Tiffany & Co. and the $15.8 billion deal that put it under LVMH

Charles Lewis Tiffany and John B. Young opened a stationery and fancy goods store in lower Manhattan in 1837. Tiffany later focused on silver and jewelry, and the company’s robin’s-egg blue box became one of the best-known pieces of packaging in retail.

In 1940 Tiffany moved its flagship to Fifth Avenue at 57th Street, the store made famous by the 1961 film Breakfast at Tiffany’s.

The LVMH deal

In 2019 LVMH, the French luxury group led by Bernard Arnault, agreed to buy Tiffany. The deal was briefly thrown into doubt during the pandemic, and the two sides went to court before agreeing to a slightly lower price. The acquisition closed in January 2021 at about $15.8 billion, one of the largest in the luxury industry.

A new image

Under LVMH, Tiffany brought in new leadership, changed its advertising and pushed higher-priced jewelry. The Fifth Avenue store closed for a major renovation and reopened in 2023 as “The Landmark,” with added floors, art and a restaurant.

The company still makes much of its jewelry in its own workshops, and its silver and diamond pieces remain central to its business. The blue box is unchanged.