Tiffany & Co on Thursday appointed former Diesel chief executive Alessandro Bogliolo as CEO. He will also be joining the board of directors.
Bogliolo, a luxury industry veteran with 16 years of experience at Bulgari — where he was chief executive when the fine jeweller sold to LVMH for more than US $5.2 billion in 2011 — has served as the chief executive of Italian fashion and accessories brand Diesel since 2013, and will begin his post at Tiffany on October 2.
At Diesel, Bogliolo led a turnaround strategy aimed at reclaiming the company’s luxury image, by scaling back sales to wholesale customers and improving customer service.
He will succeed Frederic Cumenal, who was ousted by the New York-based company in February after it had posted declining sales and profits for two years in a row. Chairman Michael Kowalski served as interim chief while the company searched for a successor.
Tiffany has been plagued by the challenges presented by a strong U.S. dollar, including a decline in tourism spending. Younger shoppers are also spending less on jewelry and it has had to put up with a headache at its flagship store in New York City, which is next to Trump Tower and has been subjected to heightened security.