|Bid||130.88 x 1300|
|Ask||134.49 x 2200|
|Day's Range||134.09 - 134.25|
|52 Week Range||78.60 - 134.25|
|Beta (5Y Monthly)||1.65|
|PE Ratio (TTM)||29.96|
|Forward Dividend & Yield||2.32 (1.73%)|
|Ex-Dividend Date||Dec 17, 2019|
|1y Target Est||N/A|
(Bloomberg Opinion) -- If you have to ask the price, you can’t afford it. No wonder Bernard Arnault, France’s richest man, isn’t disclosing the details of LVMH Moet Hennessy Louis Vuitton SE’s deal to carve up the second-biggest diamond ever recorded in the history books.On Thursday, Lucara Diamond Corp. said it had entered into a collaboration with LVMH that will see the 1,758-carat Sewelo diamond, which is roughly the size of a tennis ball, turned into Louis Vuitton jewelry. The stone’s name means “rare find.” LVMH is probably one of the few luxury groups that could pull off such a coup.But this is no vanity project. It comes hard on the heels of LVMH’s close to $16 billion purchase of Tiffany & Co., the go-to destination for engagement rings wrapped in that iconic little blue box. If that indicated the French company’s intent in jewelry, this leaves no doubt.It’s not yet clear how exactly the rough diamond will be used. Louis Vuitton has been expanding in fine jewelry, and with its Maison Vendome flagship store has a dedicated space for the category with its own entrance on the Place Vendome, the epicenter of Paris jewelry retailing. The group’s other jewelry houses include Bulgari, Fred, Chaumet, and the soon-to-be-added Tiffany. Christian Dior, meanwhile, has the potential to sell lots of pricey adornments to its fashionista fans.However it eventually polishes up, the Sewelo will be part of the classic luxury playbook. LVMH will likely create several extremely high-end pieces to establish a sense of exclusivity. While only a small number of customers may be wealthy enough to purchase these, many more will be able snap up Tiffany bangles or Louis Vuitton rings. LVMH is counting on the stone to encourage these purchases, too. It’s the diamond-encrusted equivalent of sending extravagant creations down the catwalk to sell trunk loads of Louis Vuitton’s popular Neverfull bags, which sell for about 1,000 pounds ($1,307).Even taking this strategy into account, it’s likely that LVMH will seek to take Tiffany upmarket. There’s scope to increase its margins by jettisoning lower-price products and selling more high-end pieces. The allure of the Sewelo will help in this process, too.The luxury jewelry market is growing strongly, with particular demand for items boasting a designer label. Bain & Co. estimates that excluding currency fluctuations, sales rose 9% in 2019, in contrast to watches, where sales fell 2%. Timepieces have been hurt not only by the unrest in Hong Kong but by the segment’s continued disruption by smart and connected watches. Jewelry faces no such technological shifts. So there’s plenty of room for LVMH to expand.A more muscular rival is a worry for companies including Richemont, which owns Van Cleef & Arpels and Cartier, as well as Swatch Group AG, which owns Harry Winston. It could also make it harder for LVMH’s French archrival Kering SA, which also has scope to sell more jewels, to do so. Luca Solca, analyst at Bernstein, has suggested that a merger between Richemont and Kering would be a formidable response.LVMH’s Sewelo gem gambit is not without some potential pitfalls. At the moment it is a rough stone, whose outer surface is still covered in a layer of carbon. It’s not yet clear what kind or quality of polished gem it will reveal. Lucara Diamond previously said it may not deliver the highest standard.Whatever emerges, the stone’s size alone will make for an interesting story for LVMH’s marketing team. And with the group being at the cutting edge of fashion, it may be bolder and more creative than a diamond dealer, whose primary concern is usually how many carats can be secured in order to maximize the sale price. Add in the halo effect around the jewelry maisons — the Sewelo will be shown to clients and press at the Paris couture shows next week before embarking on a world tour — and there’s even less of a risk.So even if the Sewelo doesn’t turn out to be as much of a sparkler as hoped, it will still help LVMH sell plenty of other baubles.To contact the author of this story: Andrea Felsted at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Rating Action: Moody's affirms eight classes of MSBAM 2016- C30. Global Credit Research- 16 Jan 2020. Approximately $681 million of structured securities affected.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Wealthy bargain hunters should be wary of getting married in New York, hiring lawyers in Hong Kong or buying fine wines in Rio de Janeiro.That’s according to research from Julius Baer Group Ltd., which broke out the world’s most expensive cities for a variety of luxury goods and services -- from houses to whisky to handbags. High local tax rates make Rio de Janeiro -- Brazil’s second-largest city -- the world’s most expensive metropolis in five of 18 categories in the Swiss bank’s “Global Wealth and Lifestyle Report 2020.”New York ranked as priciest place to lay on a 400-person wedding banquet or hire a personal trainer, while London took top spot for the laser eye surgery that clears blurry vision. Still, Hong Kong is the world’s most expensive city overall, with the former British colony cited frequently in the top 10 priciest municipalities for categories such as fine dining, hotel suites and luxury cars.The report released Thursday underscores the growing scope of opulence among the world’s wealthy as tensions mount in some nations over the divide between the rich and everyone else. Widening inequality in Hong Kong, fueled by low taxes, has helped incite the city’s worst unrest since it returned to Chinese rule in 1997. There has also been unrest in parts of Latin America and Europe over rising living costs.The idea of luxury “once stood for fancy goods, such as handbags or sports cars,” Nicolas de Skowronski, head of wealth management solutions at Julius Baer, said in the report. “Now it has morphed into a broad category that includes services and experiences, from fine dining to new lifestyle trends such as wellness.”While Hong Kong may drop in future rankings after months of protests take their toll on the economy, other Asian cities are well represented in the firm’s ranking of most expensive, including Shanghai, Tokyo, Singapore, Taipei and Bangkok all in the top half. That section also included Los Angeles and Miami -- the only other U.S. cities listed in the report -- although neither rank top for individual categories of how the wealthy splash their cash.(Updates with New York details in third paragraph.)To contact the reporters on this story: Ben Stupples in London at firstname.lastname@example.org;Akshat Rathi in London at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Peter Eichenbaum, Steven CrabillFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
In the "annual investor letter for 2019" published Monday, Citron Capital LLC managing partner Andrew Left named his top picks for long and short ideas for the year 2020. RH Headed For Acquisition ...
According to one top luxury executive, the sector can’t sustain its current rate of growth — and might need to consolidate further.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bearish calls included electric vehicle and coffee shop giants. Other geopolitical issues remained, including concerns about Brexit, but the Dow Jones industrials and the S&P 500 ended the week essentially flat, while the Nasdaq saw a fractional gain.
Warren Buffett isn’t looking to add something shiny to his portfolio, and Pauline Brown has an idea why.
Despite sitting on $128 billion in cash, Warren Buffett reportedly passed on an offer to buy Tiffany, which LVMH then bought in a blockbuster deal.
Billionaire investor Warren Buffett and his Berkshire Hathaway Inc. (NYSE: BRK-A ) (NYSE: BRK-B ) turned down an opportunity to put some of its $128 billion in cash to use and buy jewelry company Tiffany ...
U.S. holiday shoppers spent 19% more on their online shopping this year than they did a year ago, according to data from Mastercard SpendingPulse.
Hedge funds and other investment firms that we track manage billions of dollars of their wealthy clients' money, and needless to say, they are painstakingly thorough when analyzing where to invest this money, as their own wealth also depends on it. Regardless of the various methods used by elite investors like David Tepper and David […]
Last year, holiday sales in Asia-Pacific and the Americas fell 3% and 1% respectively, which Chief Executive Officer Alessandro Bogliolo attributed to a slowdown in tourism and softening demand among locals in its home market. "We continued to see the Chinese Mainland drive our overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan," Bogliolo said on Thursday. "We are happy to see sales growth in the Americas, a momentum shift in the region," he added.
Tiffany & Co. announced preliminary sales for the holiday period on Thursday, reporting 1% to 3% growth year-over-year. "During this period, we continued to see the Chinese mainland drive overall sales growth with a strong double-digit increase, offset by the persisting declines in the Hong Kong market and, to a lesser degree, Japan, which we believe continues to be negatively impacted by the recent increase in the consumption tax," said Alessandro Bogliolo, Tiffany's chief executive, in a statement. Sales were up 2% to 4% in the Americas, Europe was up 3% to 5%, Asia Pacific was up 5% to 7%, and Japan was down 9% to 11%. Tiffany's New York City flagship will close mid-January 2020 for renovations. During that period it will move next door. In November, LVMH Moet Hennessy Louis Vuitton SE announced it had purchased Tiffany in a $16.2 billion deal. Tiffany will announce fourth-quarter earnings on March 20, 2020. Tiffany & Co. shares are up 71.7% for the past year, LVMH stock is up 69%, and the S&P 500 index is up 30.6% for the period.
(Bloomberg Opinion) -- On Oct. 6, 2010 — the first year of the decade now drawing to a close — the following headline appeared above a modest 445-word article on a tech-industry website: “Instagram Launches With the Hope of Igniting Communication Through Images.”It’s an almost comically quaint description of exactly what the company has done over the past nine years. On its way to amassing more than a billion users, Instagram has become many things: a joyful storehouse of family photos, a sledgehammer for celebrity tabloid culture, a shadowy abyss of teen bullying. Oh, and it has also become the most powerful force in shaping commerce this side of Amazon.com Inc.The smartphone app has notably served as a platform for new forms of consumer marketing. But its influence on spending is far more profound. Because everyone now lives their lives on camera, Instagram has played a crucial role in altering both the look and nature of products people buy and the physical spaces where they shop.Certain items were elevated to the must-have list this decade because they were shareable — that is, they photographed especially well or had a flair of whimsy that racked up the likes and comments. So the Ugly Christmas Sweater went from ironic joke to something Walmart Inc. had to stock in droves, while matching family pajamas invaded department stores.Product designers and merchants have gotten wise to this dynamic and have responded in kind. They brought shoppers pool floats shaped like swans and floppy sun hats with cursive kiss-offs like “Do Not Disturb.” They served up eye-catching rainbow bagels, Unicorn Frappuccinos and latte art. They scored with kids’ games such as Pie Face that were perfect for video snippets.“Bride Tribe” tank tops. Mermaid toast. “Live Laugh Love” wall art. It is doubtful any of these things would even exist if not for Instagram.In some cases, whole product categories have benefited from the photo-centric world that Instagram has created. The beauty business had several booming years this decade, powered by trends such as contouring and strobing that made women feel duck-face-ready. Sales of houseplants skyrocketed as Millennials outfitted their homes with fiddle-leaf figs that lent an artful flourish to photos.And then there are the stores themselves — if that’s still the correct term in the Instagram era. Retailers have created spaces that are alluring sets for photos, such as Tiffany & Co.’s addition of a robin’s-egg blue café to its Manhattan flagship and Canada Goose’s “cold room” sprinkled with real snow. Concepts like Museum of Ice Cream and Rosé Mansion aren’t so much stores as gallery-museum-commerce crossbreeds built on the back of Instagram.Meanwhile, restaurateurs have adapted the lighting in their dining rooms to be conducive to photos, knowing diners’ pictures are among their most powerful marketing tools. Splashy lettering, loud wallpaper, neon signs — these have become the default aesthetic of eateries looking to nab a spot in Instagram feeds.Restaurants are just one component of the so-called “experience economy,” a broader category of consumer spending that has been utterly upended by Instagram. The vacation-photo arms race has led to certain picturesque landmarks being choked by visitors and public lands being degraded. Hotels are also being forced to adapt. Industry giant Marriott International Inc., for example, debuted in 2014 a chain called the Moxy, where guests can opt to have their tiny rooms festooned with photo-friendly inflatable flamingos.Perhaps Instagram’s most peculiar commercial influence has been its role in creating entirely new spending occasions, particularly around life milestones. Maternity photo shoots have become commonplace; so have birth and newborn photo shoots. Same for “Trash the dress” and home-buying photo shoots. Some of these rituals started becoming trendy before Instagram’s rise, but it is the app that has cemented them as an ordinary thing to drop hundreds (or thousands) of dollars on.Relatedly, there now exists a weird species of consumer goods that no one needed before they revealed big news via a visual medium. Search Etsy for “pregnancy announcement props,” and you’ll find thousands of items: chalkboard-style signs, pacifiers and dog outfits emblazoned with baby announcements. You’ll find similar props to herald engagements, gender reveals and birthdays by photo.All of this is before contemplating what an essential tool Instagram has become for brand advertising. So-called influencers — a class that includes both Hollywood actresses and suburban moms with fewer than 10,000 followers — have perfected the art of hawking everything from fashion to protein drinks to tampons to credit-card rewards programs to their audiences in exchange for fees or free gear.In a $600 million testament to Instagram’s power as a marketing platform, beauty industry giant Coty Inc. took a majority stake this year in Kylie Cosmetics, the makeup brand that Kardashian clan member Kylie Jenner had made a hot seller largely thanks to clever promotion on the app. Fast-growing digital upstarts such as Fashion Nova and Revolve Clothing provide additional powerful examples of Instagram’s ability to put a brand on the map. Instagram’s impact on shopping in the 2010s isn’t as easily quantified as that of Amazon. The online retailer’s transformative role can be seen in its estimated 38% share of the U.S. e-commerce market, a market value that briefly touched $1 trillion and CEO Jeff Bezos’s No. 1 or No. 2 spot on Bloomberg’s Billionaire’s Index.What Instagram did is change consumer culture. It turned shoppers into a performative swarm of shutterbugs presenting Clarendon-filtered (or maybe Juno-filtered?) versions of themselves and their surroundings to their followers. It changed not only how things are bought and sold, but why. When period-piece movies are someday made about the 2010s, the aesthetics used to evoke this decade— all-white kitchens, neon-colored foods, major sleeves — will be the ones that sparkled in Instagram’s onscreen world. Real life never looked quite so glossy.To contact the author of this story: Sarah Halzack at email@example.comTo contact the editor responsible for this story: Michael Newman at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Halzack is a Bloomberg Opinion columnist covering the consumer and retail industries. She was previously a national retail reporter for the Washington Post.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Tiffany & Co. will move out of its longtime home in the Bellevue on South Broad Street and into space once occupied by Zara on Walnut Street in Center City. The building totals 18,000 square feet over two floors and Tiffany will take just the ground floor space totaling 4,121 square feet. It had been in 12,000 square feet on multiple floors at the Bellevue.
Warren Buffett reportedly turned down a previous chance to buy Tiffany and Co., according to The Financial Times. Former LVMH North America Chair Pauline Brown weighs in on the report with Yahoo Finance's Zack Guzman & Heidi Chung on YFi PM.
The holidays are here and love is in the air. According to a report from Statista, December the most popular month to get engaged last year. ALTR Created Diamonds Founder & President Amish Shah joins Yahoo Finance’s On The Move panel to discuss the lab grown diamond trend.
It use to be that investing in big ticket items like classic cars was reserved for just the wealthy, but times are a changing thanks in part to Rally Rd. a platform that enables investors to own rare commodities like cars, sneakers and other luxury investments. Rally Road Co-Founder Rob Petrozzo joins Yahoo Finance’s Adam Shapiro, Julie Hyman and Brian Sozzi and BNY Mellon Chief Strategist Alicia Levine to discuss the company's business model and its plans for the future.