The news comes following the announcement that LVMH will not be going through with the purchase of iconic jewellery brand Tiffany & Co.
A Delaware judge has declared that the pair will go to trial in early January 2021 after a successful attempt from Tiffany & Co. to fast track legal-proceedings so as to not accept a lower price or lose the deal all together.
LVMH was set to acquire Tiffany & Co. in November for a sum of $16bn but has since pulled out of the deal, declaring that the adverse impact of the pandemic has had a material effect on the jewellery retailer’s store sales and a request from France’s Foreign Affairs Ministry to delay the closing deadline.
Following the news that LVMH will not be closing the deal, Tiffany immediately sued the retail group earlier this month and is pleased with the news of the court date being set.
