Latest news with #TheVaultNantucket
Yahoo
29-05-2025
- Business
- Yahoo
Nantucket Jeweler and Marissa Collections Face Legal Fight After Potential Deal Dissolves
A Nantucket jewelry designer and store owner is seeking a jury trial against Marissa Collections, a Palm Beach-based retail operation, after plans for a potential business partnership on Nantucket disbanded. Katherine Jetter, designer and owner of The Vault Nantucket, claims that Marissa Collections used proprietary information that she had shared confidentially and contractually to map out plans for a Marissa Collections store, which is scheduled to open next month just steps from her own store, The Vault Nantucket. More from WWD Soul Singer Teddy Swims Reimagines Kay Jewelers' Iconic Jingle and Curates Father's Day Jewelry Collection Jessica McCormack's New York Flagship Is Full of Character and Carats Queen Camilla Wears the Queen's Own Rifles of Canada Brooch for King Charles III's Address at Canada's Parliament Jetter filed a complaint on May 19 in Nantucket Superior Court against Boutique Tere Inc., which operates as Marissa Collections, alleging breach of contract, unfair and deceptive trade practices, tortious interference and other charges. Three executives at the company, Marissa Hartington, Burt Hartington and Jay Hartington are also named in the 119-page document. Jetter is seeking injunctive relief and damages on behalf of herself and her company, as well as legal fees. Jetter started her namesake company, which includes accessories, in 2008, and she debuted a freestanding store on Nantucket in 2017. A Tuesday morning hearing for the preliminary injunction was canceled. Both retailers sell high-end jewelry and accessories from other brands, as well as apparel. Jetter said that she learned of Marissa Collections' plans for a store at 1 Cambridge Street on the Massachusetts island on May 9 via an Instagram post. With a rendering of its new shingled location, the Florida company flagged its location and June 27 opening, as well as 13 brands it carries including Brunello Cuccinelli, Oscar de la Renta, Michael Kors Collection and Gianvito Rossi, among others. The post featured a bubblegum pink backdrop that is similar to the shade used on The Vault Nantucket's site. In a press release that was shared with WWD Tuesday, Marissa Collections said the Nantucket location will be a 700-square-foot summerlong pop-up that is being called Marissa's Cottage. The Harry Heissmann-designed space will feature 'residencies' and activations from Christy Lynn, Lela Rose, Tammy Fender, Holistic Skincare, Temperley London and others. Jetter's company offers her signature jewelry such as the $29,800 Fiery Bird of Paradise ring, and a $52,000 Paraiba tourmaline origami bangle. Located in the hub of the in-town shopping area, The Vault also offers other high-end items including Hoorsenbuhs' $1,045 sunglasses, a Silvia Furmanovich $5,500 clutch and a Kwiat $56,900 emerald-cut diamond ring. Its online apparel assortment is considerably more limited than Marissa Collections, which offers dozens of designer and other established brands. Located 30 miles off the coast of Cape Cod, Nantucket is known for its cobblestoned streets and low-key shopping. Unlike the Hamptons, Palm Beach and other resort towns, where many luxury retailers and big-name designers have unveiled freestanding stores, Nantucket only has a few designer stores — a Polo Ralph Lauren outpost and a Veronica Beard boutique. Jay Hartington, chief executive officer of Marissa Collections, declined to comment about the lawsuit Tuesday. He said via email that Marissa Collections is looking forward 'to a successful summer season within the vibrant Nantucket community.' The family-run company started in 1975 and now has three Florida stores — a 10,000-square-foot one in Old Naples, a location at The Royal Poinciana Plaza in Palm Beach and a resort outpost at The Ritz-Carlton in Naples. Jetter claims that Marissa Collections disregarded contractual obligations and used 'confidential business information and trade secrets 'as free market research in a territory that was otherwise unfamiliar to them.' Marissa Collections' summer outpost on Nantucket will be located two-tenths of a mile from The Vault. A 2024 confidentiality and non-compete agreement was submitted with last week's filing, as was one from 2023. Jetter claims that Marissa Collections' CEO assured her that the company would never independently operate a store on Nantucket without her, since Nantucket was her 'territory.' Jetter alleges that violates an agreement not to compete within a 50-mile radius. The Nantucket store owner said she provided proprietary information to the Florida company including 'detailed sales data and forecasts, profit margin models and strategies, employee compensation details and seasonal revenue patterns,' among other market analyses. She alleged that the multi-location company and the Hartingtons kept that material for 'improper use' and have refused to provide a certification of destruction of The Vault's confidential information. In addition, Jetter alleged that the defendants had no intention of honoring their agreements or pursuing a transaction with The Vault. In a statement provided on Wednesday by her attorney Kathleen Marini of Quinn Emmanuel Urquhart & Sullivan, Jetter said she could not comment on the ongoing litigation at this time. Jetter said she has always 'prided herself as an entrepreneur who believes in fair business practices,' and that building The Vault Nantucket and her namesake Katherine collection has been her life's work. 'And it was not built alone, but with the support of a strong community of fellow designers, my amazing team, my Nantucket business community, and my incredible retail partners and clients,' she said. 'Looking forward to a great season ahead,' Jetter said The Vault, which carries more than 35 designers, will 'continue to operate as we always have with the unwavering integrity that defines our brand and with a culture of respect for our team, clients and community.'Best of WWD The Definitive Timeline for Sean 'Diddy' Combs' Sean John Fashion Brand: Lawsuits, Runway Shows and Who Owns It Now What the Highest-paid CEOs at U.S. Fashion and Retail Companies Make Confidence Holds Up, But How Much Can Consumers Take?
Yahoo
27-05-2025
- Business
- Yahoo
Nantucket Jeweler and Marissa Collections Face Legal Fight After Potential Deal Dissolves
A Nantucket jewelry designer and store owner is seeking a jury trial against Marissa Collections, a Palm Beach-based retail operation, after plans for a potential business partnership on Nantucket disbanded. Katherine Jetter, designer and owner of The Vault Nantucket, claims that Marissa Collections used proprietary information that she had shared confidentially and contractually to map out plans for a Marissa Collections store, which is scheduled to open next month just steps from her own store, The Vault Nantucket. More from WWD Jessica McCormack's New York Flagship Is Full of Character and Carats Queen Camilla Wears the Queen's Own Rifles of Canada Brooch for King Charles III's Address at Canada's Parliament Weighted Matters: Make That Workout Tougher Jetter filed a complaint on May 19 in Nantucket Superior Court against Boutique Tere Inc., which operates as Marissa Collections, alleging breach of contract, unfair and deceptive trade practices, tortious interference and other charges. Three executives at the company, Marissa Hartington, Burt Hartington and Jay Hartington are also named in the 119-page document. Jetter is seeking injunctive relief and damages on behalf of herself and her company, as well as legal fees. Jetter started her namesake company, which includes accessories, in 2008, and she debuted a freestanding store on Nantucket in 2017. A Tuesday morning hearing for the preliminary injunction was canceled. Both retailers sell high-end jewelry and accessories from other brands, as well as apparel. Jetter said that she learned of Marissa Collections' plans for a store at 1 Cambridge Street on the Massachusetts island on May 9 via an Instagram post. With a rendering of its new shingled location, the Florida company flagged its location and June 27 opening, as well as 13 brands it carries including Brunello Cuccinelli, Oscar de la Renta, Michael Kors Collection and Gianvito Rossi, among others. The post featured a bubblegum pink backdrop that is similar to the shade used on The Vault Nantucket's site. In a press release that was shared with WWD Tuesday, Marissa Collections said the Nantucket location will be a 700-square-foot summerlong pop-up that is being called Marissa's Cottage. The Harry Heissmann-designed space will feature 'residencies' and activations from Christy Lynn, Lela Rose, Tammy Fender, Holistic Skincare, Temperley London and others. Jetter's company offers her signature jewelry such as the $29,800 Fiery Bird of Paradise ring, and a $52,000 Paraiba tourmaline origami bangle. Located in the hub of the in-town shopping area, The Vault also offers other high-end items including Hoorsenbuhs' $1,045 sunglasses, a Silvia Furmanovich $5,500 clutch and a Kwiat $56,900 emerald-cut diamond ring. Its online apparel assortment is considerably more limited than Marissa Collections, which offers dozens of designer and other established brands. Located 30 miles off the coast of Cape Cod, Nantucket is known for its cobblestoned streets and low-key shopping. Unlike the Hamptons, Palm Beach and other resort towns, where many luxury retailers and big-name designers have unveiled freestanding stores, Nantucket only has a few designer stores — a Polo Ralph Lauren outpost and a Veronica Beard boutique. Jay Hartington, chief executive officer of Marissa Collections, declined to comment about the lawsuit Tuesday. He said via email that Marissa Collections is looking forward 'to a successful summer season within the vibrant Nantucket community.' The family-run company started in 1975 and now has three Florida stores — a 10,000-square-foot one in Old Naples, a location at The Royal Poinciana Plaza in Palm Beach and a resort outpost at The Ritz-Carlton in Naples. Jetter had not responded to media requests Monday afternoon. Jetter claims that Marissa Collections disregarded contractual obligations and used 'confidential business information and trade secrets 'as free market research in a territory that was otherwise unfamiliar to them.' Marissa Collections' summer outpost on Nantucket will be located two-tenths of a mile from The Vault. A 2024 confidentiality and non-compete agreement was submitted with last week's filing, as was one from 2023. Jetter claims that Marissa Collections' CEO assured her that the company would never independently operate a store on Nantucket without her, since Nantucket was her 'territory.' Jetter alleges that violates an agreement not to compete within a 50-mile radius. The Nantucket store owner said she provided proprietary information to the Florida company including 'detailed sales data and forecasts, profit margin models and strategies, employee compensation details and seasonal revenue patterns,' among other market analyses. She alleged that the multi-location company and the Hartingtons kept that material for 'improper use' and have refused to provide a certification of destruction of The Vault's confidential information. In addition, Jetter alleged that the defendants had no intention of honoring their agreements or pursuing a transaction with The Vault. Best of WWD The Definitive Timeline for Sean 'Diddy' Combs' Sean John Fashion Brand: Lawsuits, Runway Shows and Who Owns It Now What the Highest-paid CEOs at U.S. Fashion and Retail Companies Make Confidence Holds Up, But How Much Can Consumers Take? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
