Before the coronavirus, luxury conglomerate LVMH was posting record-breaking revenues and sending Bernard Arnault's net worth soaring.
NEW YORK: Amazon CEO Jeff Bezos is no longer the world’s richest person—for now, at least, foreign media reported.
KEY POINTS The boards of both LVMH and Tiffany approved the deal on Sunday and the transaction is expected to close in the middle of 2020, subject to approval from Tiffany’s shareholders and regulatory approvals. Tiffany was founded in New York in 1837 and became an iconic jewelry brand in the 20th century, but it has struggled with growth over the last several years.
Rihanna created Fenty with luxury retail conglomerate LVMH. The Parisian pop-up officially opens its doors to the public on Friday 24 May.