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13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsNov 19, 2019
Tiffany’s Head Merchandiser to Depart After 25 Years
SVP and Chief Merchandising Officer Pamela Cloud will step down later this month, and the company is creating a new position—chief brand officer.
Tiffany & Co.’s New York City flagship. The jeweler said in SEC filing Monday that longtime SVP and head merchandiser Pamela Cloud is leaving and it is creating a new position, executive vice president and chief brand officer.
New York—Tiffany & Co. has created a new role, executive vice president and chief brand officer, as its longtime chief merchandising officer departs, an 8-K filed Monday shows.
The jeweler said in the form filed with the Securities and Exchange Commission that it expects an outside candidate to fill the role, which was designed to better align its global merchandising and marketing strategies.
The announcement came alongside news that Pamela Cloud, senior vice president and chief merchandising officer, is leaving the company.
Cloud joined Tiffany in 1994 and has been responsible for managing the jeweler’s key product categories and global merchandising operations.
She will step down as of Nov. 26 and leave the company in July following a transition period.
The company’s senior merchandising officers will report directly to CEO Alessandro Bogliolo until the position is filled.
Tiffany did not respond to National Jeweler’s request for additional comment on Cloud’s departure.
The management change-up comes at a time when reports have surfaced detailing a potential acquisition by luxury conglomerate LVMH Moët Hennessy Louis Vuitton.
Tiffany confirmed last month it had received an unsolicited bid from LVMH for $120 per share, valuing the deal at approximately $14.5 billion.
Later reports indicated Tiffany asked LVMH to raise its acquisition offer, arguing that the company was being undervalued.
LVMH’s portfolio spans fashion, cosmetics, wine and spirits, and jewelry and watches, including brands like Louis Vuitton, Christian Dior, Bulgari and TAG Heuer.
Also this week, news surfaced about the pending renovation of the retailer’s iconic flagship store.
The store will undergo a massive renovation that’s set to begin after the holidays.
It opened on the corner of 57th Street and Fifth Avenue in 1940 and encompasses 10 stories. At the beginning of 2020, Tiffany’s flagship will temporarily relocate to 6 E. 57th St., and breakfast at Tiffany’s will come to a halt.
The New York Post’s Page Six reported Monday that the store’s Blue Box Cafe will not reopen in its temporary location, remaining closed until the flagship reopens in 2021.
The cafe opened in November 2017 on the fourth floor of the flagship.
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