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Tiffany’s Staff Exits Test LVMH’s Turnaround Playbook

Ambitious sales targets and lower commissions for some salespeople have led them to defect for competitors, taking some of their loyal clients with them.
Tiffany's new fifth avenue flagship store.
While revenue at Tiffany has increased under LVMH, some recently departed employees said the jeweller set sales targets they say were unachievable. (Tiffany)
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BoF PROFESSIONAL

LVMH’s $16 billion purchase of Tiffany & Co. transformed the luxury goods powerhouse into one of the biggest jewellery sellers in the world. Three years later, the most expensive luxury acquisition on record doesn’t appear to be going according to plan.

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Further Reading

What’s Next for Tiffany Under LVMH

The brand on Monday revealed its 2023 “Blue Book” collection of high jewellery, a series of intricate pieces priced upwards of $75,000 that marks the brand’s first high jewellery collection since bringing on former Cartier designer Nathalie Verdeille as chief artistic officer in 2021, as well as the first collection fully developed under LVMH.

Tiffany, Dior: Understanding the New Model for Luxury Flagships

There are stores, there are flagships, and then there are mega projects like Dior’s Avenue Montaigne, Chanel’s Rue Cambon and Gucci’s Garden that go a step further in driving revenue and creating a lasting impression with shoppers. On Friday after a four-year renovation, Tiffany will make its case to be added to that list.

Why LVMH Is Betting on Lab-Grown Diamonds

For years, luxury’s biggest jewellers have dismissed synthetic diamonds as inauthentic. But an investment by LVMH’s venture fund in lab-grown diamond company Lusix suggests this calculus may be changing alongside consumer interest in ethical and sustainable products.

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