Louis Vuitton owner announces talks to acquire Tiffany for $14.5 billion

French group LVMH, owner of luxury brands such as Louis Vuitton and Möet et Chandon, announced on Monday (28) that it is in preliminary negotiations for a possible acquisition of iconic American jewelry store Tiffany. "Following recent market rumors, the LVMH group confirms that it has initiated preliminary talks on a possible operation with Tiffany," a statement released on Monday said. "At the moment there is no certainty that negotiations will be completed successfully," the statement added. LVMH group owner Bernard Arnault made a $14.5 billion offer to Tiffany in early October, but the U.S. company has not yet responded to the proposal, a source close to the negotiations told AFP. Tiffany's purchase by lvmh group would be one of the largest acquisitions of the French company, the world leader in the luxury sector, trendy gift, wines, perfumes and cosmetics. Discussions between the two companies come after billionaire Bernard Arnault opened a Louis Vuitton factory in Texas in a ceremony attended by U.S. President Donald Trump and his daughter Ivanka. Overall, the LVMH group and its 70 luxury brands - which include Christian Dior, Fendi, Hennessy and Dom Pérignon - posted record results in 2018, with 46 billion euros of sales and net income exceeding 6 billion euros.