Tiffany & Co.’s revision under Reed Krakoff has been slow going — but more should be visible in the first half.While named the jeweler’s chief artistic officer in January 2017, Krakoff’s first designs for the firm weren't unveiled until November — and those were his concepts for its home collection, which he was first hired to make over in July 2016. The line was called "Everyday Objects" and received mixed reviews — with some media criticizing a tin can design cast in sterling silver for its $1,000 price tag.Krakoff's jewelry designs have yet to be revealed. A Tiffany spokesman noted they are due in stores in May.While Krakoff’s approach to Tiffany has not yet been realized in full, the brand — which has struggled in the last decade to maintain momentum in the North American market — has already exhibited early signs of financial turnaround under new chief executive officer Alessandro Bogliolo and chairman Roger Farah.For the third quarter, the jeweler’s net income rose 5 percent to $100 million, or 80 cents a diluted share, from $95 million, or 76 cents, a year earlier. Sales increased 3 percent to $976 million, although comparable-store sales slipped 1 percent. Comps were flat on a constant currency basis.In October, Wells Fargo issued analysis that remarked upon Tiffany’s new home assortment: “One of the biggest initiatives this year comes from the Q4 launch of the home/accessories line designed by Reed Krakoff’s team, which can help reinvigorate a gifting business that used to be sizable many years ago (a mid-teens percent of sales) but has been significantly de-emphasized over the years (now a LSD percent of sales)."With a dedicated floor in the [New York] flagship — opening in early-November — and more-limited assortments in the U.S. branch stores, management hopes that a broad assortment of non-jewelry product, such as barware, travel accessories, pet accessories, baby gifts, etc., will drive increased visitation and incremental revenues to stores….This will be key to [Tiffany] achieving their holiday goals, as Q4 will be a telling sign if there is an inflection story building into 2018," Wells Fargo wrote.In late November, with Tiffany share price then hitting around $92, a report by RBC Capital Markets projected growth for the jeweler. “We believe in-line Q3 earnings and sequential improvements in most regions are enough to give hope that upcoming catalysts could lead to upside over the next few quarters. We note the seven-times multiple expansion the stock already had in anticipation of improving trends (and keeping pace with luxury peers) as well as rising concerns around GMs, could limit material upside to the stock,” the report noted.On Tuesday, Tiffany’s stock rebounded — reaching more than $106 a share, a sum not seen since December 2014.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion