LVMH Moët Hennessy Louis Vuitton SE has recently acquired Tiffany & Co. This leads life-long Tiffany consumers to wonder what this French conglomeration will change about this beloved American brand.
Since 1837, Tiffany & Co. has been a staple in American luxury. However, for Anothony Ledru, the CEO of LVMH, Tiffany has fallen from its luxury title. Erwan Rambourg, the head of consumer and retail research at
The Hongkong and Shanghai Banking Corporation Limited agrees with Ledru, stating, "[Tiffany's] want to compete with Cartier, not with Zales" (Wall Street Journal).
LVMH will begin to make changes to Tiffany & Co. the week of January 22nd. They have already started updating store locations, including their Fifth Avenue Flagship Store in New York City (Forbes). They will slowly transition out their affordable silver pieces and introduce more luxurious pieces.
Sources:
https://www.wsj.com/articles/tiffanys-new-french-owner-brings-a-makeoverand-a-culture-clash-11640264191
https://www.forbes.com/sites/walterloeb/2021/08/02/these-changes-could-revamp-the-tiffany--co-brand/?sh=5bc31b152100
Photo Source:
https://www.linkedin.com/in/dominick-charles-soliz-a4941117
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