September 2, 1999
Tiffany Will Stop Selling to Other Retailers
Tiffany & Co. will stop selling its goods through U.S. independent jewelers and department stores effective Jan. 1, 2000, the company announced today.
U.S. trade distribution, which began 14 years ago, represents less than 3% of Tiffany's total sales and has been only marginally profitable, said James E. Quinn, Tiffany's vice chairman. "This decision also reflects our strategy to maximize control over the distribution of our products and our brand, as well as our focus on company-operated store development," Quinn said.
The firm currently operates 37 stores in the U.S. Quinn said the decision will not affect earnings, which increased 70% during the most recent quarter compared to the same period last year.
Tiffany will continue to sell to retailers in Asia, Europe and the Middle East. www.tiffany.com.
- by Michael Thompson