Find in the news:
BY COUNTRY

LVMH refuses to buy Tiffany



Tiffany went to court to force LVMH to close the deal or to award compensation to the company for the loss.
Louis Vuitton Depositphotos

The acquisition of the American luxury jewelry retailer Tiffany by the French conglomerate LVMH Moet Hennessy Louis Vuitton was officially announced in November 2019. The terms of the agreement were $16.2 billion. It was planned to be completed in June 2020. However, the deal was postponed several times, first to August 24, then to November 24, 2020 - and finally, LVMH said it could not close the deal at all.

The conglomerate said it had received a letter from the French Ministry of Foreign Affairs asking for the deal's completion to be postponed until January 6, 2021. This date is more than a month after the closing deadline provided in the agreement - November 24. According to the LVMH, such government moves are caused by political tensions between Paris and Washington. Thus, as officially stated by the company, the transaction is not currently complete due to a violation of previously agreed deadlines. 

In turn, Tiffany declares that LVMH is using a letter from the French authorities, which is not legally valid, as a pretext to withdraw from the deal. However, the real reason is that due to market difficulties caused by the pandemic, particularly in the luxury goods sector. The conglomerate is no longer interested in such a large-scale deal. In response, Tiffany filed a lawsuit in a Delaware state court to force LVMH to close the deal or set a compensation amount.

Photo credit: depositphotos.com.

More about shopping malls in the USA



YESTERDAY, USA:
Fans of the South Korean pop sensation can try their idols' favorite dishes at McDonald's starting May 26.
DAY BEFORE YESTERDAY, Canada:
Shopping malls can no longer rely solely on retail; the future belongs to mixed-use entertainment complexes.
Apr 16, 2021, Qatar:
The sports giant is moving beyond traditional shopping, blurring the lines between the physical and digital spaces.
Apr 15, 2021, USA:
The Hollywood & Highland Center mall's top floors will be converted for various events and create office space.
Apr 14, 2021, USA:
Subway is looking for a buyer after falling revenues and massive restaurant closures in 2020.
Apr 14, 2021, Qatar:
The highlight of the celebrations will be a variety of culinary delights from local and foreign chefs. True, you will only be able to find them on the pages of social networks.
Friend
and Follow
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Adigeo GLA:452 084 SF
ADDRESS: Verona city center
Italy . Verona
Adigeo
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest Mall


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us