'Our Mumbai store showcases a new, immersive design concept': Tiffany CEO

Anthony Ledru, CEO of LVMH-owned jewellery brand Tiffany & Co, says he sees 'incredible growth potential' in India, and speaks about how the brand engages Gen Z

By Pankti Mehta Kadakia Forbes India Staff

Published: Jul 30, 2024 03:29:09 PM IST

Updated: Jul 30, 2024 04:25:27 PM IST

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Anthony Ledru, CEO, Tiffany & Co. Image: Courtesy Tiffany & Co.

This May, heads turned as actor Ranveer Singh broke several gender stereotypes in an all-white satin ensemble, finished with a diamond linked necklace, diamond earrings and white high-heeled shoes. Singh was present at the inauguration of the Tiffany & Co store in Mumbai’s Jio World Plaza, as a friend of the brand.

From Audrey Hepburn’s Breakfast at Tiffany’s to Nick Jonas famously shutting down a Tiffany store to pick out an engagement ring for Priyanka Chopra, the brand has had an iconic and popular history. Tiffany’s Mumbai store is its second in India—after the first in Delhi’s Chanakyapuri—but can it compete with India’s battery of storied family diamond jewellers?

Tiffany & Co CEO Anthony Ledru, a longtime LVMH veteran, says he is optimistic about the “incredible growth potential” in India. Ledru recently oversaw the makeover of Tiffany’s 10-storey flagship New York store, in a bid to recreate “aesthetic excitement” in retail for its younger audience. Other stores, including the one in Mumbai, follow a similar playbook.

How does he see it playing out? Edited excerpts from an exclusive chat with Forbes India:

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Q. How would you say the Indian clientele is different from others?

Due to the market’s rapid growth within the luxury sector, we’ve found that the Indian consumer values not only exceptional quality, but also has a unique appreciation for Tiffany & Co’s iconic brand codes and rich heritage. With the recent opening of our new store in the heart of Mumbai, our local clients have been able to immerse themselves in the wonder of Tiffany. Over the past several years, the Indian consumer has conveyed their growing appreciation for luxury goods and heritage brands. At Tiffany & Co, we see incredible growth potential in India and are committed to our clientele in the region.

Q. In India, most people have family jewellers, and the jewellery industry works largely on trust and relationships. How does Tiffany hope to compete with this culture?

With a nearly 200-year legacy, Tiffany & Co has upheld its position as the world’s most exquisite jeweller, setting the standard for diamond sourcing and exceptional design across the globe. For decades, clients have turned to Tiffany & Co to celebrate the many facets of love and commemorate life’s most important moments. Designed to remain iconic for generations, Tiffany & Co collections are synonymous with unparalleled craftsmanship and inventiveness.

Also read: Our artisanal pieces and boutique experience enhance the luxury experience we offer: Titan's Ajoy Chawla

Q. How has Tiffany's style evolved to suit changing preferences?

Our rich archives anchor and act as a constant source of inspiration for our vision of Tiffany & Co for today. Inventiveness and cutting-edge craftsmanship have been defining pillars of Tiffany & Co since its founding in 1837, and we’ve been able to uplift this unique brand DNA for today’s generation.

Q. Could you walk us through your idea of modern retail?

Tiffany & Co retail locations are much more than just jewellery stores. They are cultural hubs that showcase superior architecture, cutting-edge art and design. Inspired by our iconic Fifth Avenue flagship in New York City, The Landmark, our store in Mumbai showcases this new immersive design concept. Within the store, visitors will experience a unique atmosphere that effortlessly combines luxury, craftsmanship and creative excellence.

Q. Where would you say that 'aesthetic excitement' comes from for Gen Z buyers?

Gen Z consumers value not only the timelessness and versatility of our collections, but they also feel connected to the brand’s values of sustainability, inclusivity and joy. Tiffany’s commitment to conducting business responsibly and the House’s exceptional quality has allowed us to resonate with the younger generation.