LVMH Tiffany deal : DEAD

[Chewbacca]

LVMH says the threat of US tariffs on French products has forced it to scrap its planned acquisition of Tiffany, which would have been the biggest luxury goods deal in history.

The French conglomerate announced Wednesday that as things stand, it would "not be able to complete" the $16.2 billion deal — which was announced last November — because of "a succession of events which undermine the acquisition."





So, who’s gonna buy it now?




https://www.cnn.com/2020/09/09/busin...hnk/index.html

[Blansky]

Tiffany's is over rated.

Had breakfast there once.

Nothing to write home about.

[spoon-turbo]

Bad news for Tiffany.

[superdog]

retail is screwed.....

[jwkunkle]

Originally Posted by Blansky

Tiffany's is over rated.

Had breakfast there once.

Nothing to write home about.

as I recall, I think we both kinda liked it

[Blansky]

Originally Posted by jwkunkle

as I recall, I think we both kinda liked it

Go lightly here. There's kids present.

[FTX I]

Originally Posted by Blansky

Go lightly here. There's kids present.

[GB-man]

Lol more like the fact they wildly overbid considering the current market for retail crap.

[RW16610]

Oh wow, not too surprised though given what some point out above.

[Dr.Stu]

Originally Posted by Chewbacca

LVMH says the threat of US tariffs on French products has forced it to scrap its planned acquisition of Tiffany, which would have been the biggest luxury goods deal in history.

The French conglomerate announced Wednesday that as things stand, it would "not be able to complete" the $16.2 billion deal — which was announced last November — because of "a succession of events which undermine the acquisition."





So, who’s gonna buy it now?




https://www.cnn.com/2020/09/09/busin...hnk/index.html

Maybe Rolex should. They've already got the blue!

[RazorD]

Originally Posted by Dr.Stu

Maybe Rolex should. They've already got the blue!

That’s actually a very interesting idea.

[JayHantz]

Originally Posted by Blansky

Tiffany's is over rated.

Had breakfast there once.

Nothing to write home about.

Best post of the thread

Originally Posted by jwkunkle

as I recall, I think we both kinda liked it

Best follow up. Thanks for getting that song stuck in my head.... "well that's, the one thing we got...."

[Ballzzz]

http://www.seekingalpha.com/pr/17998...rger-agreement

[GoingPlaces]

They still might work out a deal, but not at that number. It's still a storied brand and in the right hands can become quite valuable. Sure retail is screwed but Tiffany's is Tiffany's and will make it though this.

[mannyv11]

People are buying precious metal watches at full list. My AD sold his platinum daytona for full retail plus tax. People with money during the current times still have money.

Tiffany's will always have people chomping at the bit to overpay for a simple engagement ring. Retail might be screwed but premium luxury brands I think will still do OK.

[cop414]

Originally Posted by jwkunkle

as I recall, I think we both kinda liked it

...well that’s one thing we’ve got,,,

[bdex75]

Originally Posted by mannyv11

People are buying precious metal watches at full list. My AD sold his platinum daytona for full retail plus tax. People with money during the current times still have money.

Tiffany's will always have people chomping at the bit to overpay for a simple engagement ring. Retail might be screwed but premium luxury brands I think will still do OK.

This right here. This kind of market doesn’t impact people with money like it does middle class people. And there is not much in my local Tiffany for middle class people.


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