By  on May 23, 2012

Tiffany & Co. may be breaking up with Elsa Peretti, its long-time jewelry partner.

The New York-based retailer’s relationship with the Italian designer began in 1974. Since 2009, Peretti-designed jewelry has accounted for 10 percent of Tiffany’s net sales, the company said. In 2011, Tiffany reported revenues of $3.64 billion.

The 72-year-old Peretti, who receives a royalty for Tiffany’s use of her intellectual property, has expressed interest in “retiring” from her relationship with the luxe jeweler, according to a regulatory filing with the Securities and Exchange Commission Wednesday.

 

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