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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 to Sell Its Most Expensive Diamond
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Tiffany & Co. will offer a necklace featuring an 80-carat diamond, expected to be its most expensive piece ever, at the reopening of its New York Fifth Avenue flagship store next year.The oval-cut, D-color, internally flawless...
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Polished Markets
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Jan 06, 2021
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Rapaport News
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Tiffany Holiday Sales Reach All-Time High
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Sales at Tiffany & Co. rose 2% during the holiday season as the US jeweler benefited from sharp growth in China and a surge in online demand.Revenue in the Asia-Pacific region jumped 20% year on year in November and December,...
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Retail
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Jan 06, 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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Jewelers ‘Failing to Prevent Rights Abuses’
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Human Rights Watch (HRW) has called for mandatory sourcing rules for the jewelry industry and urged retailers to name their suppliers, claiming the sector is not doing enough to combat abuses.“Many jewelry companies...
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Retail
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Nov 25, 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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Ex-Tiffany Exec Joins Watches of Switzerland
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Watches of Switzerland has hired Kelly Yoch as director of client relations, a new position for the company, it said Monday.Yoch, who was most recently the senior North American consultant for Patek Philippe watches at Tiffany...
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Retail
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Nov 03, 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 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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Tiffany to Track Diamonds Down to the Mine
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Tiffany & Co. plans to achieve 100% traceability of diamonds and precious metals in the coming years as part of a sustainability pledge it released this week.The retailer aims to track all diamonds weighing 0.18 carats or more to the...
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Retail
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Sep 24, 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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Tiffany Sees Glimmer of Hope as Profit Slumps
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Tiffany & Co. reported a sharp decline in profit in the second fiscal quarter but noted sales have returned to pre-pandemic levels in August. “Our global sales trends have strengthened in August, with preliminary month-to-date worldwide...
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Retail
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Aug 27, 2020
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Rapaport News
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Tiffany to Share Full Provenance of Its Diamonds
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Tiffany & Co. will give consumers full details of each diamond’s route from mine to jewelry, encompassing the rough’s origin as well as the locations of cutting, grading and setting.Beginning in October, the US retailer will share...
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Retail
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Aug 19, 2020
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Rapaport News
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Appeals Court Backs Costco in $21M Tiffany Case
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A US court overturned a $21 million judgment previously awarded to Tiffany & Co. in its ongoing case against Costco Wholesale Corporation over use of the jeweler’s name to describe generic engagement rings.A lower-court judge erred in finding...
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Retail
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Aug 18, 2020
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Rapaport News
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Tiffany Ranked Among ‘Hot 100’ Retailers
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Tiffany & Co. has retained a spot on the National Retail Federation’s (NRF) list of the fastest-growing US retailers.The New York-based company came in at number 95, the only jewelry specialist to make the cut this year,...
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Retail
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Aug 12, 2020
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Rapaport News
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Tiffany Sees ‘Robust Recovery’ in China
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Tiffany & Co. reported a strong rebound in its operations in mainland China during April and May, after Covid-19 lockdowns resulted in heavy first-quarter losses for the jeweler. “While sales in key markets like the...
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Retail
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Jun 09, 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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