Luxury company makes bid to take over Tiffany & Co.

The owner of luxury brands such as Louis Vuitton and Givenchy has made a bid to take over the iconic jeweler, Tiffany & Co.

LVMH is offering a $14.5 billion in an effort to add the crown jewel to its collection.

The group has approached the New York-based Tiffany with the takeover proposal.

Tiffany has struggled lately with sales, and is reportedly evaluating the all-cash bid.