Jewelry News: TY! and LVMH

The pandemic is affecting some groups of people more than others. The front line workers including medical staff and grocery store employees as well as other necessary workers who cannot stay home are taking risks for all of us.

Our daughter works at a grocery store. Every day we worry about her exposure and encourage her to be as safe as possible. Grocery stores and delivery services, as well as other necessary businesses and operations, do not have the luxury of closing. If you are still going to work,

thank you

Although we wish everyone was home safe, we understand the need for access to food and goods. We understand the necessity of pharmacies and general stores, municipalities and trash services, and we are grateful for all the employees who keep our country running smoothly.

We are grateful that these few businesses and municipal services remain open and generate revenue to pay their employees, thereby keeping the *entire* economy afloat. If there was ever a question about the value of the stock market and its relationship to people in the workforce, we feel like the 2020 market nose-dive and returning wobble, have put that debate to rest. It is the workers who fuel the economy. Again, Thank You!

As the market quakes and we all see what is really important, the titan of luxury goods is feeling the quarantine pinch. LVMH owns Dior, Louis Vuitton, and other high-end luxury brands and now they are pointedly aware of their less-than-necessary status. Their plans to acquire Tiffany & Co. have stalled because of COVID-19. Although LVMH has been in the process of acquiring Tiffany & Co. since November 2019, COVID-19 pressed pause on all forward movement while governments focus on surviving the slowdown.

All US Tiffany locations are closed until further notice. Internationally, many Tiffany locations are closed as well, including 13 in Canada. LVMH is hopeful that the acquisition will conclude and operations will resume sometime in mid-2020, but we will have to wait and see.

This pandemic is reaching into everyone’s lives; from the grocery clerk to the CEO of LVMH. If the virus deals in Justice, perhaps COVID-19 will flatten the curve of inequality and bring luxury titans back to earth while lifting hardworking people.

Until next time…

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