Tiffany has thus far opted to keep the sum total of their offer to Peretti a secret, but we’re guessing from the popularity of her designs, that they’re prepared to shell out some serious cash. Here’s what will happen if Peretti ultimately refuses:
“Tiffany would retain all rights under the agreement for six months, including the right to make Peretti-designed baubles. Following the six-month period, Tiffany would have an additional year to sell any Peretti-designed products on hand or on order. Thereafter, Tiffany would be allowed to sell any Peretti-designed products on hand, subject to the designer’s right to purchase these remaining goods. Tiffany would also be relieved of royalty obligations.”
We’re sad to hear this! Elsa Peretti’s baubles have been a fixture in the jewelry boxes of graduating, Bat Mitvahing, and Sweet Sixteening teenage girls for quite some time now. ‘Tis always a tragedy to see a classic die–so hopefully it won’t.