The former model, now 72 years old, apparently wants to terminate her licensing agreement with Tiffany. As a result, ‘Tiffany has made a firm offer to Ms Peretti in an amount that is based upon the value of the Peretti intellectual property to Tiffany,’ the company said.
Peretti must know what she’s worth, so it’s unlikely that she will part with her intellectual property for anything near Tiffany’s first offer. And the international jewellery brand has every reason to sweat about her hesitation—its shares plummeted to annual lows this week as US sales weakened.
With Peretti’s designs ranking among the most instantly recognisable and accessibly priced in their inventory, Tiffany won’t want to lose an almost guaranteed income stream.
‘If Peretti and Tiffany are unable to agree on a price... Peretti could opt to terminate her exclusive license agreement with Tiffany—and this would have serious commercial implications for the jewellery company,’ said Karen Fong, partner at specialist intellectual property law firm Rouse.
‘Not only would Tiffany not be able to sell Peretti’s designs and use her brand, [but] Peretti would of course be free to produce or sell her designs and licence the use of her brand to whoever she pleases.’
Elsa Peretti for Cartier, Elsa Peretti for Boodles or even Elsa by Elsa Peretti would represent a major shift in the jewellery landscape. Whatever happens, we’re sure Peretti will come out on top. Anyone who could pose for Helmut Newton in a leotard and bunny ears with such confidence would, wouldn’t she?