Tiffany debuts first men’s engagement rings
Tiffany sparklers for men will debut in flagship stores around the globe in May
Tiffany & Co. will soon offer men the traditional engagement sparkler millions of women have adorned over the years as the luxury retailer gets set to debut its first-ever engagement ring for grooms.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LVMUY | LVMH MOËT HENNESSY LOUIS VUITTON SE | 164.02 | -0.13 | -0.08% |
The rings are named after the company's founder, Charles Lewis Tiffany, and will be available in round brilliant and emerald-cut diamonds up to five carats. The price point was not immediately disclosed. By comparison, a women's 1 carat Tiffany True Engagement ring retails for $14,500, as listed on the website.
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Starting in May, the rings will debut at flagship stores around the globe.
The famed jeweler, owned by LVMH Moët Hennessy Louis Vuitton SE (LVMH), describes the ring as a "modern and bold departure from the traditional wedding band."
The Charles Tiffany Setting engagement rings (Tiffany)
In 1886, the company known for its tiny robin blue boxes, introduced the first women’s solitaire diamond engagement ring, the Tiffany Setting. Since then, the company has been seen as a top-tier jeweler for women's engagement and wedding rings –as of today - that's expanding.
FILE - This Nov. 27, 2012, file photo, shows Tiffany & Co. gift boxes displayed in Boston. Tiffany & Co. reports financial earnings Friday, March 17, 2017. (AP Photo/Elise Amendola, File)
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Its latest move is just one example of how Tiffany's says it's "paving the way for new traditions" although it also may help them gain an edge over competitors in the industry.
In fact, Tiffany's engagement rings alone account for 26% of the company’s total revenue, according to WSJ Magazine.
Earlier this year, the company was acquired by LVMH for $15.8 billion. Since then. LVMH reported that its watch and jewelry business had organic revenue growth of about 35% in the first quarter of 2021 compared to a year earlier.
The company also acknowledged that Tiffany's "saw an excellent start to the year."