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Tiffany and Co. to close Iridesse

February 27, 2009

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New York--Tiffany and Co. is closing its pearl jewelry chain Iridesse, a spokesperson for the retailer has confirmed.

The Tiffany and Co.-founded chain counts 16 retail stores devoted exclusively to pearls and pearl jewelry, each of which will be shuttered by the end of 2009.

"All of the stores will be closed by the end of the year once we reach agreements with our landlords and when we have sold off our inventory," Tiffany and Co. spokesperson Carson Glover said in an e-mail to National Jeweler.

Iridesse was founded in 2004, at which time Tiffany and Co. Chairman and Chief Executive Officer Michael J. Kowalski said, "We believe there is an important opportunity to present pearls and pearl jewelry in an innovative, exciting new retail format."

But with the current economic climate, business has proved disappointing for the chain, whose stores have showcased a comprehensive range of pearl types and a wide variety of jewelry styles, with prices ranging from entry-level to couture.
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