The acquisition is valued at $US16.2 billion – the largest in LVMH’s historical past, eclipsing its $US13.1 billion acquisition of luxurious trend home Christian Dior in 2017. And for LVMH, the record-breaking deal offered a possibility to double the revenue of its smallest division – watches and jewellery – with a model aligned with its values of heritage, tradition, and luxurious craftsmanship. Same-store gross sales of gold products, including jewelry, decreased by 10 per cent in China; nonetheless, in Hong Kong, that class improved by 89 per cent.
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