Tiffany & Co. bet on tourists flocking to its flagship city stores to pay a premium for its jewelry, making it an attractive takeover target to a luxury giant. Now, with tourism decimated due to the coronavirus pandemic and LVMH trying to back out of the deal, the jeweler faces the prospect of reinventing itself in a brave new retail world. Tiffany got just 6% of its sales from e-commerce in each of the last three fiscal years. That figure shot to 15% for the six months to July 31, a period when its stores were temporarily...

Source: Wall Street Journal September 09, 2020 20:48 UTC