Tiffany & Co. is adding a chief brand officer with a bit of corporate reshuffling that will see Pamela Cloud, chief merchandising officer, leave the luxury jeweler after 25 years.
In an internal memo to employees, chief executive officer Alessandro Bogliolo expressed his gratitude to Cloud, noting she has been “at the epicenter of our merchandising function” throughout her career, and laid out a new structure for merchandising and marketing.
“As we continue to evolve the business to support our goals and efforts toward becoming The Next Generation Luxury Jeweler, it is clear that focusing on areas that directly impact the way in which the customer experiences our brand is of more critical importance than ever,” Bogliolo said. “Given this, it has been decided that the business will benefit from having the merchandising and marketing functions aligned under one leader, who will be a soon to be named chief brand officer. This new organizational structure is intended to foster more agile and aligned brand strategy work as it relates to both product and marketing.”
According to a filing with the Securities and Exchange Commission, Cloud will cease to be an executive officer at Tiffany on Nov. 26. After that, her primary role at Tiffany will be to “assist in transitioning her responsibilities and in providing advice, expertise and work on a project-by-project basis as may be requested.” She will leave the company on July 31.
Bogliolo has been steadily reworking Tiffany since he joined the firm in October 2017.
He laid out a six-point plan that has the company evolving its brand message, renewing the product offering and operating more efficiently. The firm has also been reintroducing itself to Millennial customers, particularly in China, where it presented the “Vision & Virtuosity” exhibition at the Fosun Foundation in Shanghai.
Along the way, the brand has also drawn some other attention of others, namely luxury titan Bernard Arnault.
LVMH Moët Hennessy Louis Vuitton, which is led by Arnault, recently offered to buy the company for $120 a share, or $14.5 billion. The last official word from Tiffany on the topic came in November, when the jeweler said it was “carefully reviewing the proposal.”