LVMH adds Fendi and Loro Piana to remit of hotels boss Guerra

LVMH is expanding the remit of its head of hotels, Andrea Guerra, to include overseeing Italian fashion brands Fendi and Loro Piana from January, the French luxury conglomerate said on Friday. Guerra, 55, who became one of Italy’s best-known executives during a decade at the helm of eyewear giant Luxottica, joined LVMH earlier this year. Fendi Chief Executive Serge Brunschwig and Loro Piana boss Fabio d’Angelantonio will report to Guerra, who is also a member of LVMH’s executive committee.

LVMH countersues Tiffany in bid to drop $16 billion acquisition

LVMH countersued Tiffany & Co on Monday, arguing the iconic U.S. jeweler's financial mismanagement in the pandemic permits the French luxury goods giant to walk away from its proposed $16 billion (£12.46 billion) acquisition of the company. The move comes after Tiffany sued LVMH earlier this month, objecting to the Paris-based company's decision not to go through with the deal they signed in November because of a French government request and the impact of the coronavirus outbreak.

In row with Tiffany, LVMH may find that most sales are final

France's LVMH faces an uphill battle in walking away from its $16 billion(12.32 billion pounds) deal to buy U.S. jeweler Tiffany & Co, with legal experts noting most mergers which end up in court are renegotiated rather than dissolved.