By  on March 11, 2009

Conceding the difficulty of supporting a secondary concept in a challenging economic environment, Tiffany & Co. said Tuesday that it will shutter its 16-store Iridesse division.

Tiffany launched the chain, which traded mainly in pearl jewelry, in 2004. Mark Aaron, vice president of investor relations, said the stores were losing money and that it was difficult to operate them in the current “tough” retail climate.

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