GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
LVMH, the parent company of Louis Vuitton, Dior, and Tiffany & Co., is buying Platinum Invest jewelry maker, and this was announced late last week. It will acquire a majority stake in the French company, which also owns Abysse and Orest jewelry manufacturers.
The financial terms of the deal were not revealed, but LVMH is closing the deal to acquire Platinum Invest from Andera Partners, Bpifrance, and other shareholders. It was said that the company is making this move to boost the production of its own Tiffany & Co. jewelry brand.
As per Reuters, with the addition of Platinum Invest in LVMH’s assets, Tiffany & Co. will be able to scale up the production of fine and high-end jewelry pieces. Platinum Invest is a great buy as it also operates five workshops in the eastern part of France and currently has 800 employees.
While Louis Vuitton’s parent company is buying Platinum Invest, the latter may still continue to make pieces of jewelry for its existing clients and other brands that LVMH owns, such as Bulgari and Chaumet. At any rate, LVMH acquired Tiffany & Co. in 2021 for $16 billion. The plan is to boost its sales by expanding its store network and adding new products where Platinum Invest will be of big help.
"These expert teams will leverage their skills to bring to life exceptional jewelry creations from the Tiffany & Co. design studio in New York," Fashion Network quoted LVMH as saying in a statement regarding the acquisition of Platinum Invest.
It further stated, "In addition to creating exceptional jewelry for Tiffany & Co, the workshops will continue to develop products for their existing customers, as well as for other jewelry houses within the LVMH group.”
Anthony Ledru, Tiffany & Co’s president and chief executive officer, added, “The acquisition of Platinum Invest represents a significant milestone for our company and will allow us to strengthen our commitment to the highest level of quality while expanding our production capacity to meet the growing demands of our customers."
Meanwhile, LVMH’s deal to acquire Platinum Invest is still subject to customary regulatory approvals but is expected to close by the end of summer this year.
