why Tiffany is still the world
Thebiggest ever acquisition for LVMH has finally been completed, as the French luxury goods conglomerate buysTiffany Co ina deal valued at $15.8 billion. After a rocky series of negotiations, the deal went throughat a reduced price of $131.50 per share.
The takeover means a new leadership team for the American jeweller. Anthony Ledru,previously executive vice president ofglobal commercial activities at Louis Vuitton, is the new CEO, while Alexandre Arnault, previously CEO of luggage brand Rimowa and the son of replica louis vuitton LVMH chairman and CEO Bernard Arnault, has been announced as executive vice president of product and communications. Michael Burke, Louis Vuitton’s chairman and CEO, will become chairman of Tiffany Co’s board of directors. Tiffany’s current CEO,Alessandro Bogliolo, will leave the company on January 22, 2021.
The group also announced that Reed Krakoff, chief artistic director, and Daniella Vitale, executive vice president and chief brand officer of Tiffany, will be leaving after a “short transition of responsibilities”.
In November 2019 it was announced that LVMH had agreed to purchase the American jewellery house for $135 per share (totalling $16.2 billion), fake designer bags but in September 2020, it was revealed that the deal was off, with the two companies engaged in a legal battle. Rumours that the merger might not go ahead began in March 2020, as the luxury market began to feel the effects of the Covid 19 pandemic.
Now, the deal has been finalised after LVMH negotiated a saving of $425 million on the original sale price.
Bernard Arnault, chairman and chief executive officer of LVMH, said in a statement: “I am pleased to 1:1 replica handbags welcome Tiffany and all their talented employees in our group. Tiffany is an iconic brand and a quintessential emblem of the global jewellery sector. We are committed to supporting Tiffany, a brand that is synonymous with love and whose Blue Box is revered around the world, with the same dedication and passion that we have applied to each of our prestigious Maisons over the years.”
The merger will offer LVMH, whose stable of fine jewellerybrands also includes Bulgari, Chaumet and Fred, a strong foothold in the US market. And while Tiffanyhas reported lacklustre annual sales and profits for a few years, its brand power has replica louis vuitton bags from china never been in doubt.
Its name, logo and distinctive blue branding is recognised the world over; alongside Cartier, it’s one of the two Fake Louis Vuitton Replica Bags fine jewellery brands to consistently make the top 100 in Interbrand’s annual Best Global Brands rankings.
So how did Tiffany become so iconic?Audrey Hepburn has a lot to answer for. The 1961 film Breakfast at Tiffany’s which begins with Holly Golightly gazing into the windows of the brand’s Fifth Avenue flagship store, coffee and croissant in hand remains one of the most memorable images in film history. Hepburn was draped in Tiffany diamonds for the film’spublicity shots cheap louis vuitton bags from china and, for generations of would be society women, owning a Tiffany diamond remains the ultimate aspiration.
Those little blue boxes
Few brands can claim a Pantone colour as their own. ‘Tiffany Blue’ refers to the replica louis vuitton handbags specific shade of robin’s egg blue, first used on the cover of Tiffany’s Blue Book jewellery catalogue aaa replica designer handbags in 1845. Used throughout the brand’s packaging, advertising and branding, Tiffany trademarked the shade in 1998 and it’s one of the most instantly recognisable colours in the luxury world. New York”. The Return to Tiffany design originated in a silver key ring, introduced in 1969.
It’s just one example ina long list of Tiffany jewellery designs that can accurately be described as ‘iconic’: from the high quality designer replica handbags wholesale open heart andbean Designer Louis Vuitton Replica Handbags designs by Elsa Peretti, a rite of passage for 18th or 21st birthdays and graduations, to its ‘diamonds by the yard’, Tiffany Keys and Jean Schlumberger rope designs.
Tiffany Co is also a go to brand for engagement rings, thanks to its signature Tiffany Setting, introduced in 1886. The company was the first to elevate a diamond above the metal band, using a distinctive six prong setting, allowing more light into the stone and thus making it sparkle more intensely. Savvy marketing has seen engagement rings and Tiffany blue boxes go hand in hand ever since.
A prestigious history
Founded by Charles Lewis Tiffany in 1837, the Tiffany Co brand is built on over 180 years of jewellery making expertise. It has claimed some stonking stones including the Tiffany Diamond, a 128.54 carat yellow diamond that was worn by Hepburn while promoting Breakfast at Tiffany’s and, 58 years later, by Lady replica louis vuitton bags Gaga at the 2019 Oscars. Kunzite, morganite, tanzanite and tsavorite were all discovered and named by Tiffany’s gemologists, while Charles Lewis Tiffany also bought a third of the French crown jewels in 1887.
His successor, Louis Comfort Tiffany, paved the way for the company’s rich design history. Over the years Tiffany enlisted artists and designers including Elsa Peretti, Paloma Picasso and Jean Schlumberger, all of whom created pieces still considered iconic today. Its strategy is to attract younger, millennial and Generation Z consumers. Chief artistic officer Reed Krakoff, who took over from Francesca Amfitheatrof in 2017, aimedto do so by, he says, “loosening the formality of diamonds”, creating diamond dusted pieces women can wear with jeans and t shirts, every day. A Tiffany representative told me recently that last year, over a million people joined the waiting list for a table. And with another Blue BoxCafe opening at Harrods earlier this year, it seems the appeal of having breakfast at Tiffany’s is stronger than ever.
Mass and high end appeal
The secret of Tiffany’s success has alwaysbeen in its democratic blend of accessible luxury sterling silver jewellery, key rings and accessories with ultra high end diamond jewellery. The brand’s annual Blue Book high jewellery collection, named after those original mail order catalogues, showcases the most exceptional stones and one of a kind designs, with prices reaching seven figures. Meanwhile, Reed Krakoff has also focused on expanding the house’s line of ‘everyday objects’ replica louis vuitton bags replica louis vuitton bags cheap louis vuitton bags from china uk , with dog bowls and leads, alarm clocks, yo yos and metal straws all given the Tiffany blue touch.