The trademark and website domain for the phrase ‘Diamonds are a girl’s best friend’ fetched £39,100 at an auction of assets belonging to Nirav Modi’s US businesses.
A Jaffe andf Firestar Diamonds, two of Nirav Modi’s former companies, owned the intellectual property. The two businesses declared bankruptcy in February after the billionaire jeweller became the subject of a fraud investigation. Its inventory and assets – including the trademark of the famous phrase – were sold in late September.
According to court filings, a brand-management company that owns the Marilyn Monroe estate acquired the intellectual property related to the actress and singer’s famous song title for $50,000 (£39.1K) last month.
The purchase by ABG Intermediate Holdings, which trades as Authentic Brands Group (ABG), covers several trademarks registered in the US, Canada, the European Union and with the World Intellectual Property Organization, as well as relevant internet domain names — including diamondsareagirlsbestfriend.com — and a video-game registration.
According to Rapport, ABG originally offered $25,000, but later doubled the amount after the trademark was declared unsold.