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Wednesday, May 13, 2020

From Stationery to Coffee Mugs: Tiffany & Co. Launches a New Homewares Collection



Tiffany & Co. won’t be ditching the diamonds anytime soon, but America’s most famous jeweler is branching out.
Tiffany & Co. stationary
Tiffany & Co.’s envelope and stationary.  Courtesy of Tiffany & Co.

Tiffany & Co. mugs Image Courtesy of Tiffany & Co.


Partially encouraged by the success of its recently launched men’s collection and a pop-up in Harrod’s, the company is delving even deeper—into homewares. From tableware to scented candles and fragrances to stationary, it’s now possible to outfit nearly every facet your home or office in Tiffany blue.
That’s because many of the products in the lineup riff on the label’s signature shade. Several of the ceramic pieces included in the offering––a bone china teapot, mugs printed with a map of Manhattan and glazed dog dishes––incorporate the iconic hue. Many of the items in the collection were first introduced in the London installment of the jeweler’s Blue Box Cafe, which allows diners to feast a la Holly Golightly. Even an etched wine glass and coordinating champagne flute in crystal are tinted with the pale blue shade.
The collection also has something for customers who want to elevate their game—literally. A beautiful travel poker set, housed in a leather case, comes stocked with porcelain poker chips. And those with access to a pool table may find themselves itching to play just a bit more with the addition of a sterling silver pool cue and triangle-and-ball set.
Travelers aren’t left out, either. Part of its collaboration with luggage-maker Globe-Trotter, Tiffany now has a range of trunks that spans from a mini size all the way to a rolling “trolley,” all of which come with leather detailing. You can even use a new branded luggage tag to make sure your bags are easy to spot on the airport carousel. Should you get cold while on a long-haul flight or just need to power nap until you reach your destination, a silk sleeping mask (which comes with its own silk case) and a 100 percent cashmere blanket set are sure to make the ride more comfortable.
See more images from the range below. Head over to the Tiffany & Co. website to view even more new pieces.
Tiffany & Co. scented candles
Courtesy of Tiffany & Co.
Tiffany & Co. pen
Courtesy of Tiffany & Co.
Tiffany & Co. fragrance
Courtesy of Tiffany & Co. 


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Tuesday, December 3, 2019

LVMH Buys Tiffany in $16 Billion Deal

The French luxury conglomerate is betting that it can restore shine to the faded American jeweller and boost its watches and jewellery division.
Tiffany storefront | Source: Shutterstock
Tiffany storefront | Source: Shutterstock
PARIS, France — Luxury giant LVMH Mo√ęt Hennessy Louis Vuitton SE has reached a $16.2 billion deal to buy American jeweller Tiffany & Co.
The two companies announced Monday that they had entered an agreement for LVMH to acquire Tiffany for $135 a share — a multi-billion dollar bet that LVMH can restore Tiffany’s faded shine.
In a call Monday, LVMH Chief Financial Officer Jean-Jacques Guiony described the deal as a “game-changer” for the conglomerate’s watches & jewellery segment, batting away concerns over Tiffany’s near-term performance.
“We strongly believe that LVMH is not only an ideal owner for Tiffany but also that this iconic brand is a perfect addition to our portfolio and perfect complement to our existing model,” Guiony said.
The all-cash acquisition is one of the largest ever for the French conglomerate known for its hard-charging deal making and surpasses its $13 billion deal for Christian Dior in 2017. The announcement ends a month of speculation, after reports that LVMH had approached the jeweller leaked in October. LVMH initially offered $14.5 billion for Tiffany, according to Reuters, but the company said the offer was too low.
That wasn’t the first time LVMH — Europe’s second-most valuable company, with a market capitalisation surpassing €200 billion — had set its sights on Tiffany. The conglomerate reportedly expressed interest in the jeweller prior to its takeover of Bulgari in 2011 — LVMH's last major investment in hard luxury.
The storied American brand has resisted acquisition for years, but as one of the few independent global jewellery houses remaining in the market, analysts had long speculated that it would make an attractive, if expensive, target.
But Tiffany has had a difficult time lately. In the first half of 2019, worldwide net sales at Tiffany decreased 3 percent to $2.1 billion. The American jeweller is facing weak demand at home and abroad, and will likely need heavy investment to re-energise its brand and business.
We are optimistic that we can, with this fabulous brand, increase the revenues further and expand the margins.
It’s been updating its store experience, and recently hired former Barneys chief executive Daniella Vitale to reposition its brand identity. While the company continues to grow in China, it has struggled to win over Millennials and Gen-Z consumers in the West, as young shoppers move away from traditional occasion-based gifting and as self-purchasing gains popularity.
“Within LVMH, Tiffany will be able to accelerate its ongoing strategy,” Guiony said. “We are optimistic that we can, with this fabulous brand, increase the revenues further and expand the margins.”
The deal will bring LVMH’s substantial financial and market clout to help support Tiffany’s ongoing transformation efforts. At the same time, it boosts the French company’s presence in the US market.
Last month, LVMH Chief Executive Bernard Arnault had a controversial photo-op with President Donald Trump at the opening of a new Louis Vuitton handbag factory in Texas, doubling down on the country.
The deal also allows LVMH to gain further ground on Swiss conglomerate Richemont, which has long dominated hard luxury with its ownership of Cartier and Van Cleef & Arpels. Jewellery was one of the best-performing luxury categories in 2018, according to Bain & Co, which predicts that the global $20 billion market will grow 7 percent this year.
Acquiring Tiffany gives LVMH a greater degree of control over its hard luxury supply chain. That’s an increasingly desirable trait for luxury brands, under pressure to guarantee provenance and lock in supply in a competitive market. Tiffany employs more than 5,000 artisans to cut diamonds and craft its jewellery, rather than buying from middlemen.
Going forward, LVMH is eyeing the opportunity to expand Tiffany’s market penetration internationally. The brand only generates 11 percent of its revenue in Europe, for instance. Longer term, the deal opens up the prospect of new product categories for the jeweller. While Guiony said watches wouldn’t be a big focus near term, it would be “foolish” not to dabble into accessories including leather goods and scarves, as they successfully did with Bulgari.
“This is good news, and somewhat expected,” said Bernstein analyst Luca Solca. The deal is priced slightly above expectations, but “still good news for both shareholder bases.”
LVMH’s shares were up nearly 2 percent in market closing trading. The deal is expected to close in mid-2020 subject to approval from Tiffany’s shareholders.

Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholder’s documentation guaranteeing BoF’s complete editorial independence.

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