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The question of "What the hell should I get my cousin/sister/niece for graduation?" just got a little bit harder to answer. WWD reports that Tiffany & Co. may nearing the end of its long-time relationship with Elsa Peretti, the designer responsible for those ubiquitous bean- and heart-shaped necklaces and earrings all the kids are wearing these days.
According to WWD, Tiffany's relationship with the Italian designer began way back in 1974 and at this point accounts for a full 10% of Tiffany’s net sales. Nonetheless, Peretti has indicated that she's considering "retiring" from her relationship with the retailer, and filed some paperwork to that effect with the Securities and Exchange Commission yesterday. This, obviously, is not great news for Tiffany, who told WWD that they've made "a firm offer" to the designer "in an amount that is based upon the value of the Peretti intellectual property to Tiffany.” Let's see if they can work something out.
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