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.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)