![Closed Tiffany store in China because of the coronavirus (Covid-19). Image credit: Shutterstock](https://cache.luxurydaily.com/wp-content/uploads/2020/02/Tiffany-in-China.png)
French luxury conglomerate LVMH’s updated deal to buy Tiffany & Co. at the reduced price of $15.8 billion is being met with enthusiasm as industry experts say it suggests CEO Bernard Arnault is seeing tepid signs of recovery in the wider luxury market.