Interesting that the handbag business to supporting Hermes and LVMH. Perhaps a Tiffany handbag line?
Tiffany & Co.’s (TIF) fiscal first-quarter earnings plummeted 64%, with sales declining as consumers continue to rein in spending and the jeweler’s margins weakening mostly on higher product costs. Consumers have been avoiding pricey purchases, especially those of ,more than $50,000. While some high-end retailers are adding lower-priced, better-selling items, Tiffany and some other prestige brands have resisted moving downscale. Still, Tiffany earlier this month broadened its scope by buying the upscale Lambertson Truex handbag brand. Rivals LVMH Moet Hennessy Louis Vuitton (LVMUY) and Hermes International SA (RMS.FR) have escaped some of the luxury-sector wreckage with help from branded handbags. – from WSJ