By John Smith • 30 October 2020 • 16:33
THE much-reported spat between luxury brands LVMH (Louis Vuitton, Moët, Hennessy) and Tiffany which led to name calling and a law suit appears to be about to end amicably with a takeover now in sight.
A deal was agreed for LMVH to purchase Tiffany but the French brand decided it wanted to pull out due to turndown in sales following the lockdown so Tiffany sued them as it wanted the deal to proceed.
The new deal sees a reduction of around €360 million from the €13.5 billion originally agreed.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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