Tiffany: Former Senior Bulgari Officer Alessandro Bogliolo To Be New CEO
July 14, 17
(IDEX Online) – Luxury jewelry company Tiffany & Co. has appointed Alessandro Bogliolo a new chief executive, effective as of October 2.
Bogliolo was most recently CEO of apparel and accessories company Diesel, and spent 16 years at jewelry firm Bulgari SpA, including in the roles of chief operating officer and executive vice president for jewelry, watches and accessories.
His appointment aims to help Tiffany to attract young shoppers with whom it is struggling to connect, according to some reports.
They are either spending less on accessories or are turning to specific brands, such as Pandora, and Alex and Ani.
Tiffany reported a surprise drop in comparable sales in its most recent quarter, with lower demand in the United States and a strong dollar restraining tourist spending.
Bogliolo's appointment comes about five months after the company got rid of former CEO, Frederic Cumenal due to disappointing results.