LVMH Moët Hennessy Louis Vuitton SE, the world’s leading luxury products group, has completed the acquisition of Tiffany & Co, the global luxury jeweler. The acquisition of this iconic US jeweler will deeply transform LVMH’s Watches & Jewelry division and complement LVMH’s 75 luxury brands.
In conjunction with the closing of the transaction, LVMH has announced several leadership appointments at Tiffany.
Anthony Ledru, previously Executive Vice President, Global Commercial Activities at Louis Vuitton and formerly Senior Vice President of North America at Tiffany, becomes Chief Executive Officer of Tiffany, effective immediately.
Alexandre Arnault, previously Chief Executive Officer of high-quality luggage company RIMOWA, becomes Executive Vice President, Product and Communications of Tiffany, effective immediately.
Michael Burke, the Chairman and Chief Executive Officer of Louis Vuitton, will become Chairman of Tiffany Boardof Directors.
Anthony Ledru, Chief Executive Officer of Tiffany, said: “I am delighted to re-join Tiffany, the most iconic American luxury brand which I have long admired. The inclusiveness and optimism upon which Tiffany was founded resonate now more than ever. I also come back to a Maison that is at the forefront of the environmental and sourcing standards in its industry. Going forward, I have deep confidence in LVMH’s commitment to protect the brand, driveits growth strategy and apply the highest standards of retail excellence to Tiffany. The potential ahead is limitless, and I look forward to writing this next deeply promising chapter, along with the 14,000 Tiffany employees around the world.”
Alexandre Arnault has led RIMOWA since January 2017, after initiating and leading its acquisition by LVMH. His professional career began in the United States in strategic consulting, at McKinsey & Company, then in private equity at KKR in New York. He then joined LVMH and Groupe Arnault to focus on digital innovation. In this capacity, Alexandre Arnault participated in the definition and implementation of a strategy to address the challenges of the development of e-commerce in the high-quality products sector. Over the past four years, he has successfully repositioned RIMOWA and elevated its brand image. Alexandre Arnault graduated from École Telecom ParisTech and holds a master’s degree from École Polytechnique.