The first chapter in luxury world’s big merger of French luxury conglomerate LVMH and Tiffany & Co. is written but only available for purchase online. April 1 was launch day for a new collection called T1 — inspired by Tiffany’s classic T-shaped motif from the ’80s.

Designed by Reed Krakoff, Chief Artistic Officer, the stones in T1 designs nest into each other, evoking a honeycomb pattern. “This reduces the amount of metal, allowing for larger diamonds and therefore greater sparkle, explains Tiffany & Co. about the design process.

“The goal was to reinvent the ‘T’motif in a new bold symbol that felt very modern.”

Top models Adut Akech, Freja Beha Erichsen and Vittoria Ceretti are the faces of the new T1 campaign.

The global COVID-19 pandemic was not part of the T! launch plan. With the arrival of the coronavirus, LVMH is currently producing hand sanitizer, face masks and hospital gowns, Tiffany & Co. closed its stores mid-March and has no opening date. The Tiffany & Co. Foundation, launched in 2001, announced a $1 million donation of COVID-19-related causes.

“During this global health crisis, we must all be responsive to the urgent needs of our global communities,” said Anisa Kamadoli Costa, chairman and president of the Tiffany & Co. Foundation. “We are proud to support organizations providing immediate relief for communities impacted by COVID-19, including our hometown of New York.”

The foundation is allocating $750,000 to the COVID-19 Solidarity Response Fund for the World Health Organization, plus $250,000 to the New York Community Trust’s NYC COVID-19 Response & Impact Fund. Tiffany & Co. will also match employee donations to any qualified nonprofit organization supporting COVID-19 relief, dollar for dollar.

Across the Atlantic parent company LVMH’s chairman Bernaud Arnault backed off his request for financial assistance from the French government, after reports surfaced of his intentions to furlough employees with financial assistance from taxpayers.

LVMH, Kering Back Off Request for French Government Assistance

Arnault, France’s richest person, was joined by another mega billionaire Kering CEO chairman François-Henri Pinault, well known in the fashion industry and worth an estimated $50.9 billion according to the Bloomberg Billionaires index.

The Financial Times reports that both billionaires have backed off their requests for taxpayer assistance after one trade union representative described the request as “scandalous”.

Arnault negotiated for the production of 40 million face masks to be delivered to France, with LVMH funding the first 10 million and the French government the remainder.

Regulatory Snag in Australia Postpones April 8 Acquisition Closing

With most approvals for the LVMH-Tiffany & Co. merger in order, the Australian Foreign Investment Review Board, or FIRB, requested a six month delay due to the pandemic. The Motley Fool reports that while LVMH has officially accepted the delay, it notes that the Australian Treasurer has the power to approve the acquisition sooner, and “the parties” — meaning LVMH and Tiffany — have “a view to obtaining approval as soon as possible.”

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