Cartier sued Tiffany, claiming its competitor in the luxury jewelry space stole trade secrets about some of its most exclusive products from an employee it hired away.
Cartier, a division of Richemont North America, sued Tiffany and Megan Marino, a former “junior manager” at Cartier in New York State Court. According to the suit, Tiffany, which was acquired last year by LVMH Moët Hennessy Louis Vuitton SE, hired Marino to work on its “high jewelry” collection, which includes individually made pieces that range as high as $10 million in price.
Marino passed confidential information about Cartier’s own high jewelry business to her new colleagues, the suit alleges. Cartier claims its investigation into the case has “opened a window into Tiffany’s disturbing culture of misappropriating competitive information.”