Amid faltering sales, the CEO of iconic jewelry store Tiffany’s has stepped down.
Source: Breakfast at Tiffany’s
The store, renowned for its Tiffany blue jewelry boxes and the object of Holly Golightly’s affection in Breakfast at Tiffany’s has reported falling sales, particularly at its Manhattan flagship store.
Tiffany & Co., who have crafted the Vince Lombardi Super Bowl trophy since 1967 hired half-time performer, Lady Gaga, for their first ever Super Bowl ad as sales plummeted for New York based company.
— Tiffany & Co. (@TiffanyAndCo) February 6, 2017
On Sunday they announced CEO Frederick Cumenal has stepped down. Former CEO Michael Kowalski will steer the company in the interim until a replacement can be found.
The company, whose flagship 5th Avenue store is located by Trump Tower has cited lower consumer spending as the reason for faltering sales.