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France’s Richest Man Bets $16 Billion on Lost Tiffany Luster

  • Louis Vuitton owner eyes revamp of U.S. jeweler after purchase
  • Bernard Arnault strikes his biggest takeover deal yet
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The deal raises the French conglomerate’s profile in jewelry, as Bloomberg’s Aaron Kirchfeld reports.Source: Bloomberg
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France’s richest man is adding the biggest jewel yet to his collection, as Bernard Arnault clinched a deal to buy Tiffany & Co. for $16.2 billion.

If history is any guide, the LVMH chairman will move quickly to apply his tried-and-tested formula for growth to the tarnished U.S. brand: simultaneously expanding its presence across the world, especially in promising Asian markets, while boosting exclusivity and prices.