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Annulled marriages
It is a letter that has caused much ink to flow: to justify the abandonment of its plan to buy out American jeweler Tiffany, the LVMH group relied on a letter signed by the Minister of Foreign Affairs, Jean-Yves Le Drian. Addressed to Bernard Arnault, the boss of the French group, the letter asked him, in the context of tense negotiations on the GAFA tax, to postpone this acquisition in the name of “National interest”. According to various sources, LVMH had actually been seeking for several weeks to renegotiate the agreement, concluded in November 2019 for $ 16.2 billion (€ 14.7 billion). In reaction to this announcement, the American company filed a complaint with the justice of the State of Delaware to force the luxury giant (which also took the case to the American courts) to complete the operation.
Tourists and the ultra-rich
Founded in the United States in 1837, Tiffany has more than 300 stores worldwide and its turnover was around 4 billion euros in 2019. According to its boss, Alessandro Bogliolo, the brand makes around 10% of its worldwide sales in its flagship store (“Flagship”, in English), located at number 727 of the Ve Avenue in New York. Opened in 1940, it has always been frequented by a famous and wealthy clientele: American presidents John F. Kennedy and Richard Nixon had their habits there, as did Richard Burton, actor and husband of Elizabeth Taylor. Today, the store is popular with tourists, attracted by accessible silver objects, such as the ultra-rich, received in a secret salon where the most precious jewelry of the brand is displayed – the value of which sometimes exceeds several million dollars. .
Referenced breakfast
In 1961, the store served as the setting for Blake Edwards’ film Breakfast at Tiffany’s (Diamonds on the sofa, in French), adapted from the novel by Truman Capote. In the film, Audrey Hepburn, who holds the title role, has the habit of having breakfast in front of the windows of the department store. “It’s quiet, majestic. Nothing serious can happen to you in such a place ”, she explains. A nod to the film: In 2018, Tiffany opened a restaurant on the fourth floor of her famous New York address. Called Blue Box Cafe, in reference to the famous blue boxes that serve as showcases for the brand’s jewelry, the establishment was an immediate success. Reservations are open thirty days in advance and are full in just a few hours, warns the specialist site newyorkCity.fr.
High risk transfer
Renovation work, which began in spring 2019, is to expand the building by three floors. Pending its reopening, scheduled for 2022, a new store has opened in an adjacent building. The move – about fifteen meters – took place with the utmost discretion, at the very beginning of the year. He mobilized dozens of security agents and New York police officers, tasked with monitoring the transfer of the 114,179 “Units of goods” (the expression used by the jeweler to designate his jewelry) which make up Tiffany’s treasure. Its centerpiece, a 128-carat, 82-facet yellow diamond valued at $ 30 million, was apparently not on the trip. Kept in an undisclosed place, it had made a remarkable appearance on Lady Gaga’s neck, in 2019, during the Oscars ceremony.
