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It also refuted claims that it had mismanaged the disaster, stating that retailer closures were “totally according to its legal obligations” and done to guard the safety of workers and customers. In its quarterly report, Tiffany & Co. administration confirms gross sales have fallen 45 per cent as a end result of impact of COVID-19, including an 85 per cent fall in Mainland China in February. The Tiffany & Co. board accepts LVMH’s supply, which values the corporate at $US135 per share, calling it “an thrilling Jewelery News path forward”. The acquisition is valued at $US16.2 billion – the most important in LVMH’s history, eclipsing its $US13.1 billion acquisition of luxurious style house Christian Dior in 2017. And for LVMH, the record-breaking deal introduced an opportunity to double the income of its smallest division – watches and jewelry – with a brand aligned with its values of heritage, tradition, and …