French luxury goods group LVMH plans to overhaul Tiffany & Co’s vast merchandise lineup to increase the focus on gold and precious gems and take its silver bangles upmarket after closing the $15.8 billion takeover of the U.S. jeweller this month.
Six sources, including two people with inside knowledge of Tiffany’s operations, told Reuters the owner of Louis Vuitton would also likely revamp the appearance of the jeweller’s stores and boost its presence in Europe and Asia.
More than a third of Tiffany’s 320 shops are in the United States and two sources described some of them as out-of-date, shoddy and in need of refurbishing.
Source: Reuters