Are Tiffany & Co. and Elsa Peretti calling it quits?



24 May 2012

The relationship between New York jewellery giant Tiffany & Co. and Italian designer Elsa Peretti began back in 1974. But will 2012 be the year that this union comes to an end? It looks that way from reports that say Peretti is considering a termination in her licensing agreement that currently pays her a royalty for her designs.

In the event that she does decide to call things off, Tiffany & Co. is said to have offered the 72-year-old designer an undisclosed sum to maintain the use of her intellectual property (aka her designs). If she doesn't accept, once the agreement is terminated Tiffany & Co. would keep the rights to Peretti's designs for six months and be able to sell off any Peretti-designed pieces on hand or on order for up to one year. If this all does go down, grab some Peretti pieces while  you still you can!

As of 2009, 10% of Tiffany's net sales have been credited to Peretti-designed products, quite a significant chunk of change considering that the company's reported revenue for 2011 was $3.64 billion USD.

PHOTOS: left, jewellery designer Elsa Peretti; right, ruthenium over copper cuff by Elsa Peretti for Tiffany & Co


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