Tiffany Gives $1M to Pandemic Relief Efforts

RAPAPORT... Tiffany & Co. has donated $1 million to aid efforts to stem the spread of COVID-19, with a portion allocated toward providing essential medical supplies to New York.The jeweler will contribute $750,000 to the COVID-19 Solidarity Response Fund for the World Health Organization (WHO), it said Monday. Those funds will help countries around the world prevent, detect and respond to the virus, and provide essential medical supplies to health workers. It will also be used to accelerate the discovery and development of vaccines for the disease.The company will give the remaining $250,000 to a New York City fund that aids nonprofit organizations helping address essential health-care and food issues throughout the city."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."Tiffany will also match any donations made by its employees to a nonprofit supporting COVID-19 relief, it added.European luxury brand LVMH, which is set to acquire Tiffany this year, has also joined in the fight against the pandemic, with its Italian and US maisons contributing financial aid and medical supplies, as well as free online education programs for underserved neighborhoods, it said.Image: The Tiffany flagship store on Fifth Avenue, New York City. (Shutterstock)