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Were Diamond Companies Worth the Investment?
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What parameters would one use to assess a company’s performance? For our analysis, sales provide the best indication of how a business is doing. Taking that a step further, revenue generated across a group of companies within a sector...
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Research
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Jan 14, 2021
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Avi Krawitz
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LVMH Replaces Tiffany CEO as Deal Closes
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LVMH has shaken up Tiffany & Co.’s senior management after the French luxury group finally completed its acquisition of the iconic US jewelry brand.Anthony Ledru, previously executive vice president for global commercial activities...
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Retail
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Jan 07, 2021
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Rapaport News
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Tiffany Shareholders Back LVMH Takeover
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Tiffany & Co. investors approved LVMH’s $15.8 billion acquisition of the company at a special meeting on Wednesday, paving the way for the transaction to close early in the new year.Shareholders of the storied US jeweler voted “overwhelmingly”...
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Retail
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Dec 31, 2020
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Rapaport News
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Tiffany Profit Soars as China Recovers
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Tiffany & Co. reported a sharp jump in profit in the third fiscal quarter as sales in China surged and consumer spending shifted to higher-margin items.Net earnings rose 52% to $119 million in the three months ending October...
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Retail
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Nov 24, 2020
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Rapaport News
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LVMH Seals Tiffany Takeover at Lower Price
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Tiffany & Co. and LVMH have settled their public dispute, agreeing to a reduced price for their takeover deal after the French luxury group walked away last month. LVMH will pay $131.50...
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Retail
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Oct 29, 2020
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Rapaport News
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LVMH Jewelry and Watch Revenue Slides
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LVMH’s jewelry and watch sales declined in the third quarter, even as a recovery in China buoyed sales, the company said last week.Revenue for the category fell 14% to EUR 947 million ($1.11 billion) for...
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Retail
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Oct 18, 2020
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Rapaport News
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Tiffany Encouraged by 3Q Momentum
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Tiffany & Co. has witnessed a rebound in its operations during the third fiscal quarter, driven by growth in e-commerce sales and a strong recovery in China, the jeweler said Thursday.Operating earnings grew 25% year on year...
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Retail
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Oct 15, 2020
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Rapaport News
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The Importance of Being Tiffany
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There was a moment during the 2019 Academy Awards ceremony that made the jewelry world stop and gasp. Lady Gaga, who would later that evening collect the coveted Oscar for best...
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Retail
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Oct 12, 2020
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Avi Krawitz
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LVMH Claims Right to Exit Tiffany Deal
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LVMH has filed a countersuit against Tiffany & Co., claiming a legal right to pull out of the companies’ tie-up due to Covid-19 and the US jeweler’s “mismanagement” of the crisis.The pandemic constitutes a “material adverse effect” that...
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Retail
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Sep 29, 2020
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Rapaport News
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LVMH-Tiffany Trial Set for January
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A US court has approved Tiffany & Co.’s request to fast-track its lawsuit against LVMH, scheduling a four-day trial starting January 5, 2021.The timeline means a ruling would come after the final deadline for LVMH’s takeover...
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Retail
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Sep 22, 2020
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Rapaport News
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LVMH and Tiffany Lock Horns over Trial Timing
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LVMH has asked a court to delay Tiffany & Co.’s lawsuit against the luxury group, prompting the US jeweler to renew its allegations of foul play by its would-be acquirer. Tiffany had petitioned the Delaware Chancery...
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Retail
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Sep 17, 2020
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Rapaport News
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Tiffany Messed Up During Covid-19, LVMH Says
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LVMH plans to countersue Tiffany & Co. after the companies’ $16 billion marriage turned sour, accusing the US jeweler of management errors during the coronavirus.“[Tiffany’s] first-half results and its perspectives for 2020 are...
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Retail
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Sep 10, 2020
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Rapaport News
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LVMH Scraps Tiffany Deal; Tiffany Sues
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LVMH has abandoned its acquisition of Tiffany & Co., citing a trade dispute between the US and France and a disagreement over the timing of the deal.Tiffany has sued LVMH in response, claiming that the luxury...
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Retail
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Sep 09, 2020
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Rapaport News
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LVMH Revenue Dives as Tourism Dries Up
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LVMH, which owns Bulgari and Chaumet, saw sales of watches and jewelry slump in the first half of 2020 as the coronavirus reduced tourist spending and affected demand from wholesale customers.The category endured the...
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Retail
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Jul 28, 2020
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Rapaport News
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Baselworld Owner Creates New Trade Show
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Baselworld owner MCH Group has established Houruniverse, a new trade fair for the watch, jewelry and gemstone industries that will run virtually throughout the year and feature an annual live event.Buyers and...
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Polished Markets
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Jul 27, 2020
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Rapaport News
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LVMH Watch Chief Takes On Jewelry Portfolio
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LVMH has promoted Stéphane Bianchi to CEO of its watches and jewelry division, starting July 1. Since 2018, he has been CEO of watchmaking and of the French luxury group’s TAG Heuer timepiece brand.Bianchi will oversee...
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Retail
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Jun 08, 2020
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Rapaport News
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LVMH-Tiffany Deal Faces Uncertainty
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The LVMH board met on Tuesday to discuss its takeover of Tiffany & Co., fueling rumors that the $16.2 billion deal was less certain than before Covid-19.The panel of directors “focused its attention on the...
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Retail
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Jun 04, 2020
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Rapaport News
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LVMH Pulls Out of Baselworld
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LVMH has withdrawn its four watch and jewelry brands from the 2021 Baselworld show after several other industry heavyweights quit the event.Bulgari, TAG Heuer, Hublot and Zenith will instead take...
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Watches
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Apr 20, 2020
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Rapaport News
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Bulgari Endures First-Quarter Decline
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LVMH saw a slump in jewelry and watch sales in the first quarter as the COVID-19 pandemic led to the closure of most of its global stores.Revenue for the category fell 24% to EUR 792 million ($861.3 million)...
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Retail
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Apr 19, 2020
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Rapaport News
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Tiffany Gives $1M to Pandemic Relief Efforts
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Tiffany & Co. has donated $1 million to aid efforts to stem the spread of COVID-19, with a portion allocated toward providing essential medical supplies to New York.The jeweler will contribute $750,000 to the COVID-19 Solidarity Response...
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Retail
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Apr 07, 2020
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Rapaport News
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