Market Overview

Tiffany Appoints Former Barneys CEO As Chief Brand Officer

Tiffany Appoints Former Barneys CEO As Chief Brand Officer

Jewelry retailer Tiffany & Co. (NYSE: TIF) has hired former Barneys New York Inc. chief executive officer Daniella Vitale.

What Happened

Vitale will join Tiffany as its chief brand officer starting December and oversee the company’s global merchandising and marketing strategy, the company’s CEO Alessandro Bogliolo said in an internal letter sent to the employees. Page Six first reported the news.

Vitale’s tenure at Barneys ended earlier this month after the luxury department store brand was acquired by New York-based Authentic Brands Group LLC.

Barneys filed for bankruptcy in August and put itself up for sale, as the Wall Street Journal reported in August. The company was failing to turn profits amidst rising rent for its stores and a drop in retail demand.

Tiffany has been offered an acquisition deal by France’s LVMH (OTC: LVMUY), the parent company of luxury fashion brand Louis Vuitton and Givenchy.

LVMH has increased its offer to $16 billion to acquire Tiffany from an earlier $14.5 billion, according to a Reuters report on Wednesday.

Price Action

Tiffany’s shares closed 0.14% lower at $123.33 on Wednesday but gained 3.57% in after-hours trading.


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