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  • LVMH has completed its $15.8 billion takeover off US jeweler Tiffany.

  • It marks an end to a long and sometimes painful saga for both firms.

  • LVMH backed away from the deal in the midst of last year's global lockdowns, saying its original bid for Tiffany looked too high after a bitter legal dispute.

  • The pair eventually agreed on a lower price cut by $425 million.

  • Now the French luxury goods group is wasting no time shaking up management.

  • On Thursday, it named new bosses for Tiffany.

  • Senior Louis Vuitton executive Anthony Let Drew becomes chief executive on Alexandra are No becomes an executive vice president.

  • He's the son off LVMH boss Bernard Arnault and formerly ran Remora, the group's luxury suitcase brand.

  • Analysts bet LVMH will now try to expand Tiffany product ranges to target younger shoppers.

  • It's also expected to make a big push in Asian markets.

  • The conglomerate has already signaled changes on the design front, saying Tiffany's artistic and brand chiefs will both be leaving.

LVMH has completed its $15.8 billion takeover off US jeweler Tiffany.

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LVMH completes $15.8 billion Tiffany takeover

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    林宜悉 posted on 2021/01/07
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