On Wednesday we shared the latest news in the Tiffany & Co. saga. They brought suit against LVMH in the state of Maryland for breach of contract.
But then…
LVMH brought a countersuit, insisting that Tiffany & Co. mismanaged the business during the 2020 Coronavirus pandemic.
… … … …
So my question is this. Is LVMH saying that any business that struggled, or even stumbled, during the numerous international lockdown events “mismanaged” their businesses? If that is the case, then LVMH is really abandoning a large portion of their market segment.
Or maybe not…
LVMH is known as a luxury brand behemoth and they have always focused on exclusivity, rather than inclusivity. Perhaps, this countersuit is an expression of their continued devotion to exclusivity.
When rumors of a Tiffany & Co. acquisition swirled in August 2019, we wondered at the ability of Tiffany & Co. to maintain their brand identity, especially in regard to inclusivity. Now, as the acquisition crumbles, we see that it was impossible.
This may all be for the better.
Everyone loves an underdog, and at this point, that is exactly how Tiffany is positioned in the fashion and jewelry industry. Will they garner enough attention to bolster the brand as they fight the titan LVMH in court? Only time will tell.
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