French luxury goods group LVMH has a some shiny new jewelry. The Paris-based company behind Bulgari rings, Marc Jacobs shoes, Dior perfume, Zenith watches, Rihanna’s make-up line, and around 70 other luxury brands just bought Tiffany & Co. for $16.2 billion.
The deal, LVMH’s largest to date, doubles its existing watch and jewelry business, and bolsters its position as the world’s largest diversified luxury group, covering well-heeled shoppers from head-to-toe.
The company’s portfolio of brands also extends well beyond fashion, with a constellation of companies offering luxuries from champagne to resort vacations, upscale department stores, and custom-built yachts.
Correction: An earlier version of this story noted that Givenchy was acquired in 1986 as part of a deal for Veuve Clicquot. Givenchy Parfums was included in that transaction, but Givenchy Couture Group wasn’t purchased by LVMH until 1988.