Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

LVMH pulls out of $16 bn Tiffany deal

10 september 2020
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Image credit: Tiffany & Co.


The $16.2 bn deal that would have brought together LVMH Moët Hennessy Louis Vuitton and Tiffany & Company, which would have been the biggest acquisition ever in the luxury sector has fallen through, according to a report in nytimes.com
On 9 Sept LVMH said it was withdrawing its offer to buy Tiffany, while Tiffany said it had filed a lawsuit to force the luxury giant to move forward with its offer.
However, LVMH said in statement that it couldn’t complete the deal ‘as it stands,’ citing a request from the French government to delay the deal beyond Jan. 6, 2021, because of the threat of U.S. tariffs on French goods. Tiffany, on its part, said said that while LVMH had informed the jeweler that it had received a letter from the French government to delay the deal, the company had not yet seen a copy of that letter.
Tiffany decided to sue LVMH over frustration that 10 months after the agreement, it had not yet filed for antitrust approval in the European Union.
The acquisition of Tiffany would have made LVMH a major player in the so-called hard luxury sector, adding to its purchase of Bulgari in 2011, as well as its most significant beachhead in the American market.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished