Rumors that luxury behemoth LVMH is eyeing Tiffany have boosted Tiffany’s stock. Neither company will comment, but the rumors, mentioned by Reuters and the Wall Street Journal, caused Tiffany’s shares to jump 7 percent in one day.

LVMH owns luxury brands like Louis Vuitton and Chaumet, but its main foray into the jewelry industry has been De Beers Diamond Jewellers, its partnership with De Beers.