Tiffanys mad over H&M's class
The store made famous by Audrey Hepburn is furious that H&M may ruin its reputation.
Is it acceptable to sell $5 underpants next door to a jeweller offering $100,000 diamond rings? Tiffany & Co doesn't think so, but Australian shopping centre Westfield does.
The jeweller and mega shopping centre are locked in a battle over whether the close proximity of the proposed H&M store will damage Tiffany's reputation.
Now an American judge is to settle the dispute after Tiffany sued Westfield in an effort to stop the opening of a Swedish retailer H&M store in its shopping mall in Los Angeles.
Tiffany says its contract with Westfield protects its from retailers "whose merchandise and/or price points are not considered to be luxury, upscale or better by conventional retail industry standards" from opening up in its proximity.
The Westfield store currently holds high-end stores including Louis Vuitton, Coach, Hugo Boss and Cole Haan, but also has a lower-end chains Gap, Bebe and some fast food outlets.