Business Tiffany sues LVMH for reneging on $16 billion deal Updated : September 10, 2020 08:27 AM IST The luxury industry is facing an unprecedented sales slump as a result of the pandemic, after a decade of stellar growth, with revenues expected to fall by as much as 35 percent this year. It will take until 2022-23 for revenues to return to 2019 levels, according to consultancy Bain. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.