The peachy hue also marks the program’s 25th anniversary.
Tiffany Shareholders Approve LVMH Deal
The French luxury titan will acquire Tiffany in a deal valued at $15.8 billion.
New York—Tiffany & Co. shareholders approved the jeweler’s impending acquisition by LVMH during a special meeting Dec. 30, as per a filing with the U.S. Securities and Exchange Commission.
The French luxury titan will acquire Tiffany in a deal valued at $15.8 billion, $425 million less than the initial price.
The companies agreed in October to modify the terms of their agreement, with LVMH purchasing Tiffany for less and easing the closing restrictions.
LVMH will now pay $131.50 per share for the jeweler, or $15.8 billion, down from the initially agreed upon $135 per share, which valued the deal at $16.2 billion.
The companies have also agreed to settle their ongoing legal disputes in the Delaware Chancery Court.
The two were set to head to court this month after LVMH had previously announced its intention to back out of the deal, citing closing date issues and a request from the French government.
In response, Tiffany filed a lawsuit in Delaware to force LVMH to move forward with the deal, claiming it had breached the merger agreement by dragging its feet on obtaining regulatory clearances and was just looking for excuses to get out of the acquisition.
LVMH then filed a lawsuit of its own, planning to challenge the way Tiffany’s management handled the COVID-19 crisis, noting that the company distributed “substantial dividends” when it was losing money and that its operation and organization are not “substantially intact.”
With legal battles in the rearview and shareholder approval secured, the deal is expected to close in early 2021.
Without the ability to instill confidence within the industry and directly to the consumer, a diamond holds very little value.
It provides a timeline for the implementation of new restrictions, but no details.
Sherry Smith breaks down the numbers on jewelry sales in November and reveals the category that “emerged as a standout.”
Additional lots will be offered in the Fine Jewels online sale through Dec. 7.
With holiday proposals right around the corner, encourage your customers to go for platinum when making the big purchase.
Peter Damian Arguello, the owner of Peter Damian Fine Jewelry & Antiques, was shot and killed in an apparent robbery last week.
The Indian jewelry giant has opened locations in Houston and Frisco, Texas.
Each student was provided with the full amount of tuition for the Namibia University of Science & Technology.
The watch seller’s new index tracks sales data from 14 brands, including Rolex and Patek Philippe.
The lab-grown diamond brand also collaborated with the website The Future Rocks on a collection launching today.
It’s the hero piece of the newest "Green Jewel" collection, a collaborative offering from the two mines.
Chris Cramer, who also spent time at Gen Z intimates brand Parade, will take on the dual role.
The retail offering lets customers track their diamond’s journey.
The Luele mine is expected to eventually make the country the world’s third-largest diamond producer.
From Thanksgiving through Cyber Monday, 200.4 million consumers shopped online and in stores.