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Jewellery icons: Elsa Peretti designed both the Open Heart and Starfish necklaces, some of Tiffany's most iconic pieces The company said it has made an offer to buy the designer's intellectual property, however according to the report filed by Tiffany, the two sides cannot come to an agreement on a price. Since 2009, Ms Peretti's designed jewellery has accounted for ten per cent of Tiffanya€™s net sales, and in 2011, Tiffany reported revenues of $3.64 billion.

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. After the six-month period, Tiffany would have one year to sell any Ms Peretti-designed products on hand or on order.

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