Tiffany & Co. is firing on all cylinders under its new owner LVMH, and it’s just the beginning. Two years after being acquired by the French luxury giant for $16 billion, the New York jeweler has seen the sales of its high jewelry rocket. Its average selling price has doubled and demand for its new “Lock” collection has grown solidly, its chief executive told Miss Tweed in an exclusive interview.
Tiffany is following a similar strategy to Louis Vuitton, who havejust hired pop star Pharrell Williams as creative director for menswear. The two brands share the vision of LVMH boss Bernard Arnault, who believes luxury is about selling culture. While Louis Vuitton plans to wow the crowds with Pharrell’s creativity, Tiffany will stand out by teaming up with Beyoncé, queen of pop music. They have already done witty things like releasing joke campaigns about yellow being the new official color, as well as collaborating with sports brands such as Nike.
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