From SnapSave io FT Business of Luxury Summit Day 1 Alexandre Arnault & Jo Ellison 720p · · ALBERT
“It was a bit frightening being this 24‑year‑old arriving telling people 'hey now I'm your new owner and I'm your new CEO' — a lot of reassuring was needed in the beginning and then when all that was done we could start working day two.”
On , Alexandre Arnault, EVP Product & Communications at Tiffany & Co., spoke about leadership during SnapSave io FT Business of Luxury Summit Day 1 Alexandre Arnault & Jo Ellison 720p on ALBERT.
Alexandre Arnault, Executive Vice President of Product and Communications at Tiffany & Co., has discussed the company's repositioning since its acquisition by LVMH in 2021. He described the pre-acquisition culture as "lost in translation," stating that the company operated like a mid-market American firm where employees "go home at 5:00 pm" and "nobody questions anything." Arnault said that after the acquisition, employees who preferred that environment left on their own, allowing the company to introduce "entrepreneurship and speed of decision making." He noted that the renovation of the flagship New York store, which was restarted from scratch under architect Peter Marino, took three years and cost "multiple hundreds of millions of dollars," but that the store is "exceeding projections week after week." Arnault has also spoken about marketing strategy and collaborations. He said that the "Not Your Mother's Tiffany" campaign was "controversial" but had a "great impact on sales," with silver business growing the fastest in five years during its month. Regarding collaborations, he stated that the company does not partner with brands to target specific demographics, calling it "completely stupid" to target Millennials because "you feel when it's fake." He said the company looks for partners "willing to do something new and disruptive" and cited the Supreme collaboration as an example of a partnership based on shared interests in streetwear and skateboarding rather than demographic targeting. Arnault also said Tiffany does not sell lab-grown diamonds, stating the company "believe[s] strongly in natural diamonds" and citing social and economic consequences in Africa if the natural diamond industry were displaced.