Tiffany & Co Reaches Agreement With Elsa Perreti
If Santa neglected to gift you with a certain little blue box this Christmas season, you’re in luck. It seems artist Elsa Perreti has agreed to a “firm offer” from Tiffany & Co to let the luxe jewelry brand continue to offer up her beloved heart- and bean- shaped baubles for another 20 years.
Way back in May 2012, we here at Posh Beauty revealed that Perreti was rumored to be considering “retiring” from her 35+ year relationship with Tiffany & Co — and taking her beloved beans and hearts with her. But it seems the two have come to an agreement — a good thing since Perreti’s designs account for a whopping 10% of the companies net sales.
WWD is reporting that that Tiffany offered up a deal “in an amount that is based upon the value of the Peretti intellectual property to Tiffany,” which equals $47.3 million, plus a basic yearly royalty of $450,000 a year and 5% of net sales. So Peretti gets her pretty penny, Tiffany gets your pretty penny, and you get your pretty blue box — win-win-win.