The jewelry firm reiterated that the assertion of Material Adverse Effect due to COVID-19 has “no factual, contractual or authorized assist”. It additionally refuted claims that it had mismanaged the crisis, stating that retailer closures have been “entirely consistent with its authorized obligations” and carried out to guard the security of workers and clients. In its quarterly report, Tiffany & Co. administration confirms gross sales have fallen 45 per cent due to the influence of COVID-19, including an eighty five per cent fall in Mainland China in February. And for LVMH, the record-breaking deal presented an opportunity to double the …