Now that the acquisition of Tiffany & C° is complete, LVMH’s Bernard Arnault is wasting no time, replacing a significant part of Tiffany’s executive management with LVMH insiders. The luxury conglomerate has appointed Anthony Ledru as CEO, who stood at the helm of LVMH’s Louis Vuitton up until recently, effective immediately and Arnault’s own son, Alexandre as executive vice president, product and communications. Another high profile exec, Michael Burke, current chairman and ceo of Louis Vuitton will be chairing Tiffany’s board of directors.
To celebrate the 2022 reopening of its flagship store on Fifth Avenue, Tiffany & C° recently announced they plan to sell a remake of a vintage (1939) necklace, which includes a giant D-colored flawless 80-carat center stone, originally mined in Botswana. Tiffany boasted record holiday sales figures yesterday with a 2% increase y-o-y compared to the same period (Nov 1- Dec 31) in 2019. Main drivers for the exceptional results are 50% increase in sales in Mainland China, 20% if you consider net sales in the Asia-Pacific region as well as an 80% increase in online sales.