Tif­fany hires Diesel exec in bid to re­gain lus­tre and cool

The Guardian (Charlottetown) - - BUSINESS -

NEW YORK — Tif­fany is tak­ing an­other shot at re­viv­ing its lus­tre, and re­gain­ing its cool, nam­ing a former ex­ec­u­tive at Diesel as its top ex­ec­u­tive. The com­pany ran out of pa­tience in Fe­bru­ary only two years after hir­ing Fred­eric Cu­me­nal to do the same thing. Tak­ing over for in­terim CEO Michael Kowal­ski is Alessan­dro Bogli­olo, who had been lured to Diesel SpA to re­vi­tal­ize sales there. Bogli­olo is ex­pected to take over the CEO post at Tif­fany by Oct. 2. He will also be­come a board mem­ber.

The 52-year-old ex­ec­u­tive spent 16 years at Bul­gari SpA be­fore tak­ing the job at Diesel.

Tif­fany & Co., based in New York, has wres­tled with weak sales as mil­len­ni­als spend money else­where and com­pe­ti­tion in­ten­si­fies from on­line play­ers like Ama­zon and Blue Nile. Sales growth has been shaky at Tif­fany, and the lux­ury jeweler re­ported lower-than-ex­pected sales dur­ing the most re­cent hol­i­day sea­son, a crit­i­cal pe­riod for re­tail­ers.

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