Tiffany Furniture Going Out Of Business

Lvmh expanded its rationale for pulling out of its biggest acquisition ever saying the deal to buy tiffany was no longer valid because the company had been mismanaged during the pandemic.

Tiffany furniture going out of business.

In europe sales during the two months plunged 10 year over year and comparable store sales plunged 11. Lvmh says the threat of us tariffs on french products has forced it to scrap its planned acquisition of tiffany which would have been the biggest luxury goods deal in history. Pier 1 furniture dinnerware and home goods have been fixtures in our dorm rooms apartments and homes for years and now s your last chance to buy from the homewares brand which is going out. If you can t sell an american institutional brand to your own people in the united states you are going to go out of business in the same way as brooks brothers.

The 181 year old luxury house has long relied on hit products to lure shoppers so each new line is closely watched in the hope that. But paris based lvmh pulled the plug this week on its. Globally tiffany s holiday business was a mixed bag. In asia pacific sales looked better though comparable stores sales also dropped.

It s not a sustainable strategy.