Tiffany has been struggling to boost its sales, especially in its largest market, the Americas. Consumers are now spending more on accessories, more inclined to buy those affordable, niche brand, which is the former CEO Frederic Cumenal resignation of the important reasons.
In February, Tiffany and the rights investor Jana Partners (who joined the Italian luxury jewelry brand Bulgari family heir, former CEO Francesco Trapani jointly acquired Tiffany about 5.1% of the outstanding shares) reached an agreement, Tiffany board of directors added three independent directors: Roger Farah, James Lillie and Francesco Trapani.
The current chairman and interim CEO Michael Kowalski said that this quarter Tiffany price of less than $ 500 jewelry sales performed well, the company will continue to increase the category of products. In addition, the sales of gold accessories led to the growth of fashion jewelry sales growth.