Latest news with #AnthonyLedru
New York Times
20-05-2025
- Business
- New York Times
Tiffany Has Plans for a 7,500-Carat Kunzite
In late January, Victoria Wirth Reynolds of Tiffany & Company was getting ready to leave Bangkok for her next stop on a business trip through Asia when she scheduled a last-minute meeting with a gem dealer. And he showed her something that she couldn't resist: a massive piece of kunzite, the semiprecious stone named for George Kunz, who in 1879 had become Tiffany's first gemologist. Ms. Reynolds, the house's chief gemologist and vice president of high jewelry diamond and gemstone acquisition, quickly called her boss about a purchase. 'We decided in a bit more than a nanosecond,' said Anthony Ledru, Tiffany's president and chief executive. 'It was 10 seconds.' 'We thought this was such a Tiffany story,' he added. 'That's why it took zero time.' He and Ms. Reynolds recently described the conversation (although not the price or the dealer's name) as they sat in a private salon on an upper floor of Tiffany's Fifth Avenue flagship. Beside them was the stone, which totals a bit more than 7,500 carats and is about the size of a trade paperback. It had been mined in Mozambique about 25 years ago, they said. It is to be cut, once all the pieces are ordered, and made into 10 Bird on a Rock brooches, Jean Schlumberger's 1965 design for Tiffany that has since become one of its hallmarks. 'To be able to take our clients on this journey to see this and then to cut the gemstones — it was just too tempting not to do,' Ms. Reynolds said. Prices for the brooches will begin at about $300,000, she said. Clients will be able to choose among five shapes; each finished gem, which serves as the bird's glamorous perch, will be about 45 carats, or about the size of a large walnut. (Several brooches have already been ordered.) And, for the clients who want flexibility, a brooch may be made to convert into a pendant. As for the most irregular section of the kunzite gem — which looks a bit like an iceberg and represents about one-third of the total stone — it is to become a decorative tabletop piece in 2027. 'We're going to leave it rough — we're not going to cut it,' Ms. Reynolds said. 'We're really going to have fun with it.' The brand recently began presenting the brooch proposal to potential clients in New York City and plans to have the finished pieces ready by late December. Mr. Ledru said that acquiring noteworthy gems had been one of his priorities since he began running the brand in 2021. His plan, he explained, was 'to reinvest heavily in exceptional stones — not good stones, not very good stones, but exceptional stones — and we've done it.' LVMH Louis Vuitton Moët Hennessy, which acquired Tiffany in January 2021, does not disclose the annual revenue of its individual brands. But Tiffany said its sales had more than quintupled in the period between LVMH's acquisition and December 2024. Coming up with myriad iterations of the Bird on a Rock motif certainly seems to be part of the brand's recent plans, too. While an animated version appeared in a promotional video and a large bird illuminated with holiday lights perched on the Fifth Avenue building late last year, there also have been Bird on a Rock watches and a selection of Bird on a Pearl high jewelry pieces. Over the last few months alone, celebrities such as Demi Moore, Naomi Watts and Kieran Culkin have worn pieces that feature the design at red carpet events. While many jewelry houses rely on their archives for inspiration, experts say the tactic can be risky. 'It's always a delicate balance,' said Luca Solca, a senior luxury analyst at the research firm Bernstein. 'You need to have a good cocktail of tradition and innovation in this industry in order to thrive, because if you rely too much on the past then you become a museum artifact rather than a luxury brand.' But if the combination is right, there is a lot to gain. As Mr. Solca put it, 'If you are respectful of your past and bring it back in a modern and up-to-date way, that is probably one of most effective ways you can have to building the equity of the brand.'
Yahoo
28-03-2025
- Business
- Yahoo
Tiffany & Co.'s Latest High Jewelry Campaign Zeros In on Craft and Legacy
Tiffany & Co. has unveiled its latest high jewelry campaign, featuring the brand's iconic Bird on a Rock brooch, alongside one-of-a-kind creations from the Blue Book 2024: Tiffany Céleste collection. 'The new Tiffany high jewelry campaign is a celebration of our house's past, present and future. It showcases the extraordinary work of Jean Schlumberger, whose designs have become synonymous with elegance and creativity, as well as our latest collection, which represents the pinnacle of Tiffany craftsmanship and innovation,' president and chief executive officer Tiffany & Co. Anthony Ledru said in a statement. More from WWD Tiffany & Co. Debuts Flagship in Mexico City Tiffany & Co. Cuts the Ribbon on a Reimagined Taikoo Li Flagship in Chengdu EXCLUSIVE: Chopard's Insofu Emerald Yields High Jewelry Collection - and Matching Couture Photographed by Carlijn Jacobs, according to the brand the campaign is a contemporary interpretation of some of its most iconic high jewelry images, reimagining them through a modern lens. Jacobs' creative vision took inspiration from the 'Tiffany Style' book by John Loring, and its Tiffany high jewelry from the 1950s and '60s, as well as the photography of Hiro, who captured iconic images featuring some of the brand's most celebrated designs. Since being acquired by LVMH Moët Hennessy Louis Vuitton in 2021, Tiffany & Co. has doubled down on its high jewelry heritage with an increasing number of experiential sales events for wealthy clients. Last year, the maison hosted multiple global high jewelry activations, including Blue Book events in Los Angeles, Tokyo, New York, Paris, Hong Kong and more. The glow of Hollywood has been an important part of raising the legacy jeweler's profile with multiple pieces seen at the 2025 Oscars, including on Best Actress winner Mikey Madison. The Bird on a Rock high jewelry brooch featured in the latest campaign — an emblematic Tiffany & Co. creation — showcases pear-shaped and round brilliant diamonds along with custom-cut baguette diamonds. Completing the creation, the house's artisans mounted the diamond bird motif on a D-color, cushion-cut diamond of over 25 carats. Another one-of-a-kind piece in the campaign, the Shooting Star necklace, features a center stone: a D-color, internally flawless emerald-cut diamond of over 18 carats. According to the house, the piece was designed to evoke the celestial beauty of a shooting star. Timepieces are featured, too, continuing the momentum from LVMH watch week in New York at the start of 2025 where Tiffany's high jewelry watchmaking novelties were revealed alongside other sister brands in the LVMH stable. The new campaign debuts Friday in print and Tiffany & Co.'s website and social channels. Best of WWD A Brief History of Cartier's 'Love' Fine Jewelry Collection A Look Back at Kate Middleton's Cartier Wedding Day Tiara on Her 13th Wedding Anniversary: A Brief History of the Royal Family's Tradition David Yurman Files Lawsuit Against Mejuri, Alleging 'Serial' Copying
NBC News
31-01-2025
- Business
- NBC News
LVMH watch and jewelry CEOs see luxury sales picking up in 2025
After a year of declines, sales of watches and jewelry at luxury giant LVMH rebounded in the latest quarter and continued to shine into January, according to several of the company's brand CEOs. In its earnings call this week, LVMH reported that sales for its watches and jewelry group increased 3%, after falling in the previous quarters. The division outperformed the company's core fashion and leather goods segment, which was down 1% during the quarter, as well as wine and spirits, which declined 8%. In interviews during LVMH Watch Week in New York, the CEOs of several of the conglomerate's watch and jewelry brands said they're increasingly optimistic about 2025. While China remains slow, they said a rebound in spending by Americans — both in the U.S. and Europe — is driving strong demand for both watches and jewelry. 'I have to say that I've been positively surprised by the start of the year,' said Jean-Christophe Babin, CEO of Bulgari, which is owned by LVMH. Anthony Ledru, the CEO of Tiffany & Co., which LVMH acquired in 2021, said he's also seeing renewed consumer confidence among the American wealthy after the U.S. presidential election. 'I think it brings clarity and probably a greater consumer confidence,' Ledru said. 'We need that feel-good factor to succeed in the luxury world.' Of course, there are risks to the bright outlook. U.S. tariffs are the big unknown for high-end watches, which are mostly made in Switzerland, as well as for French luxury goods. The Trump administration has threatened across-the-board tariffs in Europe. Yet for now, watch and jewelry makers are launching a barrage of new products in hopes of a strong 2025. Louis Vuitton's watch division launched its new 'Tambour Taiko Spin Time' collection, which features 'jumping cubes' for numbers that were inspired by old airport flap displays. The company's Gérald Genta line launched the new 'Gentissima Oursin Fire Opal,' made from 137 orange and red opal gems, mined from Mexican volcanoes. Jean Arnault, director of Louis Vuitton watches, who also oversees the Genta and Daniel Roth brands, said he has a decades-long plan to make Louis Vuitton one of the most respected watchmakers among top collectors — known for high complications and craftsmanship, and commanding high prices. 'Before Louis Vuitton rhymes with watchmaking in the wider world, we'll probably wait a whole generation until that happens,' he said. 'What's important to me is making sure that they know when Louis Vuitton makes watches, they know they are very high quality, that they have no doubt. We are focusing on high complications and pieces with high price points.' TAG Heuer, which just announced a partnership with Formula 1 to replace Rolex as the official timekeeper, said it's already seen a boost in sales since the announcement in October. At LVMH Watch Week, the company launched a new Formula 1 collection, with bright dials and chronograph movements. Antoine Pin, CEO of TAG Heuer, said the sales benefits from the F1 announcement were literally 'overnight.' 'My surprise was that any announcement we're making with F1 is immediately leading to significant reactions,' he said. 'And clearly, the beauty of social media is that you can quickly measure the impact. And we've seen massive expansion of reaction and very positive reactions. So it was a very good decision.' On the jewelry side, Tiffany saw a 9% increase in same-store sales in the fourth quarter, LVMH said during its earnings call. Tiffany's flagship 'Landmark' store, on Manhattan's Fifth Avenue, saw strong sales over the holiday season with long lines from visitors. The newly renovated store, which LVMH spent hundreds of millions to reimagine, now features a popular Blue Box Cafe by Daniel Boulud and a new VIP suite on the 10th floor, offering views of Central Park, fine art, rare Tiffany lamps and high-jewelry pieces priced for six or seven figures. Tiffany CEO Ledru said the company's average price point has doubled since LVMH acquired the jewelry maker. By upgrading the company's retail stores, focusing on high-end jewelry and launching its new 'icons' collections, based on historical Tiffany designs, the brand has been able to quickly move up-market. Its hottest seller is the 'hardware' collection, especially its gold chain-link necklace that sells for over $19,000, Ledru said. 'It's a pretty drastic transformation,' he said. 'We went after a client that spends more, spends more time in the store and engages at a higher price point. It's demanding. It's a very particular ecosystem. The more you go up, the more you need to have amazing stores, amazing staff, amazing products, amazing events and communication that aligns with all of that.' Bulgari, whose largest market has traditionally been China, is hoping to see a sales lift during the year of the snake in the Chinese zodiac, which officially began with the Chinese Lunar New Year on Wednesday. Bulgari CEO Babin said that while the Chinese economy is 'tough' right now, there are signs that government stimulus could start rebuilding consumer confidence this year. He said Bulgari's popular 'Serpenti Viper' collections, modeled after viper snakes, are top-sellers. 'Serpenti is the icon of Bulgari, and this is the year of the snake, so this should be the year of Bulgari,' he said. The rising wealth held by women around the world, from higher earnings, entrepreneurship and inheritances, is also reshaping the company's client base. While a large share of sales used to be to men buying jewelry as gifts, now women are buying for themselves. 'Today you have a real gender equality in most countries,' Babin said. 'Women's purchasing power is very similar to men's purchasing power, which is a revolution in luxury.' On the subject of tariffs, LVMH CEOs said they have to wait and see what policies are announced before making plans. Yet they said they work with tariffs and duties in countries around the world, so a hike in the U.S. may not be too disruptive. What's more, Americans are already traveling to Europe to buy luxury goods, driven in part by the strong dollar. If tariffs become high enough in the U.S., wealthy Americans might start choosing to buy their Bulgari bracelets or Louis Vuitton watches in Europe. 'A lot of our clients travel around the world,' Jean Arnault said. 'So if they buy a piece in the U.S. or they buy a piece in Europe, it's the same for us.'
