Editor’s Note
Tiffany & Co., under LVMH, is embarking on a strategic shift to elevate its watchmaking to the prestige of its iconic jewelry, signaling a major ambition to redefine its presence in the luxury watch market.
Tiffany & Co., the LVMH brand, aims to make its watches as high-quality as its jewelry. This is the background to a strategic turnaround.
Luxury king Bernard Arnault spent nearly $16 billion to acquire the American jeweler Tiffany & Co. It was, at least on paper, a top-tier strategic move: just over four years ago, he deprived the Swiss number one in the jewelry business, Richemont, of any relevant development opportunities on its home turf in one fell swoop.
The only problem is: So far, Tiffany & Co. has primarily cost him money. Although Arnault has invested heavily in the brand, which at the time appeared rather dusty, success has been elusive. Figures are circulating indicating that Tiffany lost around 30 percent in revenue in 2024, even though the American luxury market has by no means collapsed.