A PYMNTS Company

South Korea Approves LVMH-Tiffany Merger

 |  June 24, 2020

The Korea Fair Trade Commission (KFTC) Wednesday, June 24, announced its approval of the merger between LVMH-Moet Hennessy Louis Vuitton and Tiffany here, after saying the French luxury giant’s stock purchase of the US jewelry brand does not restrict competition in the local market, reported The Korean Times

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Last November 24, LVMH signed a contract to purchase a full stake in Tiffany and reported their business combination to the antitrust watchdog in March. 

    The KFTC has been mainly reviewing if the M&A of the two firms will prevent any other players from entering the global high-end jewelry market where their businesses overlap. It concluded that the merger does not restrict competition in the related market and approved the deal as of June 12. 

    “There are many brands competing in the global high-end jewelry market including those owned by Chinese companies,” a KFTC official said. “Thus, we have concluded that the merger of LVMH and Tiffany will not increase the market concentration here. We also took consideration of prominent competitors in the market including Cartier, Van Cleef & Arpels and Boucheron.”

    So far, antitrust watchdogs in the United States, Australia, Canada, and Russia have also approved the merger of LVMH and Tiffany while those of Europe, China, Japan, Taiwan, and Mexico are still reviewing the deal. 

    Full Content: Korea Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.