Tiffany Put LVMH In Arms, And Bvlgari'S Founding Family Member Trapani Retired.

In November 25th, the French luxury goods giant LVMH group announced the final agreement with the US luxury jewelry brand Tiffany (Tiffany). The LVMH group will officially buy Tiffany at a full cash price of $16 billion 200 million.

Shortly after the agreement was reached, one of Tiffany's board members, Francesco Trapani, the family heir of Italy luxury jewelry brand Bulgari (Bvlgari) and former chief executive, resigned from the board of directors of Tiffany.

According to a statement issued by the securities and Exchange Commission, Francesco Trapani, a board member of Tiffany, has submitted her resignation in November 26th. Trapani claims that his decision is not due to differences in "Tiffany's operations, policies, procedures" and other related matters, but rather personal reasons, in order to "find other opportunities".

In February 2017, Francesco Trapani combined with New York hedge fund Jana Partners bought about 5.1% of Tiffany's stake. Francesco Trapani was appointed Tiffany board member, while helping Tiffany find CEO candidates. In July of that year, Tiffany appointed the former Bvlgari executive and Italians Alessandro Bogliolo as the brand new CEO. It is reported that Tiffany chose Alessandro Bogliolo, which was promoted by Trapani.

Francesco Trapani and New York hedge fund Jana Partners's investment Tiffany got a good return: in February 2017, when they jointly acquired Tiffany's 5.1% stake, Tiffany's share price was $80-90, while LVMH's offer was $135 per share, an increase of 50% to 70% over that time.

Francesco Trapani was born in 1957. It is one of the founding members of Italy luxury brand Bvlgari. It took over Bvlgari in 1984 and developed Bvlgari Hotels with Marriott International in 2001. In 1995, Trapani led Bvlgari to list on the Milan stock exchange.

In early 2011, he led Bvlgari into LVMH group trading, then joined LVMH, in charge of watches and jewelry business. In 2014, Trapani left the LVMH group and went to Clessidra, a private equity fund in Italy, to become a senior partner.

In July 2017, Francesco Trapani acquired the Foodation 53% stake of Italy leisure food chain brand operator and entered the catering industry formally.

In November 11, 2019, Trapani and Marco Taricco and Giuseppe Bivona jointly established a hedge fund called Bluebell Active Equity Fund, which manages 50 million euros, focusing on European enterprises with market capitalization ranging from 2 billion to 15 billion euros.