Tiffany & Co. Hires New CEO
Tiffany and Co. announced this morning that it has named Alessandro Bogliolo as its next CEO and newest board member. Bogliolo will start Oct. 2. For the past four years, he served as CEO of Diesel SpA, a global apparel and accessories company. Bogliolo also worked at luxury jewelry retailer Bulgari as chief operating officer and executive vice president of jewelry, watches and accessories for 16 years. “Today's announcement concludes the board's thorough process to identify and recruit an accomplished leader to position the company for sustainable growth in the years ahead,” Michael J. Kowalski, chairman and interim CEO of Tiffany's, said in a statement.
Total Retail's Take: Tiffany & Co. has been struggling for the last few quarters. It's still trying to find where it fits in with a millennial audience. Luxury retail in general is still trying to find its footing in a new on-demand, fast-fashion retail environment. Hopefully, with a new CEO that has many years of experience in the luxury retail sector, the iconic brand will be able to turn sales around for the second half of 2017.