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.
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)
@denimdaysfestival, which initially launched in Amsterdam in 2014 and has since expanded to New York, is heading to Nashville for the very first time. The two-day festival, which will take place in November, will feature brand activations, hands-on workshops by artisans and denim mills, a vintage market, live entertainment, and local food and drinks. Get all the details on WWD.com. #wwdnews #wwdfashion
Later this month, the popular “Diana: Her Fashion Story” exhibit will be reopening. @historicroyalpalaces, the charity that manages @kensingtonroyal, has been working towards adding new, never-before-seen garments to the exhibit, including this dress created by Gianni Versace for a fund-raising dinner at the Museum of Natural History in Chicago. The exhibit will reopen on April 26 at Kensington Palace @wwdfashion
“Our family has always been engaged and interested in the world around us. [My brothers and I] were always encouraged to have our own opinion at a young age, which is not always something a child is asked — especially to have an opinion with reasoning behind it,” said @yarashahidi on becoming an activist. We caught up with the 18 year old last week, where she talked about her road to acting, how “Black-ish” led her to start conversations about identity and more. Head to WWD.com to read what she had to say #wwdeye (📷: @chelsealaurenla)