TIFFANY RUMBLINGS: Shares of Tiffany & Co. gained 3.26 percent, or $1.05, to close Wednesday at $33.26 in New York Stock Exchange trading amid speculation that a sale of the company might be in the works. Richemont AG, the Swiss firm that owns luxury goods brands such as Cartier, is said to be pondering a play for Tiffany, sources said. Shares of the luxury retailer in March also saw increased activity, again due to market gossip that it might be acquired.
RALPH SETS RECORD: On Tuesday, Ralph Lauren pledged to donate $110,000 to the Abyssinian Development Corp., setting a new record for the organization, which works for the revitalization of Harlem. Lauren’s donation enabled the corporation to make its goal of raising $1 million. The group gave Lauren a Renaissance Award at its annual leadership breakfast on Tuesday.
HEADS UP: Karen Forray has joined New York-based executive search firm Martens & Heads as managing director. Forray joins the firm, founded in January 2004 by recruitment executive Maxine Martens, from E.A. Hughes & Co., where she was executive vice president. Before that, Forray ran her own executive search firm.
FOOT LOCKER SHIFT: Foot Locker Inc. said Wednesday it has named Keith Daly president and chief executive officer of its European division. Daly had been president and ceo of Lady Foot Locker, and is succeeded by Marla Anderson, who had been executive vice president and general merchandise manager for footwear at Foot Locker U.S./Kids Foot Locker/Footaction.
This story first appeared in the June 9, 2005 issue of WWD. Subscribe Today.