LVMH has acquired Tiffany & Co. for $135 per share in cash, in a transaction with an equity of approximately €14.7 billion or $16.2 billion. The brand was founded in 1837 when Charles Lewis Tiffany opened the first store in downtown Manhattan. Today the brand has more than 300 stores around the globe. 

LVMH's acquisition of Tiffany will strengthen its position in jewellery and further increase its presence in the US. In addition, Tiffany will transform LVMH's Watches & Jewellery division and complement its 75 distinguished houses.