LVMH closes acquisition of iconic jewelry brand Tiffany

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LVMH Moët Hennessy Louis Vuitton SE said Thursday it has completed the acquisition of the iconic jewelry store Tiffany & Co. , after the deal hit some roadblocks during the pandemic. LVMH named Anthony Ledru new chief executive of the U.S. brand. Ledru was previously executive vice president, global commercial activities at Louis Vuitton and senior vice president of North America at Tiffany. Alessandro Bogliolo, current Tiffany CEO, will remain at the company during a transition period through Jan .22. Tiffany shares were halted premarket for the news.
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