The record of jewelry sold during the run-up to Christmas was not enough for CEO, Alessandro Bogliolo, to keep his place at the top of Tiffany. The French luxury group LVMH, a few hours after the ratification of the acquisition of the most famous US jewelry brand, has appointed the new top management of Tiffany. The appointments conclude the $ 15.8 billion acquisition of the historic US jewelry firm, which came after a bitter legal battle, with LVMH trying to evade the deal at the height of the covid-19 pandemic, which hit hard the luxury sector. LVMH and Tiffany therefore agreed to renegotiate the price of the deal, which was reduced to $ 425 million.
But let’s get to the news: LVMH has appointed Anthony Ledru, top manager of the Louis Vuitton brand, as CEO of Tiffany. Alessandro Bogliolo leaves Tiffani starting from 22 January. Alexandre Arnault, one of the sons of Bernard Arnault, CEO of LVMH, also joins the American Maison. Alexandre will assume the role of executive vice president and head of production and communications, while Michael Burke, CEO and president of Vuitton, will become president of Tiffany.