The French luxury goods conglomerate behind Louis Vuitton is to buy US jeweller Tiffany for $16.2bn, adding another world-renowned brand to a stable that includes Christian Dior and Bulgari.
LVMH said on Monday it hoped to complete the deal for New York-based Tiffany next year after upping its offer from $14.5bn last month.
LVMH already owns 75 luxury labels including Fendi, Givenchy and Tag Heuer. Its swoop for Tiffany will add 300 boutiques worldwide and strengthen its position in the jewellery market.
The conglomerate said both companies’ boards approved the deal and hope to finalise the takeover in 2020 subject to the approval of regulators and Tiffany shareholders.
LVMH says the deal will strengthen its position in high-end jewellery and in the US market.
1/50 25 November 2019
A damaged bridge in the village of Kineta, Greece. The storm named ‘Gyrionis’ triggered heavy rainfall in the region of Attica and other parts of Greece causing damages in homes and roads
EPA
2/50 24 November 2019
A protester jumps between burning tires during ongoing anti-government protests in Basra, Iraq
REUTERS
3/50 23 November 2019
Fans dressed as Star Wars characters during day three of the first Test between Australia and Pakistan at The Gabba in Australia
Getty
4/50 22 November 2019
Pope Francis speaks with religious leaders during a meeting at the Chulalongkorn University in Bangkok, Thailand
Reuters
5/50 21 November 2019
A girl injured in last night’s attack by the Syrian regime on a camp for displaced people near the Turkish border in Idlib, Syria is held up to the camera
AFP/Getty
6/50 20 November 2019
Indian paramilitary soldiers detain a Congress party supporter during a protest against the withdrawal of Special Protection Group (SPG) cover to party president Sonia Gandhi, her children and former prime minister Manmohan Singh, in New Delh. The move to lift off the SPG security, an elite force that protects prime ministers and their immediate families, led to sharp reactions from the Congress, which accused the government of personal vendetta
AP
7/50 19 November 2019
An image taken from a plane window shows Sydney shrouded in smoke from nearby bush fires
AAP Imagevia Reuters
8/50 18 November 2019
Protesters run for cover after riot police fired tear gas towards the bridge they were climbing down to the road below, to escape from Hong Kong Polytechnic University. Dozens escaped the besieged campus by lowering themselves on a rope from a footbridge to a highway. Once on the road they were seen being picked up by waiting motorcyclists
AFP via Getty
9/50 17 November 2019
Anti-government protesters draped in Iraqi national flags walk into clouds of smoke from burning tires during a demonstration in the southern city of Basra, Iraq
AFP via Getty
10/50 16 November 2019
A protester wearing a yellow jacket waves a French flag in a fountain during a demonstration to mark the first anniversary of the “yellow vests” movement in Nice, France
Reuters
11/50 15 November 2019
A Palestinian protester uses a slingshot to return a tear gas canister fired by Israeli forces amid clashes following a weekly demonstration against the expropriation of Palestinian land by Israel in the village of Kfar Qaddum
AFP via Getty
12/50 14 November 2019
A patient suffering from dengue fever receives medical treatment at an isolation ward at a hospital in Larkana, Pakistan. According to local reports, 26 deaths have been reported out of a total of 10,013 confirmed cases of dengue infection. Dengue fever is reportedly caused by a specific type of mosquito, the Aedes mosquito, that bites only during daytime, especially during sunrise and sunset.
EPA
13/50 13 November 2019
An anti-government protester flashes the V-sign for victory in front of burning tyres used to block a main road at the entrance of Tripoli. The previous night, street protests erupted across Lebanon after President Michel Aoun defended the role of his allies, the Shiite movement Hezbollah, in Lebanon’s government, cutting off several major roads. In his televised address, Aoun proposed a government that includes both technocrats and politicians
AFP via Getty
14/50 12 November 2019
An Israeli missile launching from the Iron Dome defence missile system, designed to intercept and destroy incoming short-range rockets and artillery shells. They were sent up to intercept rockets launched from the nearby Palestinian Gaza Strip. Israel’s military killed a commander for Palestinian militant group Islamic Jihad in a strike on his home, prompting retaliatory rocket fire and fears of a severe escalation in violence
AFP/Getty
15/50 11 November 2019
A species of deer thought to be extinct, the chevrotain, has been spotted for the first time in 30 years in the wilds of Vietnam. The deer is around the size of a domestic cat
SIE/GWC/Leibniz-IZW/NCNP /SWNS.C
16/50 10 November 2019
The royal motorcade of Japanese Emperor Naruhito and Empress Masako, under tight security, passes through a street in Tokyo. Thousands of people gathered for the rare open-top car parade featuring the newly enthroned Emperor
Kyodo News via AP
17/50 9 November 2019
People knock over a mock-up of the former Berlin Wall during a performance prior to the German first division Bundesliga football match Hertha BSC Berlin v RB Leipzig on the 30 anniversary of the fall off the wall
AFP/Getty
18/50 8 November 2019
Flames from an out of control bushfire from a nearby residential area in Harrington, northeast of Sydney. Australian firefighters warned they were in “uncharted territory” as they struggled to contain dozens of out-of-control bushfires across the east of the country
Kelly-ann Oosterbeek/AFP/Getty
19/50 7 November 2019
Demonstrators shine lasers during a protest against Chile’s government in Santiago, the capital
Reuters
20/50 6 November 2019
Activists from India’s main opposition Congress party shout slogans as they are stopped by police during a protest against what the activists say is economic slowdown in the country, in Guwahati, India
Reuters
21/50 5 November 2019
Smoke rises from a fire in downtown Lagos, Nigeria. Firefighters worked hard to try and extinguish a fire at the Balogun market. Thick black smoke and flames shot from the five-story buildings as fire trucks attempted to get access
AP
22/50 4 November 2019
Women run down a sand dune as they take part in the desert trek “Rose Trip Maroc” in the erg Chebbi near Merzouga. It is a female-oriented trek where teams of three must travel through the southern Moroccan Sahara desert with a compass, a map and a topographical reporter
AFP via Getty
23/50 3 November 2019
Riot police descend an escalator inside the City Plaza mall in Hong Kong after a bloody knife fight wounded six people there. A local pro-democracy politician had his ear bitten off during another chaotic day of political unrest in the city
AFP via Getty
24/50 2 November 2019
People participate in the celebration of the ‘muerteadas de Jalapa del Valle’, as part of the Day of the Dead in Mexico
EPA
25/50 1 November 2019
Firefighters work to control flames from a backfire during the Maria fire in Santa Paula, California
AFP via Getty
26/50 31 October 2019
Aurora Borealis, the Northern Lights, over the Vestrahorn mountain in the east of Iceland
PA
27/50 30 October 2019
A model presents a creation at the show Heaven Gaia by Xiong Ying during the China Fashion Week in Beijing. The fashion event runs from 25 October to 2 November
EPA
28/50 29 October 2019
Hindu devotees collect rice as offerings on ‘Annakut’ or ‘Govardhan Puja’ festival at the Madan Mohan temple in Kolkata. People in large numbers gather at the temple to collect the rice offerings in the belief that it will keep them in good health and they’ll never face poverty or scarcity of food
AFP via Getty
29/50 28 October 2019
Authorities investigate after a Port Authority bus was caught in a sinkhole in downtown Pittsburgh, Pennsylvania
AP
30/50 27 October 2019
South Africa players celebrate after beating Wales in their Rugby World Cup semi-final match. The Springboks will face England in next Saturday’s final following fly-half Handre Pollard’s match-winning penalty four minutes from time. The match ended 19-16
Reuters
31/50 26 October 2019
Participants from Thailand pose in front of the Chiang Kai-shek Memorial Hall as they take part in the annual gay pride parade in Taipei. Some two hundred thousand revellers marched through Taipei in a riot of rainbow colours and celebration as Taiwan held its first pride parade since making history in Asia by legalising gay marriage
AFP/Getty
32/50 25 October 2019
A girl enjoys a ball bath as she is being photographed at the made-for-Instagram museum ‘Cali Dreams’ in Dusseldorf, Germany. No artworks are shown in this museum, rather each visitor himself becomes an artwork by staging himself in front of one of the 25 sceneries. Cali Dreams is initially open for three months. After this test phase, however, the museum is planned as a long-term project
EPA
33/50 24 October 2019
A fire lorry speeds towards a rampant wildfire near Geyserville, California
AFP/Getty
34/50 23 October 2019
Protesters facing Lebanese army soldiers wave national flags in the area of Jal al-Dib in the northern outskirts of Beirut. A week of unprecedented street protests against the political class showed no signs of abating, despite the army moving to reopen key roads. Protests were sparked on October 17 by a proposed tax on WhatsApp and other messaging apps
AFP/Getty
35/50 22 October 2019
Liberal leader and Canadian Prime Minister Justin Trudeau waves to supporters beside his wife Sophie after the federal election at the Palais des Congres in Montreal. He managed to hold on to power, albeit of a minority government, in one of the most divisive elections in the country’s history
Reuters
36/50 21 October 2019
A convoy of US vehicles is seen after withdrawing from northern Syria, on the outskirts of Dohuk, Iraq
Reuters
37/50 20 October 2019
Japan players go over to thank their fans after South Africa beat them in the quarter-final of the Rugby World Cup. Makazole Mapimpi double ended the hosts’ dreams in Tokyo 3-26. The Springboks will now face Wales in the semi-finals for a place in the final
Reuters
38/50 19 October 2019
Archaeologists remove the cover of an ancient painted coffin discovered at Al-Asasif Necropolis in the Vally of Kings in Luxor, Egypt
Reuters
39/50 18 October 2019
A protester throws a tire on a fire to block the highway north of Beirut, Lebanon. Protesters, mainly civil activists, started demonstrating in the downtown area on 17 October, condemning proposed taxes in the 2020 budget. An unexpected addition to impose a daily fee for using WhatsApp calls caused outrage. However, according to the Telecommunications Minister Mohamed Choucair, the charge will not make it through the government palace after the impact it has made on the streets
EPA
40/50 17 October 2019
Children watch as army tanks are transported on trucks in the outskirts of the town of Akcakale, in Sanliurfa province, southeastern Turkey, at the border of Syria
AP
41/50 16 October 2019
North Korean leader Kim Jong Un riding a white horse amongst the first snow at Mouth Paektu
KCNA VIA KNS/AFP/Getty
42/50 15 October 2019
Protesters create a burning barricade after the Supreme Court in Madrid handed lengthy prison sentences to nine of the detained Catalonian leaders for up to 13 years each
EPA
43/50 14 October 2019
Protestors light their torches during a peaceful rally in central Hong Kong’s business district. The protests that started in June over a now-shelved extradition bill have since snowballed into an anti-China campaign amid anger over what many view as Beijing’s interference in Hong Kong’s autonomy that was granted when the former British colony returned to Chinese rule in 1997
AP
44/50 13 October 2019
Japan players celebrate victory after beating Scotland 28-21 to reach the quarter-finals of the Rugby World Cup for the first ever time. The hosts head coach Jamie Joseph paid tribute to those who lost their lives in Typhoon Hagibis
Getty Images
45/50 12 October 2019
Surging waves generated by typhoon Hagibis hit the seashore in Mihama, Mie Prefecture, Japan. Hagibis is the strongest storm to hit in six decades and battered the country’s main island with torrential rain and violent winds
EPA
46/50 11 October 2019
Firefighters battle the Saddleridge fire in Sylmar, California
AP
47/50 10 October 2019
People run to take cover after mortars fired from Syria, in Akcakale, Turkey. An Associated Press journalist said at least two government buildings were hit by the mortars in Sanliurfa province’s border town of Akcakale and at least two people were wounded
AP
48/50 9 October 2019
Policemen climb over a wall close to the site of a shooting where at least two people were killed at multiple locations in Germany, including near a synagogue in the city of Halle
dpa/AFP/Getty
49/50 8 October 2019
This multi-exposure picture shows USA’s Simone Biles performing on the beam during the women’s team final at the Artistic Gymnastics World Championships in Stuttgart
AFP/Getty
50/50 7 October 2019
Extinction Rebellion activists block an intersection in Melbourne, Australia
Reuters
1/50 25 November 2019
A damaged bridge in the village of Kineta, Greece. The storm named ‘Gyrionis’ triggered heavy rainfall in the region of Attica and other parts of Greece causing damages in homes and roads
EPA
2/50 24 November 2019
A protester jumps between burning tires during ongoing anti-government protests in Basra, Iraq
REUTERS
3/50 23 November 2019
Fans dressed as Star Wars characters during day three of the first Test between Australia and Pakistan at The Gabba in Australia
Getty
4/50 22 November 2019
Pope Francis speaks with religious leaders during a meeting at the Chulalongkorn University in Bangkok, Thailand
Reuters
5/50 21 November 2019
A girl injured in last night’s attack by the Syrian regime on a camp for displaced people near the Turkish border in Idlib, Syria is held up to the camera
AFP/Getty
6/50 20 November 2019
Indian paramilitary soldiers detain a Congress party supporter during a protest against the withdrawal of Special Protection Group (SPG) cover to party president Sonia Gandhi, her children and former prime minister Manmohan Singh, in New Delh. The move to lift off the SPG security, an elite force that protects prime ministers and their immediate families, led to sharp reactions from the Congress, which accused the government of personal vendetta
AP
7/50 19 November 2019
An image taken from a plane window shows Sydney shrouded in smoke from nearby bush fires
AAP Imagevia Reuters
8/50 18 November 2019
Protesters run for cover after riot police fired tear gas towards the bridge they were climbing down to the road below, to escape from Hong Kong Polytechnic University. Dozens escaped the besieged campus by lowering themselves on a rope from a footbridge to a highway. Once on the road they were seen being picked up by waiting motorcyclists
AFP via Getty
9/50 17 November 2019
Anti-government protesters draped in Iraqi national flags walk into clouds of smoke from burning tires during a demonstration in the southern city of Basra, Iraq
AFP via Getty
10/50 16 November 2019
A protester wearing a yellow jacket waves a French flag in a fountain during a demonstration to mark the first anniversary of the “yellow vests” movement in Nice, France
Reuters
11/50 15 November 2019
A Palestinian protester uses a slingshot to return a tear gas canister fired by Israeli forces amid clashes following a weekly demonstration against the expropriation of Palestinian land by Israel in the village of Kfar Qaddum
AFP via Getty
12/50 14 November 2019
A patient suffering from dengue fever receives medical treatment at an isolation ward at a hospital in Larkana, Pakistan. According to local reports, 26 deaths have been reported out of a total of 10,013 confirmed cases of dengue infection. Dengue fever is reportedly caused by a specific type of mosquito, the Aedes mosquito, that bites only during daytime, especially during sunrise and sunset.
EPA
13/50 13 November 2019
An anti-government protester flashes the V-sign for victory in front of burning tyres used to block a main road at the entrance of Tripoli. The previous night, street protests erupted across Lebanon after President Michel Aoun defended the role of his allies, the Shiite movement Hezbollah, in Lebanon’s government, cutting off several major roads. In his televised address, Aoun proposed a government that includes both technocrats and politicians
AFP via Getty
14/50 12 November 2019
An Israeli missile launching from the Iron Dome defence missile system, designed to intercept and destroy incoming short-range rockets and artillery shells. They were sent up to intercept rockets launched from the nearby Palestinian Gaza Strip. Israel’s military killed a commander for Palestinian militant group Islamic Jihad in a strike on his home, prompting retaliatory rocket fire and fears of a severe escalation in violence
AFP/Getty
15/50 11 November 2019
A species of deer thought to be extinct, the chevrotain, has been spotted for the first time in 30 years in the wilds of Vietnam. The deer is around the size of a domestic cat
SIE/GWC/Leibniz-IZW/NCNP /SWNS.C
16/50 10 November 2019
The royal motorcade of Japanese Emperor Naruhito and Empress Masako, under tight security, passes through a street in Tokyo. Thousands of people gathered for the rare open-top car parade featuring the newly enthroned Emperor
Kyodo News via AP
17/50 9 November 2019
People knock over a mock-up of the former Berlin Wall during a performance prior to the German first division Bundesliga football match Hertha BSC Berlin v RB Leipzig on the 30 anniversary of the fall off the wall
AFP/Getty
18/50 8 November 2019
Flames from an out of control bushfire from a nearby residential area in Harrington, northeast of Sydney. Australian firefighters warned they were in “uncharted territory” as they struggled to contain dozens of out-of-control bushfires across the east of the country
Kelly-ann Oosterbeek/AFP/Getty
19/50 7 November 2019
Demonstrators shine lasers during a protest against Chile’s government in Santiago, the capital
Reuters
20/50 6 November 2019
Activists from India’s main opposition Congress party shout slogans as they are stopped by police during a protest against what the activists say is economic slowdown in the country, in Guwahati, India
Reuters
21/50 5 November 2019
Smoke rises from a fire in downtown Lagos, Nigeria. Firefighters worked hard to try and extinguish a fire at the Balogun market. Thick black smoke and flames shot from the five-story buildings as fire trucks attempted to get access
AP
22/50 4 November 2019
Women run down a sand dune as they take part in the desert trek “Rose Trip Maroc” in the erg Chebbi near Merzouga. It is a female-oriented trek where teams of three must travel through the southern Moroccan Sahara desert with a compass, a map and a topographical reporter
AFP via Getty
23/50 3 November 2019
Riot police descend an escalator inside the City Plaza mall in Hong Kong after a bloody knife fight wounded six people there. A local pro-democracy politician had his ear bitten off during another chaotic day of political unrest in the city
AFP via Getty
24/50 2 November 2019
People participate in the celebration of the ‘muerteadas de Jalapa del Valle’, as part of the Day of the Dead in Mexico
EPA
25/50 1 November 2019
Firefighters work to control flames from a backfire during the Maria fire in Santa Paula, California
AFP via Getty
26/50 31 October 2019
Aurora Borealis, the Northern Lights, over the Vestrahorn mountain in the east of Iceland
PA
27/50 30 October 2019
A model presents a creation at the show Heaven Gaia by Xiong Ying during the China Fashion Week in Beijing. The fashion event runs from 25 October to 2 November
EPA
28/50 29 October 2019
Hindu devotees collect rice as offerings on ‘Annakut’ or ‘Govardhan Puja’ festival at the Madan Mohan temple in Kolkata. People in large numbers gather at the temple to collect the rice offerings in the belief that it will keep them in good health and they’ll never face poverty or scarcity of food
AFP via Getty
29/50 28 October 2019
Authorities investigate after a Port Authority bus was caught in a sinkhole in downtown Pittsburgh, Pennsylvania
AP
30/50 27 October 2019
South Africa players celebrate after beating Wales in their Rugby World Cup semi-final match. The Springboks will face England in next Saturday’s final following fly-half Handre Pollard’s match-winning penalty four minutes from time. The match ended 19-16
Reuters
31/50 26 October 2019
Participants from Thailand pose in front of the Chiang Kai-shek Memorial Hall as they take part in the annual gay pride parade in Taipei. Some two hundred thousand revellers marched through Taipei in a riot of rainbow colours and celebration as Taiwan held its first pride parade since making history in Asia by legalising gay marriage
AFP/Getty
32/50 25 October 2019
A girl enjoys a ball bath as she is being photographed at the made-for-Instagram museum ‘Cali Dreams’ in Dusseldorf, Germany. No artworks are shown in this museum, rather each visitor himself becomes an artwork by staging himself in front of one of the 25 sceneries. Cali Dreams is initially open for three months. After this test phase, however, the museum is planned as a long-term project
EPA
33/50 24 October 2019
A fire lorry speeds towards a rampant wildfire near Geyserville, California
AFP/Getty
34/50 23 October 2019
Protesters facing Lebanese army soldiers wave national flags in the area of Jal al-Dib in the northern outskirts of Beirut. A week of unprecedented street protests against the political class showed no signs of abating, despite the army moving to reopen key roads. Protests were sparked on October 17 by a proposed tax on WhatsApp and other messaging apps
AFP/Getty
35/50 22 October 2019
Liberal leader and Canadian Prime Minister Justin Trudeau waves to supporters beside his wife Sophie after the federal election at the Palais des Congres in Montreal. He managed to hold on to power, albeit of a minority government, in one of the most divisive elections in the country’s history
Reuters
36/50 21 October 2019
A convoy of US vehicles is seen after withdrawing from northern Syria, on the outskirts of Dohuk, Iraq
Reuters
37/50 20 October 2019
Japan players go over to thank their fans after South Africa beat them in the quarter-final of the Rugby World Cup. Makazole Mapimpi double ended the hosts’ dreams in Tokyo 3-26. The Springboks will now face Wales in the semi-finals for a place in the final
Reuters
38/50 19 October 2019
Archaeologists remove the cover of an ancient painted coffin discovered at Al-Asasif Necropolis in the Vally of Kings in Luxor, Egypt
Reuters
39/50 18 October 2019
A protester throws a tire on a fire to block the highway north of Beirut, Lebanon. Protesters, mainly civil activists, started demonstrating in the downtown area on 17 October, condemning proposed taxes in the 2020 budget. An unexpected addition to impose a daily fee for using WhatsApp calls caused outrage. However, according to the Telecommunications Minister Mohamed Choucair, the charge will not make it through the government palace after the impact it has made on the streets
EPA
40/50 17 October 2019
Children watch as army tanks are transported on trucks in the outskirts of the town of Akcakale, in Sanliurfa province, southeastern Turkey, at the border of Syria
AP
41/50 16 October 2019
North Korean leader Kim Jong Un riding a white horse amongst the first snow at Mouth Paektu
KCNA VIA KNS/AFP/Getty
42/50 15 October 2019
Protesters create a burning barricade after the Supreme Court in Madrid handed lengthy prison sentences to nine of the detained Catalonian leaders for up to 13 years each
EPA
43/50 14 October 2019
Protestors light their torches during a peaceful rally in central Hong Kong’s business district. The protests that started in June over a now-shelved extradition bill have since snowballed into an anti-China campaign amid anger over what many view as Beijing’s interference in Hong Kong’s autonomy that was granted when the former British colony returned to Chinese rule in 1997
AP
44/50 13 October 2019
Japan players celebrate victory after beating Scotland 28-21 to reach the quarter-finals of the Rugby World Cup for the first ever time. The hosts head coach Jamie Joseph paid tribute to those who lost their lives in Typhoon Hagibis
Getty Images
45/50 12 October 2019
Surging waves generated by typhoon Hagibis hit the seashore in Mihama, Mie Prefecture, Japan. Hagibis is the strongest storm to hit in six decades and battered the country’s main island with torrential rain and violent winds
EPA
46/50 11 October 2019
Firefighters battle the Saddleridge fire in Sylmar, California
AP
47/50 10 October 2019
People run to take cover after mortars fired from Syria, in Akcakale, Turkey. An Associated Press journalist said at least two government buildings were hit by the mortars in Sanliurfa province’s border town of Akcakale and at least two people were wounded
AP
48/50 9 October 2019
Policemen climb over a wall close to the site of a shooting where at least two people were killed at multiple locations in Germany, including near a synagogue in the city of Halle
dpa/AFP/Getty
49/50 8 October 2019
This multi-exposure picture shows USA’s Simone Biles performing on the beam during the women’s team final at the Artistic Gymnastics World Championships in Stuttgart
AFP/Getty
50/50 7 October 2019
Extinction Rebellion activists block an intersection in Melbourne, Australia
Reuters
The purchase would also give LVMH a much broader foothold in the United States and broaden its offerings in jewellery.
Tiffany says the deal will ensure the company’s long-term sustainability.
Tiffany, which is trying to transform its brand to appeal to younger shoppers, could use a company with deep pockets to help expand its business.
The offer comes as luxury goods companies have been wrestling with changing habits of shoppers who are increasingly buying online.
They are also purchasing second-hand luxury items from places like The RealReal.com.
In addition, luxury companies are facing fears of an economic slowdown in China, a key area of business, while they are already dealing with a slowdown in international tourism in the US.
Under its chief executive Alessandro Bogliolo, Tiffany is trying to appeal to younger shoppers with more modern takes on jewellery.
Earlier this year, it launched a men’s jewellery collection, and it is increasing its marketing to a more diverse customer base like same-sex couples.
It has also been renovating its flagship store in Manhattan.
Still, Tiffany’s US sales have been stagnating as China’s slowing economy has weighed on spending by Chinese tourists, who make up a substantial portion of luxury spending.
The strong dollar has also made Tiffany products more expensive for consumers outside the US.
AP news agency
