Tiffany on Monday said it’s examining a $14.5 billion acquisition offer from LVMH, whose high-end product lines, including Louis Vuitton, have been a hit with Millennial audiences at a time when many brick and mortar retail companies have struggled to establish and maintain their own brand loyalty. Yet industry analysts are divided on whether the move makes sense for the 182-year-old jewelry retailer, which has made great strides recently in cultivating Millennial customers of its own. Tiffany signaled it will take its time to determine whether the venture is worth accepting. One way or another, the company said it “remains focused on achieving its goal of becoming The Next Generation Luxury Jeweler.” “While the parties are not in discussions, Tiffany’s Board of Directors … is carefully reviewing the [LVMH] proposal, with the assistance of independent financial and legal advisors, to determine the course of action it believes is in the best interests of the company and its shareholders,” Tiffany said in a written statement Monday. The market was intrigued by the offer, with Tiffany shares jumping 31%, closing at $129.72 on Monday. The stock fell a little more than 1% Tuesday. The Paris-based LVMH — whose brands also include high-end… Read full this story
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