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Tiffany's New CEO Faces Jewelry Industry That's Lost Allure

  • Jewelers suffering from online competition, fewer marriages
  • Companies seek to halt sales slump as investor unrest rises
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Photographer: Victor J. Blue/Bloomberg
Updated on

As Tiffany & Co.’s new chief executive officer settles into the job, he faces a crisis that runs deeper than sluggish retail traffic: Americans are losing their passion for jewelry.

From indifferent millennials to declining marriage rates and synthetic imitations, few product categories are contending with as many headwinds as jewelry. Companies are scrambling to halt slumping sales and shutter unprofitable stores as discretionary spending falls and shareholder unrest bubbles over.