The sale of Tiffany & Co to the LVMH conglomerate goliath has finally gone through after more than a year of hurdles, legal wrangling and more than a little bad blood.
Now that the American jeweller is officially part of the luxury French goliath’s portfolio, immediate changes are afoot to reshape the brand, including a serious executive overhaul that promises an even brighter future for the famed brand.
Following what proved to be a rather bitter transition it comes as little surprise that the new executive appointees are LVMH insiders, including a son of its chairman – Bernard Arnault.
The new structure sees Anthony Ledru appointed as CEO of Tiffany, following his role as executive vice president, global commercial activities, at LVMH-owned Louis Vuitton. While very much a LVMH loyalist, Ledru also has plenty of fine jewellery experience having worked for Cartier, Harry Winston and even as senior vice president of North America for Tiffany from June 2013 to December 2014.
Joining Ledru is Alexandre Arnault – the son of LVMH’s boss Bernard – who joins following a hugely successful stint as CEO of LVMH-owned luggage brand Rimowa steering the brand in new, fashion-forward directions with multiple collaborations, include one with Supreme.
Arnault junior joins as Tiffany’s executive vice president, product and communications and the industry will be watching closely to see if he can repeat his accomplishment.
The back-and-forth saga between the purchase of Tiffany & Co. went on for most of last year, until finally in October 2020 when LVMH lowered the price of the deal – to around US$16 billion.
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