DE BEERS-LVMH OK: The European Commission on Wednesday authorized South African diamond trader De Beers and LVMH Moet Hennessy Louis Vuitton to create a luxury jewelry brand under the De Beers name, confirming a WWD report Wednesday. But the EC issued a statement of objection criticizing De Beers’s so-called “supplier of choice” initiative, which intends to formalize relations for the purchasing and selling of rough diamonds between De Beers and its customers. Alain Lorenzo was appointed to head the new venture, known as Rapids World Ltd. LVMH imported Lorenzo internally from its eLuxury.com e-tail operation.
TOMMY’S NEXT STEP: Tommy Hilfiger Corp. has signed an agreement with the Hamm Group of Companies, of Germany, for the manufacture and distribution of women’s, men’s and children’s footwear throughout Europe. The line will be introduced at the GDS fair in Dusseldorf in September and will be available at retail for next spring.