Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Tiffany & Co.    TIF

Delayed Quote. Delayed  - 05/04 10:02:02 pm
70.47 USD   -0.83%
04/23 TIFFANY : Net-A-Porter and Tiffany & Co. announce global collaborati..
04/13 DIAMCOR MINING : Secures Long-Term Water Use License
04/13 TIFFANY : The iconic Tiffany engagement-ring setting turns 130
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Tiffany & Co. : Tiffany Set to Expand in United Arab Emirates

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/19/2012 | 04:05pm CEST

Tiffany & Co. (NYSE: TIF) today announced that it has signed a memorandum of understanding to enter into a strategic joint venture with Damas Jewellery, a company incorporated under the laws of Dubai, related to the operation of TIFFANY & CO. retail stores in the United Arab Emirates.

Frederic Cumenal, executive vice president, said, "We are very pleased to extend our relationship with Damas Jewellery through this joint venture, which will enable us to better integrate five existing TIFFANY & CO. stores into our worldwide store network and enhance awareness of our brand in the United Arab Emirates. We see very exciting opportunities to expand our sales throughout this important region. Representing Tiffany in the venture is Laurent Cathala, Tiffany's vice president - emerging markets."

Under the memorandum of understanding which covers five TIFFANY & CO. stores (three in Dubai and two in Abu Dhabi) as well as future store expansion, Tiffany will be responsible for merchandise assortment and pricing, advertising and promotional activities, staffing, store design and visual display and financial services. The joint venture is expected to begin operating in the second quarter of 2012.

Prior to establishing the joint venture, Tiffany sold merchandise, on a wholesale basis, to Damas which operated the TIFFANY & CO. stores. Both Tiffany and Damas are contributing capital to the joint venture.

Tiffany & Co. operates jewelry stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas, Asia-Pacific, Japan and Europe and engages in direct selling through Internet, catalog and business gift operations. For additional information, please visit www.tiffany.com or call our shareholder information line at 800-TIF-0110.

This document contains certain "forward-looking" statements concerning the Company's objectives and expectations. Actual results might differ materially from those projected in the forward-looking statements. Information concerning risk factors that could cause actual results to differ materially is set forth in the Company's 2010 Annual Report on Form 10-K and in other reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Tiffany & Co.
Mark L. Aaron, 212-230-5301
Mark.aaron@tiffany.com
or
Linda Buckley, 212-277-5900
Linda.buckley@tiffany.com


© Business Wire 2012
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on TIFFANY & CO.
04/23 TIFFANY : Net-A-Porter and Tiffany & Co. announce global collaboration
04/13 DIAMCOR MINING : Secures Long-Term Water Use License
04/13 TIFFANY : The iconic Tiffany engagement-ring setting turns 130
04/12 TIFFANY : NET-A-PORTER and Tiffany & Co. Announce Global Collaboration
03/30 TIFFANY : to Host Investor Day on April 12, 2016
03/28 TIFFANY : & CO Management's Discussion and Analysis of Financial Condition and R..
03/22 TIFFANY : & CO : Amendment or Waiver to Code of Ethics, Other Events, Financial ..
03/21 TIFFANY : Reports full year and fourth quarter 2015 results; management comments..
03/18DJMARKET SNAPSHOT : Dow Books Longest Winning Streak In 5 Months
03/18DJMARKET SNAPSHOT : S&P, Dow Pare Gains But Still On Track For Highest Close In 20..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials