How Can Tiffany & Co. Regain Its Cool?

How Can Tiffany & Co. Regain Its Cool? Misty White Sidell What will it take for Tiffany to regain its cool quotient? That is the key question in the fallout from Sunday's announcement that the jewelry firm's chief executive officer, Frederic Cumenal, had been pushed out. The decisive move came two weeks after a similar coup involving design director Francesca Amfitheatrof. She was succeeded by former Coach executive creative director Reed Krakoff. Both departures have left the legendary brand in a state of unprecedented flux. "It seems to us that the board was displeased with the lack of financial improvement under his [Cumenal's] leadership even though it sounds like they agree with his strategy," said Betty Chen, an analyst at Mizuho Securities USA Inc., of the Sunday announcement, made just hours before a Super Bowl media blitz. Indeed, Tiffany itself made that clear in revealing Cumenal's departure. In its announcement, chairman Michael J. Kowalsky — Cumenal's predecessor as ceo, who will return to that post on an interim basis until a permanent successor is found — said: "The board is committed to our current core business strategies, but has been disappointed by recent financial results. The board believes that accelerating execution of those strategies is necessary to compete more effectively in today's global luxury market and improve Follow WWD on Twitter or become a fan on Facebook. Read More... Fashion 3