Tiffany & Co. chief executive officer Anthony Ledru is a man fast on the move. In his first year on the job, the tenured luxury executive has been hot-pressed to revitalize Tiffany — a brand he labeled an “American cultural icon.”
What Ledru brands as “inherited” was, of course, the largest luxury acquisition in history — which saw Tiffany’s new parent company, LVMH Moët Hennessy Louis Vuitton, purchase the American jeweler in a $15.8 billion deal that resulted it being delisted from the stock market. In January 2021, Ledru arrived as the jeweler’s CEO from Louis Vuitton, where he was most recently executive vice president for global commercial activities.
“We move quickly — I believe that moving with speed and being efficient is not an enemy of success,” Ledru said of his targeted timeline. Tiffany’s current staff, he explained, was strategically assembled with this in mind. Particular attention was paid to individuals coming from the wider fashion industry, who Ledru believed could bring a faster pace of thinking.
A quick search revealed that the jeweler purchased the necklace in November via auction at Sotheby’s for $3.6 million , which is significantly higher than its $100,000 to $200,000 anticipated price. Ledru said if another one presented itself on the market, he would buy that one, too — just one example of the level of resources he has been given to succeed in his mission.
On the larger front, Botanica — with future iterations to be unveiled in London in June and select cities in China beginning in October — looks to floral iconography as a means to “lift up extraordinary gemstones,” said Tiffany chief gemologist Victoria Reynolds, who spearheads the annual collections.
The best example of the collection’s design ingenuity, however, is its “dandelion” section, in which three different cuts of diamond fan outward to create a sense of lightness, shape and texture. “When you blow on a dandelion, it disperses and goes all over — we thought diamonds were the perfect gemstone for this,” said Reynolds.
Tiffany’s signature sterling silver offering, often seen as a rite of passage for young consumers, will be part of that mission through fashionable, experimental product. LVMH has already put in efforts to elevate that offering and released a collaboration with Supreme in November that sold out. Prices of Tiffany sterling classics have also seen steep increases, with its classic heart bracelet and necklace now retailing for $575 and $800, respectively .
While fine jewelry will continue to speak to Tiffany’s heritage, its positioning via marketing and advertising will be geared toward new generations. “It needs to talk to them,” Ledru said. When the campaign was revealed in August, Arnault told WWD: “[Beyoncé is] the best singer in the world, and [Jay-Z is] the best rapper in the world, hands down. And we’re the best jewelry company in the world, right? So we kind of had to marry ourselves together to produce this.” He labeled the company’s investment in the project as “impressive.”
A first look at Tiffany’s new offering in this space will be unveiled in late 2022, with more to follow in 2023. “We have a strong team of experts who know gifting and home is a big part of what we used to do in the past. We really think about silver accessories is a big space, small leather goods, handbags. We want to preserve the tradition of, if you come to Tiffany, you will leave with a Blue Box,” the executive said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Maserati to launch three EVs in 2023 and axe Ghibli | AutocarItalian premium brand has outlined electrification plan and announced 41% sales increase for 2021
Weiterlesen »
Congress members concerned SEC stifling innovation with crypto scrutinyA bipartisan letter put forward by Minnesota Congressman Tom Emmer, co-signed by seven other members of Congress, has outlined problems with the Gary Gensler-led SEC’s scrutiny of cryptocurrency firms.
Weiterlesen »
Historic San Antonio house to be demolished after fire; owner says it would cost $1 million to repairThe Historic and Design Review Commission agreed to let the owner of a landmark historic...
Weiterlesen »
Battle over Native American burial site in Virginia ends in tribal victoryA four-year battle between a Native American tribe and a Virginia water authority has ended after both parties agreed on a new location for water facilities, the tribe announced.
Weiterlesen »
Four Seasons announces Saudi Arabia propertyHospitality group Four Seasons Hotels and Resorts and Diriyah Gate Development Authority (DGDA) have unveiled plans for a new luxury hotel in the historic Saudi Arabian town.
Weiterlesen »
MoonPay's CEO has a new plan for generating NFT hype: donating themMoonPay CEO Ivan Soto-Wright will donate a personal NFT collection worth more than $1 million to charitable causes.
Weiterlesen »