Cartier has sued Tiffany & Co for allegedly stealing trade secrets on pricey jewelry pieces that would have raked in millions

French luxury label Cartier owned by the Richemont Group is suing LVMH’s Tiffany & Co of hiring an underqualified manager to learn of their ‘High Jewelry’ collection. Stealing trade secrets is not something the more than a century-old brand, Cartier, is willing to tolerate and even more so when it involves its arch-rival. According to a complaint filed in a New York state court in Manhattan, Tiffany hired away a junior manager Megan Marino to learn more about Cartier’s “High Jewelry” collection, where pieces typically cost $50,000 to $10m.

Jay Z and Beyonce in a Tiffany ad campaign. Via Facebook / @Tiffany & Co.

Cartier has openly and sternly admonished Tiffany’s ‘disturbing culture of misappropriating competitive information.’ According to Reuters, an affidavit accompanying the complaint revealed that Marino said Tiffany was “more interested in hiring me as a source of information than a High Jewelry manager.” That’s not all; Cartier also accused Tiffany of letting a recently hired former Cartier executive work on a high jewelry project called the “Blue Book” despite her six-month non-compete agreement.

Also read -  Christie’s set to auction collection of 101 Cartier Mystery Clocks in Geneva

Anya Taylor-Joy wearing the Tiffany knot. Via Facebook / @Tiffany & Co.

The lawsuit seeks an injunction requiring that Tiffany return and not use stolen trade secrets, plus unspecified damages. Richemont has been thriving after a few rough months when the pandemic was at its peak. Richemont enjoyed boosted quarterly sales by 32% as demand for jewelry and watches came through following a manger earlier in the coronavirus pandemic. Sales at Richemont’s jewelry brands Cartier, Buccellati, and Van Cleef & Arpels rose 38%.

Tags from the story
Written By
With over 15 years of experience in luxury journalism, Neha Tandon Sharma is a notable senior writer at Luxurylaunches. Her expertise spans luxury yachts, high-end fashion, and celebrity culture. Beyond writing, her passion for fantasy series is evident. Beginning with articles on women-centric gadgets, she's now a leading voice in luxury, with a fondness for opulent superyachts. To date, her portfolio boasts more than 2 million words, often penned alongside a cappuccino.