LVMH Clinches Tiffany at Small Discount and a Lot of Bad Blood

Louis Vuitton prides itself on never putting its goods on sale. Be prepared to buy those canvas totes and cashmere coats at full price, or don’t buy at all, is the message to shoppers.

It’s a strategy that has preserved the brand’s luxury appeal and made LVMH boss Bernard Arnault fabulously wealthy. And it’s an approach that clearly inspired Tiffany & Co. in its negotiation tactic to get an increasingly messy and acrimonious combination with LVMH over the line.