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The acquisition is valued at $US16.2 billion – the most important in LVMH’s historical past, eclipsing its $US13.1 billion acquisition of luxurious fashion house Christian Dior in 2017. And for LVMH, the record-breaking deal introduced a chance to double the revenue of its smallest division – watches and jewelry – with a model aligned with its values of heritage, custom, and luxury craftsmanship. Same-store sales of gold merchandise, together with jewelry, decreased by 10 per cent in China; nonetheless, in Hong Kong, that class improved by 89 per cent. Chow Tai Fook Jewellery Group Ltd and Luk Fook Holdings Ltd…
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