Tiffany unveils jewelry for men

NEW YORK — Tiffany & Co. is launching its first comprehensive jewelry collection for men in October as it seeks to diversify its traditional customer base.

The line announced this past week is part of the Tiffany's strategy to attract younger shoppers and pump up sales, which have been dampened by a decline in spending by tourists from China and elsewhere.

Tiffany has sold money clips, cuff links, rings other traditional jewelry for men. Now it's seeking to put a more modern spin on what it offers men.

The new men's collection includes nearly 100 designs ranging in price from about $200 to $15,000.

The new line of goods will get its own floor space in Tiffany's 300 stores, rather than being sold side-by-side with other items, said Reed Krakoff, the company's chief artistic director, who developed the collection.

High-end jewelry is popping up on men's fashion runways at Gucci and other big luxury brands, said Robert Burke, an independent fashion consultant.

Global sales of men's fine jewelry reached $5.8 billion last year, up 23% from 2013, according to Euromonitor International, a market research company. That's still dwarfed by women's fine jewelry, which reached $33.2 billion in sales.

Krakoff said that the men's business hasn't been a big focus at Tiffany, but there's a big opportunity given that half of the company's global customers are men. The vast majority of them buy women's jewelry, he says.

"We have a captive audience," he said.