Diamond war breaks out on Nantucket as ritzy boutique sues another in sparklingly spoiled spat
Ritzy Massachusetts outlet The Vault has launched legal action against Florida -based Marissa Collections in a fiery civil lawsuit accusing their rivals of breaching a non-compete contract.
Katherine Jetter, who established The Vault in downtown Nantucket in 2017, has accused the competing jeweler of invading her 'territory' by planning to open a store next month just 0.2 miles away from her outlet.
The owners of Marissa Collections - gemology power couple Marissa and Burt Hartington, and their investment banker son Jay - have been accused of breaching a contractual promise not to operate within a 50-mile radius of Jetter's business.
Jetter's bombshell lawsuit claims they tricked her into giving away sensitive business information under the 'guise' of wanting to explore a partnership with her by either purchasing The Vault or merging with it.
Her suit outlines how the entrepreneurial family allegedly began 'secretly scheming to establish their own competing store' after Jetter 'entrusted' them with 'the crown jewels of her business' including 'highly sensitive information, books and records'.
Jetter said she provided the Hartingtons with The Vault's 'confidential business and proprietary information' including detailed sales data and forecasts, profit margins and models and seasonal revenue patterns.
The two boutiques 'largely feature and sell the same jewelry designers' lines, work with the same vendors, have overlapping clientele, and market to the same target customer base', per the lawsuit.
Both stores sell glitzy diamond rings, colorful earrings and gold-plated necklaces for between $2,000 and $57,000.
Jetter claimed that Jay Hartington met her in Nantucket, purportedly to discuss a potential merger or purchase of her business.
She said he signed two non-compete contracts in April 2023 and October 2024 agreeing not to open a store within a 50-mile radius of The Vault.
Jetter has accused the family of orchestrating a 'brazen violation of their contractual obligations' by using their 'confidential business information and trade secrets' to 'open a competing store right in The Vault's own backyard'.
Jay 'assured Ms Jetter that Marissa Collections would "never" independently operate a location on Nantucket without Ms Jetter since Nantucket was her "territory"', her lawsuit state.
Jetter has also accused the Hartingtons of holding jewelry worth $250,000 hostage, which they said they would return only if she waived the non-compete agreements.
One Marissa Collections employee was even fired after they returned some of the expensive jewels to her, according to Jetter's lawsuit.
The legal document marks the explosive end of a 15-year business relationship between the two luxury boutiques.
Marissa Collections was one of the first independent retailers to sell Jetter's jewelry line after she established Katherine Jetter Ltd in 2008, according to her suit.
She built her reputation in Nantucket's exclusive couture jewelry industry, while Marissa Collections operated out of Palm Beach and Naples in Florida.
Jetter's jewelry was featured by Oprah Winfrey on the front cover of her 'Oprah's Favorite Things' issue, according to her suit.
Both boutiques have won several coveted industry awards.
Marissa Hartington has been described as the ' creative force' behind their stores, while Burt Hartington 'anchors the business end of operations'.
Their son Jay, a former investment banker, is the CEO who spearheads the sales and marketing side of the company.
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