Tiffany&co news and archive

CFDA and Tiffany & Co. launch new jewellery design award

The Council of Fashion Designers of America (CFDA) and luxury jewellery brand Tiffany & Co. have teamed up to launch a new award for jewellery design talent. The Tiffany & Co. x CFDA Jewelry Designer Award aims to spotlight jewellery designers in the US who are ‘committed to driving inclusivity within the design industry’. Selected participants...

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

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

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....

People

Tiffany & Co exec board member Francesco Trapani steps down

Tiffany & Co executive board member Francesco Trapani has exited the luxury jeweler just a week after it was acquired for 16.2 billion dollars by luxury conglomerate LVMH. According to a SEC filing, Trapani’s decision to resign was “not the result of any disagreement with Registrant’s operations, policies or procedures or any matter related to...

Business

LVMH is closer than ever to own Tiffany & Co. after upping bid to 16.7 billion dollars

New York – LVMH is reportedly closer than ever to owning Tiffany & Co. after increasing its takeover offer to 16.7 billion dollars. The world’s largest luxury goods group would have reached a deal to buy Tiffany & Co. at 135 dollars a share, or 16.7 billion dollars, according to sources familiar with the matter cited by the CNBC. In the same...

Fashion

Tiffany & Co and Outset present Studiomakers Prize to MA Fine Art graduates

Outset Contemporary Art Fund has launched a three-year partnership with Tiffany & Co., which will make seven rent-free studios in London available to outstanding MA Fine Art graduates from the capital’s finest art colleges. The Tiffany & Co. x Outset Studiomakers Prize provides 12-month rent-free studio space to seven graduates from London’s...

BusinessFeatured

Luxury brands take another swing at the Chinese market, says Tiffany CEO

After a bumpy few years, luxury brands are re-committing to China's market as a weaker yuan and the US trade war funnel more Chinese high-end spending, Tiffany & Co CEO Alessandro Bogliolo said in an interview. China's luxury market has been on a roller-coaster since President Xi Jinping launched an anti-corruption campaign in 2012 that curbed...

Apparel

Tiffany’s Q2 results in line with expectations

Tiffany & Co reported its financial results for the second quarter ended July 31, 2012 and also announced that the results were in line with company’s expectations. During the three months of second quarter, company’s net earnings rose 2 percent to 92 million dollars (Rs 512 crores) or 0.72 dollars (Rs 40) per diluted share as compared to 90...

Apparel

Tiffany’s Q1 worldwide net sales jumps up 8%

Reporting the first quarter financial results that ended April 30, 2012, Tiffany stated that its worldwide net sales soared by 8 per cent to $819 million (Rs 4,609.38 crores), while comparable sales increased by 4 per cent. The net earnings with an increase of 1 per cent went to $0.64 (Rs 36.01)per diluted share or $82 million (Rs 4,61.50...

Apparel

Tiffany & Co: Eyeing India entry

Iconic US jeweller Tiffany & Co is venturing into India through a 51 per cent joint venture with actress-turned-luxury entrepreneur Reena Wadhwa. They will float a separate venture to market Tiffany’s business. Wadhwa, wife of investment banker and Ambit Group CEO Ashok Wadhwa also has a joint venture with Italian luxury brand Gucci. Tiffany &...

Fashion

Tiffany’s 3Q sales jumps 21%

Tiffany & Co. said Tuesday its fiscal third quarter profit rose 63 percent on strong sales globally, mainly in Asia. However, good news did not reach the stock market as their forecast for fourth quarter fell below expectations. Consequently , its shares plumbed $4.82, or 6.6 percent, to $68.80 in premarket trading. The New York company's net...