Luxury brands

Tiffany Welcomes Decision by Court of Chancery to Expedite Lawsuit Against LVMH

Monday, September 21, 2020 - 10:10pm

Tiffany & Co. (NYSE: TIF) today welcomed the decision by the Delaware Chancery Court to grant Tiffanys motion to expedite its lawsuit against LVMH Mot Hennessy-Louis Vuitton SE (LVMH).

Key Points: 
  • Tiffany & Co. (NYSE: TIF) today welcomed the decision by the Delaware Chancery Court to grant Tiffanys motion to expedite its lawsuit against LVMH Mot Hennessy-Louis Vuitton SE (LVMH).
  • Tiffany has acted in good faith in full compliance with the Merger Agreement and will continue to do so.
  • Neither LVMH nor the French Foreign Minister has provided a copy of this letter to Tiffany despite formal written requests that such letter be provided.
  • LVMH has offered no support for its claim that Tiffany breached its obligation to operate in the ordinary course.

Tiffany Responds to LVMH’s Request to Delay Delaware Trial for "Six or Seven Months"‎

Wednesday, September 16, 2020 - 11:35pm

Then, LVMH produced a non-binding advisory letter from a French government official that requests further delay in closing.

Key Points: 
  • Then, LVMH produced a non-binding advisory letter from a French government official that requests further delay in closing.
  • However, this letter does not change LVMHs obligations to close immediately upon receipt of the required regulatory approvals.
  • Tiffany has managed the business in a commercially reasonable way and in accordance with all requirements under the Merger Agreement.
  • However, Tiffany has provided regular updates to LVMH which will have the right to manage Tiffany following closing of the transaction.

Ana de Armas Stars in The Natural Diamond Council's First Ever Celebrity Campaign

Wednesday, September 16, 2020 - 6:00pm

NEW YORK, Sept. 16, 2020 /PRNewswire/ --The Natural Diamond Council (NDC) announces the imminent launch of its first ever celebrity campaign, starring the actress Ana de Armas.

Key Points: 
  • NEW YORK, Sept. 16, 2020 /PRNewswire/ --The Natural Diamond Council (NDC) announces the imminent launch of its first ever celebrity campaign, starring the actress Ana de Armas.
  • Ms. de Armas also shines throughout this new multipart campaign, which was developed to celebrate the myriad connections with which natural diamonds are worn or exchanged, and to bring awareness to the Natural Diamond Council's "Only Natural Diamonds" online platform .
  • The " Only Natural Diamonds " portal serves as a window of discovery into this natural diamond universe.
  • This new campaign marks a number of firsts for the Natural Diamond Council, in addition to welcoming its first Hollywood headliner.

Global Diamond Industry - Recovery of the Industry Depends on Getting Consumers Back into Jewelry Stores as Big Players Lower Prices

Wednesday, September 16, 2020 - 11:00am

Both Alrosa and rival De Beers have lowered prices in their most recent sales.

Key Points: 
  • Both Alrosa and rival De Beers have lowered prices in their most recent sales.
  • The two companies had tried to defend the value of their diamonds however with the closure of jewelry stores and travel bans in effect, the global demand for diamonds was significantly reduced.
  • Many of their customers have not bought any significant amount of diamonds since February and will need to replenish inventories.
  • However, the recovery of the diamond industry will ultimately depend on getting consumers back into jewelry stores.

Ana de Armas Stars in The Natural Diamond Council's First Ever Celebrity Campaign

Wednesday, September 16, 2020 - 12:01am

NEW YORK, Sept. 16, 2020 /PRNewswire/ -- The Natural Diamond Council (NDC) announces the imminent launch of its first ever celebrity campaign, starring the actress Ana de Armas.

Key Points: 
  • NEW YORK, Sept. 16, 2020 /PRNewswire/ -- The Natural Diamond Council (NDC) announces the imminent launch of its first ever celebrity campaign, starring the actress Ana de Armas.
  • Ana de Armas also shines throughout this new multipart campaign, which was developed to celebrate the myriad connections with which natural diamonds are worn or exchanged, and to bring awareness to the Natural Diamond Council's "Only Natural Diamonds" online platform .
  • The "Only Natural Diamonds" portal serves as a window of discovery into this natural diamond universe.
  • This new campaign marks a number of firsts for the Natural Diamond Council, in addition to welcoming its first Hollywood headliner.

El Septimo Cigars Launches Full Line of Premium Cigar Accessories

Tuesday, September 15, 2020 - 5:16pm

Los Angeles, CA, Sept. 15, 2020 (GLOBE NEWSWIRE) -- El Septimo Cigars, a Younan Collection company, has launched its first full line of premium cigar accessories.

Key Points: 
  • Los Angeles, CA, Sept. 15, 2020 (GLOBE NEWSWIRE) -- El Septimo Cigars, a Younan Collection company, has launched its first full line of premium cigar accessories.
  • El Septimo offers a one-year warranty on all lighters and cutters in the unlikely incident that a technical issue arises with one of its premium accessories.
  • All accessories mimic the Art-Deco inspired colors and designs that El Septimo has been known to follow.
  • Accessories match the bold product packaging and band colors of the 40 different blends of cigars that El Septimo carries, offering a sporty and luxurious flare to technically innovative accessories ultimately they are something unlike anything you have ever seen before.

Diamonds Are Discounted: Biggest Producers Lower Prices For First Time Since Pandemic - ResearchAndMarkets.com

Friday, September 11, 2020 - 12:24pm

The two biggest diamond producers have lowered prices in an attempt to spur demand.

Key Points: 
  • The two biggest diamond producers have lowered prices in an attempt to spur demand.
  • Both Alrosa and rival De Beers have lowered prices in their most recent sales.
  • The two companies had tried to defend the value of their diamonds however with the closure of jewelry stores and travel bans in effect, the global demand for diamonds was significantly reduced.
  • Many of their customers have not bought any significant amount of diamonds since February and will need to replenish inventories.

Mountain Province Diamonds Announces Results of Annual General & Special Meeting of Shareholders

Wednesday, September 9, 2020 - 10:23pm

About Mountain Province Diamonds Inc.

Key Points: 
  • About Mountain Province Diamonds Inc.
    Mountain Province Diamondsis a 49% participant with De Beers Group in the Gahcho Ku diamond mine located in Canada's Northwest Territories.
  • Except for statements of historical fact relating to Mountain Province, certain information contained herein constitutes forward-looking statements.
  • The principal assets of Mountain Province are administered pursuant to a joint venture under which Mountain Province is not the operator.
  • Under its current note and revolving credit facilities Mountain Province is subject to certain limitations on its ability to pay dividends on common stock.

Mountain Province Diamonds Announces Results of Annual General & Special Meeting of Shareholders

Wednesday, September 9, 2020 - 10:13pm

About Mountain Province Diamonds Inc.

Key Points: 
  • About Mountain Province Diamonds Inc.
    Mountain Province Diamondsis a 49% participant with De Beers Group in the Gahcho Ku diamond mine located in Canada's Northwest Territories.
  • Except for statements of historical fact relating to Mountain Province, certain information contained herein constitutes forward-looking statements.
  • The principal assets of Mountain Province are administered pursuant to a joint venture under which Mountain Province is not the operator.
  • View original content to download multimedia: http://www.prnewswire.com/news-releases/mountain-province-diamonds-annou...
    SOURCE Mountain Province Diamonds Inc.

Tiffany Files Lawsuit Against LVMH To Enforce Merger Agreement

Wednesday, September 9, 2020 - 11:34am

The lawsuit relates to the November 24, 2019 Merger Agreement between Tiffany and LVMH providing for the acquisition of Tiffany by LVMH and seeks, among other things, an order requiring LVMH to abide by its contractual obligation under the Merger Agreement to complete the transaction on the agreed terms.

Key Points: 
  • The lawsuit relates to the November 24, 2019 Merger Agreement between Tiffany and LVMH providing for the acquisition of Tiffany by LVMH and seeks, among other things, an order requiring LVMH to abide by its contractual obligation under the Merger Agreement to complete the transaction on the agreed terms.
  • Under the terms of the Merger Agreement, LVMH assumed all antitrust-clearance risk and all financial risk related to adverse industry trends or economic conditions.
  • In addition, LVMH has asserted there has been a Material Adverse Effect and a breach by Tiffany of the Merger Agreement, which LVMH suggested could give it the option to seek to terminate the Merger Agreement.
  • The Merger Agreement does not excuse LVMH from completing the merger merely because a government minister has requested that LVMH breach the Merger Agreement.