Tiffany Says October Sales Strong as Legal Battle With LVMH Drags on - SolidRumor.com

Tiffany Says October Sales Strong as Legal Battle With LVMH Drags on

 Tiffany Says October Sales Strong as Legal Battle With LVMH Drags on

Tiffany & Co. store sign | Source: Shutterstock

NEW YORK, United States — Tiffany & Co said on Thursday sales have been rising through October with its business in the midst of a rebound, as the jeweller looked to counter claims from French luxury giant LVMH that its prospects were “dismal.”

The companies have been locked in a heated legal battle since last month after LVMH said it would walk away from its $16 billion deal to buy Tiffany, citing an official foreign ministry request to delay the closing of the transaction and worsening business conditions at Tiffany because of the Covid-19 pandemic.

Tiffany said its sales in Mainland China were “extremely strong” and its business was recovering in the United States, boosted by strong online demand.

The company said fourth-quarter earnings are expected to increase by mid-to-high single digit percentage from a year earlier.

By Uday Sampath; editor: Sriraj Kalluvila and Shounak Dasgupta.

Add Comment