Tiffany & Co. news and archive

Tiffany & Co being sued by Cartier over 'unfair competition'

Jewellery company Cartier said on Tuesday it had filed a complaint in a New York court against US rival Tiffany & Co for unfair competition. Senior managers at Tiffany & Co allegedly tried to obtain information in an "inappropriate" way on Cartier's activities in the United States through a former employee, it said in an email to AFP. The...

Fashion Featured

5 Brands launching Pride Collections with a Difference

June is the month of Pride and some brands are doing more than lip service and making inclusivity a priority. For the past several years, a plethora of brands from high street to sportswear to luxury, have unveiled collections and collaborations that directly benefit the LGBTQIA+ community, either through awareness or donating to relevant...

Business

Tiffany shareholders approve LVMH offer

After months of back and forth, legal complications, stalemates, a global pandemic, Tiffany & Co.’s shareholders approved a 15.8 billion dollar deal with luxury conglomerate LVMH. At a virtual stakeholder meeting, 99 percent of votes were cast in favor of the deal where LVMH would acquire Tiffany & Co. LVMH made an offer for Tiffany & Co. at the...

BusinessFeatured

Tiffany records increase in Q3 earnings as China sales improve 70 percent

Tiffany & Co. has said that in the third quarter, worldwide net sales returned to the billion dollar level and represented a decrease of 1 percent as compared to the prior year; on a constant-exchange-rate basis, worldwide net sales for the three months were 2 percent below the prior year. The company said, net earnings increased 52 percent to...

Business

LVMH, Tiffany finally seal merger at lower price

French luxury giant LVMH and US jeweller Tiffany buried the hatchet in their bitter takeover battle on Thursday, agreeing to lower the price of the merger so that it can finally go ahead. Tiffany agreed to accept a lower price from LVMH in order to seal a deal that had been closed to collapsing, the French group said in a statement. “LVMH, the...

Business

Merger gone awry: LVMH and Tiffany are suing each other

In November 2019 LVMH announced it was to buy American jeweller Tiffany in an unprecedented 16 billion dollar deal. The following month, the onset of the coronavirus pandemic would change the course of the retail and luxury industry, so too company valuations, and mergers and acquisitions for the unforeseeable future. Nearly one year has passed...

Business

LVMH hits Tiffany with a countersuit

French behemoth LVMH said Tuesday that it had filed a countersuit against the American jewellery brand Tiffany, setting up an unusual legal fight after the collapse of one of the biggest luxury takeover bids in decades. LVMH walked away from its 16.2 billion dollar offer this month after claiming a series of poor decisions by Tiffany's board...

Business

Tiffany wins court approval to fast-track lawsuit against LVMH

US jewelry brand Tiffany & Co has won approval by the Delaware Chancery Court to have its lawsuit against french conglomerate LVMH fast-tracked. The lawsuit was launched by the jeweler after LVMH said in September it was pulling out of its 16 billion dollar deal to acquire Tiffany. LVMH said its board had made the decision following “a...

Business

Tiffany responds to LVMH opposition, wants to expedite lawsuit

Tiffany is fighting back against LVMH, after the conglomerate pulled out of its acquisition deal earlier this month. The luxury jewelry brand filed a lawsuit against LVMH, to which the latter threatened to countersue. Now Tiffany is pushing back, once again. LVMH filed an opposition in Delaware Chancery Court, against Tiffany's request to...

BusinessFeatured

Tiffany sees sales improvement in Q2, gains profit

For the second quarter, Tiffany & Co. returned to profitability and saw sequential improvements in monthly worldwide net sales from May to July. Worldwide net sales declined 29 percent from the prior year to 747 million dollars and comparable sales declined 24 percent from the prior year; on a constant-exchange-rate basis, worldwide net sales...

Business

LVMH and Tiffany delay acquisition deal by three months

French luxury giant LVMH and US jewelry brand Tiffany & Co have reportedly delayed the deadline for their acquisition deal by three months. The 16.2 billion dollar deal is now set to close in November after it failed to close on 24 August, the date set out in the documents of the deal, Reuters reports, citing sources familiar with the matter....

Retail

Tiffany & Co reveals renovation plans for Fifth Avenue flagship

Tiffany & Co is updating its iconic Fifth Avenue flagship. The jewelry retailer has unveiled plans to add a glass addition atop the store. The top three floors of the 10-story building, located at 727 Fifth Avenue, will be renovated from the office space that was originally constructed in 1980, into a new space for exhibition, event and...