The Qatar Investment Authority has raised its investment stake in Tiffany & Co. to 7.8 percent from 5.2 percent, according to a regulatory filing Monday.
The filing with the Securities and Exchange Commission, a Schedule 13G, indicated that the aggregate amount of shares owned by the Qatar fund is slightly more than 9.9 million shares. The shares were transferred on Dec. 17 to Qatar Holding USA LLC, a wholly owned subsidiary of QIA, from Qatar Holding LLC, another wholly owned subsidiary of QIA.
Based in Doha, QIA is considered a sovereign wealth fund. It was founded by the State of Qatar in 2005 as an investment vehicle to diversify into asset classes beyond the state’s domestic positioning in natural resources. Qatar, an emirate, is ruled by the Al Thani family.
Other Qatar investments include Harrods Group, which Qatar Holdings took control of in 2010 for $2.22 billion; a 26 percent stake in British food retailer J. Sainsbury in 2010, and a 12.8 percent stake in French media group Lagardère SCA. It also has a 1.03 percent stake in LVMH Moët Hennessy Louis Vuitton.
Last month, Qatar Holding signed an agreement with Italy’s Fondo Strategico Italiano, the holding controlled by Cassa Depositi e Prestiti, or CDP, a joint-stock company under public control, to create a joint venture, IQ Made in Italy, which will invest in Italian brands across different sectors, including fashion and luxury.
Shares of Tiffany on Wednesday declined 2.8 percent to close at $56.70 in trading on the New York Stock Exchange, joining the broader group of retail stocks that slipped in trading due to the perceived disappointment in the holiday sales season.
My character, Dinah Madani, is just the coolest, [most] badass woman imaginable," says @amberroserevah. The actress stars in @marvel's newest series on @netflix, @thepunisher. To prepare for her role, Revah sat down with Homeland agents to get a real sense of with Dinah's day-to-day life is really like. Read our full interview on WWD.com. #wwdeye (📷: @jilliansollazzo)
A scene from the 91st annual @macys Thanksgiving Day Parade. The parade, which boasts 50 million TV viewers and 3.5 million on-site spectators, is considered one of the largest and most watched parades in the world. (📷: Jason Szenes/EPA-REX)
The circus came to @bloomingdales 59th Street on Tuesday night and lit up Lexington Avenue with acrobatic dancers, death-defying knife throwing, sword swallowing and aerial acts with no net. The 45 minutes of theatrics built up to unveiling the holiday windows depicting @swarovski crystal-encrusted circus pieces and scenes from “The Greatest Showman” – songs from the soundtrack included. See the rest of the photos on WWD.com #wwdfashion (📷: Joshua Scott)
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@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)