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.
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
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Discovery is collaborating with British pop artist @philipcolbert on a new line of clothing and accessories called Discovery Shark. The collection, which will launch next summer for Shark Week’s 30th anniversary, features a whimsical line of women’s and men’s bomber jackets, sweatshirts, bags and more. #wwdfashion
“I’m always a big champion of a female rapper, and I’m glad to see a new voice that feels unique and authentic that’s coming up, and I think we’re going to see more great things from her,” said @itsjeremyscott about @iamcardib, who performed at @moschino’s Art Basel Miami Beach party last night. #wwdeye (📷: @lexieblacklock)
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@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)