Tiffany isn’t exactly jumping at this proposal, and a Sunday report from the Financial Times indicated that the retailer is set to reject it on the grounds that it undervalues the company.
Despite making meaningful gains in sales and polishing its brand with store renovations and new designs, Tiffany has continued to struggle, however. Thanks to recent releases like Paper Flowers and Tiffany HardWear, and with greater transparency around the source of Tiffany diamonds, many younger consumers are returning to their grandparents’ favorite blue box for engagement rings and other occasions. Yet executives blamed macro headwinds, including volatility in the stock market that rattled its wealthy clientele, for a 1% worldwide net sales decline to $1.3 billion and a 1% comp decline in the fourth quarter.
