Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
MajorsSep 23, 2020
Tiffany, LVMH Trial Set for January
A judge granted Tiffany’s request to expedite legal proceedings after LVMH announced it wanted to back out of its pending acquisition of the jeweler.
A Tiffany & Co. “Soleste” round engagement ring in platinum with diamonds. Tiffany and LVMH will head to court in January after LVMH announced its intention to back out of the companies’ $16.2 billion acquisition deal.
New York—Tiffany & Co. and LVMH will head to court in January after a judge approved the jeweler’s request to expedite the legal proceedings surrounding a potential acquisition.
LVMH announced its intentions to back out of the $16.2 billion deal earlier this month, citing closing date issues and a request from the French government.
In response, Tiffany & Co. filed a lawsuit in Delaware to force the French luxury giant 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 deal.
Tiffany asked the Court of Chancery in Delaware to fast-track the proceedings because it wanted a ruling before the Nov. 24 deadline for closing the acquisition.
RELATED CONTENT: Tiffany-LVMH Deal May Be Saved, Say Analysts
The Jan. 5, 2021 court date is after the “drop-dead” date for the merger, but would be before antitrust approvals start to expire.
LVMH had asked for the trial to start in March or April of next year.
It argued there was no reason to speed up the case and that the company would need six to seven months’ time to properly prepare.
In a court filing, LVMH said: “Tiffany offers no reason why this court should move mountains and conduct a full-blown trial involving complex facts and international discovery in less than two months amidst a global pandemic.”
LVMH accused Tiffany of trying to fast-track the proceedings to avoid a deeper look into its management of the COVID-19 pandemic.
The luxury conglomerate said in a previous statement announcing its plans to file a lawsuit that it would be challenging 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.”
In response to claims of mismanagement, Tiffany CEO Alessandro Bogliolo said: “We have already returned to profitability and expect to remain profitable for the balance of the year, with fourth-quarter profits actually exceeding those of the fourth quarter of 2019.”
Tiffany said LVMH was trying to run out the clock and prevent the acquisition from going through.
Reports that the deal was on the rocks first arose in June, as civil unrest in the United States and the COVID-19 pandemic were troubling LVMH’s board.
Tiffany Chairman Roger Farah said, “We will demonstrate to the court that LVMH is in clear
breach of its obligations under a valid and binding agreement and that their claim of a material adverse effect is completely baseless. Tiffany has acted in good faith in full compliance with the merger agreement and will continue to do so.”
LVMH said it is “fully confident that it will be able to defeat Tiffany's accusations and convince the court that the conditions necessary for the acquisition of Tiffany are no longer met.”
LVMH said it is “fully confident that it will be able to defeat Tiffany's accusations and convince the court that the conditions necessary for the acquisition of Tiffany are no longer met.”
More on Majors
The Latest
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
FinancialsJul 16, 2025
Richemont’s Jewelry Sales Up 7% in Q1It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
