Tiffany & Co
With a New Management Team
It is no secret that Tiffany & Co became a part of its acquisition by LVMH. It is therefore a logical step that LVMH is trying to get its representatives into the management. Speculation leads to the names of Alexandre Arnault and Anthony Ledru. They should be at the forefront of Tiffany & Co. Anthony Ledru was appointed CEO of Tiffany & Co., replacing Alessandro Boglioli, while Alexandre Arnault became executive vice president of products and communications.
He retained his position as CEO in Rimowa, where he will be replaced by Hugues Bonnet-Masimbert, Brand Executive Vice President of Sales and Client Operations; Michael Burke, CEO, and Chairman of Louis Vuitton will also become Tiffany's Chairman of the Board. The descendant of the French luxury conglomerate LVMH will lead the newly acquired company Tiffany & Co. with Louis Vuitton, head of global business activities. Alexandre Arnault, the second eldest son of billionaire Bernard Arnault, is already the CEO of the suitcase brand, Rimowa, and is joined by Anthony Ledru, who had extensive experience managing jewelry brands such as Cartier and Harry Winston before joining the company.
LVMH founder Bernard Arnault has many times named his children to the highest positions in society; Antoine leads Berluti and the company's image and communications division; His daughter Delphine as executive vice president of Louis Vuitton, while another son Frederic leads Tag Heuer. Alexandre Arnault (28) reached the top of the luxury industry when he was appointed CEO of Rimowa in 2017 after playing a key role in LVMH's decision to buy an 80% stake in a German suitcase brand - at the time of closing the deal he was only 24 years - making it the company's first acquisition in Germany.
Despite the current stagnant economy, Rimow, under Alexander Arnault, is opening new stores with a concentration in Asia, especially in China. In 2020 alone, six new stores were opened in China, four in South Korea, and the remaining two in Thailand and Taiwan. Arnault brings new perspectives to Rimowa and its parent company LVMH and is now adding Tiffany & Co. to its profile, it would be interesting to see how it will lead an American jeweler. Way to secure an agreement between LVMH and Tiffany & Co. it was not easy considering how much was done there and back. Lawsuits have been filed, talks have taken place, and a deal was finally reached last December, and the US jewelry store was bought for $ 16 billion - the largest transaction in the industry.