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revenues of nearly 47000000000 euros last year most of it from its leather in fashion division with brands like louis vitol and the your it s luxury department store holdings are nearly as big tiffany will fit into its watches and jewelry division currently one of its smaller units although they may continue to grow organically i mean these are hoping the brand. new way to keep on growing is of course to acquire and significant company. the mh says acquiring tiffany will transform its jewelry business and strengthen its presence in the united states as luxury shoppers in asia are hit by the global slowdown. and for more on this let s go now to our financial correspondent and new york ian s korda yens a 182 year history as
richest man ben nod. its fashion division includes prestigious browns like to have the total christian deal and can zone on its watches and jewelry division comprises bulgari and tag hoyer. is also represented in wines and spirits by boeing and is also active in the hotel business the $16200000000.00 deal will be the biggest acquisition today a luxury brand as american as skyscrapers now to be taken over by l b m h a luxury group so european that most people have trouble pronouncing its full name u.s. jeweler tiffany is one of america s few luxury brands it s a bit old fashion and is looking to gain some credibility with a new generation of customers. paris based l d and h. believes it is just the owner to manage the transformation it owns