiffany shareholders have approved the company’s sale to LVMH for $16.2 billion and the deal is expected to close mid-year, subject to regulatory approval.
Not surprisingly, LVMH’s patriarch Bernard Arnault says ‘Tiffany will be an outstanding addition to our unique portfolio of luxury brands’.
Which of his children will M. Arnault put in charge of Tiffany? Delphine is probably too busy, with overall-LVMH responsibilities, plus a serious interest in telecommunications: Antoine handles Berluti and Loro Piana, and has a strong interest in the celebrity world through the delightful Natalia Vodianova, and Alexandre Arnault – described by GQ August 2018 as luxury’s new disruptor-in-chief – oversees Rimowa. But do not forget the baby, Frédéric Arnault, at TAG Heuer. Bets, anyone?
Next question is will Tiffany enter the LVMH hotel empire, perhaps as a third brand, alongside Le Cheval Blanc and Belmond? Or will all these hotels have a turquoise-dressed host, along the lines of Kempinski’s Lady in Red? Some hotels already have Tiffany boutiques (think the stylish shop at Taj Boston, now The Newbury). Judging by the seemingly eternal effect of the 1961 movie Breakfast at Tiffany’s, the brand and hospitality are natural bedfellows.