Louis Vuitton-parent LVMH countersues Tiffany over failed merger | Editorji
  1. home
  2. > fashion
  3. > Louis Vuitton-parent LVMH countersues Tiffany over failed merger
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute
00:00/00:00
NaN/0

Louis Vuitton-parent LVMH countersues Tiffany over failed merger

Sep 29, 2020 19:36 IST

French luxury giant Moët Hennessy Louis Vuitton (LVMH) sued jewellery house Tiffany and Co on Tuesday in a Delaware court over their failed merger deal, reports Wall Street Journal. 

LVMH said the American jeweller's business has been severely damaged by the pandemic making their prior takeover agreement invalid. 

The lawsuit from the Louis Vuitton-parent counters a lawsuit by Tiffany that said LVMH was backing out of its $16 billion acquisition of the jeweller. 

LVMH's lawsuit says Tiffany’s dependence on the US retail market makes its prospects grim and that jeweller is a 'mismanaged business ill-suited for the challenges ahead.' 

Fashion