The storied jeweller was LVMH’s biggest acquisition. Bringing the brand into the future falls to Bernard Arnault’s 30-year-old son and potential heir, Alexandre.
Ever since he transformed Louis Vuitton from a venerable maker of steamer trunks into a handbag juggernaut more than 30 years ago, Bernard Arnault has pursued a simple yet lucrative strategy: buy respected but slightly fusty brands; freshen up their management, marketing, and operations; and weave them into the ever-expanding luxury tapestry known today as LVMH Moët Hennessy Louis Vuitton SE.
“There are a lot of eyeballs looking” at the Tiffany turnaround, says the younger Arnault during an interview in London, where the jeweller is celebrating the 150th anniversary of Tiffany in the UK capital with an exhibition of 400 objects and high-end pieces. As for his father’s attention, “whether you’re No. 1 or No. 75, you’re still under his gaze,” his son says.Among the Arnault offspring, Alexandre is often described as the most entrepreneurial.
Tiffany will release a new watch model before the end of next year, having recruited a former Chanel executive to oversee the business. A new leather handbag by a former Marc Jacobs and Louis Vuitton designer will be out before the end of this year, Alexandre says. And while silver lines – notably its Return to Tiffany and heart bracelets – will remain core offerings, there’s room to experiment, like the recent collaboration with streetwear brand Supreme on some jewellery items, he says.
Offering high-end products matters, says Stanislas de Quercize, the former chairman in France of Richemont, the luxury house that owns such brands as Cartier and Van CleefArpels. While affordable luxury helps bring in customers, successful branding thrives on “prices that make you dream,” he says. “What you want is a stairway to heaven. Tiffany was more like a stepladder.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why this fundie cashed in his Magellan shortQuest’s Richard Dixon shares which sectors he’s shorting, why the lithium sell-off has revived value in the sector, and why NAB is his only big four holding.
Read more »
Sending a dangerous message to young fansReaders discuss football, including players’ behaviour, concussion and why fans aren’t going to matches.
Read more »
Could the fake electors scheme prove to be Trump campaign’s Achilles’ heel?The justice department is investigating whether the Republicans who signed as electors could be charged
Read more »
Man charged over 'random' stabbing of four people in AucklandNew Zealand police have laid charges after an alleged stabber attacked multiple people at Auckland's Murrays Bay. 9News
Read more »
Hostplus cuts a cheque for Apollo Global’s new APAC credit strategyTurns out there was an immediate reason why Apollo Global Management’s dealmakers were jumping on flights to Australia.
Read more »
Blue moon: Why Tedesco’s shorts keep falling downNSW captain James Tedesco on why his shorts are continually pulled down during games - and whether it’s harder to catch a kick from Nathan Cleary or Matt Burton.
Read more »