LVMH scoops up Tiffany for $16.2 billion

Hong Kong (CNN Business)LVMH (LVMHF) and Tiffany & Co. (TIF) are finally getting together after weeks of anticipation. LVMH is the world’s biggest luxury group and home to 75 different brands, including Christian Dior and Bulgari. Analysts have been bullish on its latest deal, saying that Tiffany is a good acquisition target because of its strong global brand. “A takeover of Tiffany could make a lot of sense,” analysts at Bernstein wrote in a research note last month. While Tiffany is one of the world’s best-known luxury brands, analysts say it still has room to grow, particularly in jewelry and watches. And LVMH’s deep pockets could help Tiffany turn around after a rocky few years, and fuel its effort to …

Lee and Wrangler stock rises 4% after public debut

New York (CNN Business)The owner of Lee and Wrangler jeans looked like it was going to have a tough day as a separate company on the New York Stock Exchange on Thursday. “The jeanswear business at VF Corp. didn’t get the attention we thought they deserved,” Baxter said, adding that Kontoor Brands can now focus more on expanding in China, increasing digital distribution and creating new clothes for female consumers. Chinese expansion and women customers Baxter said that while Lee has about an equal number of men and women as customers, Wrangler is still viewed as more of a men’s brand, with only 15% of its sales coming from women’s jeans. He added that the company has hired a global …