After a weak holiday season, Tiffany took up the reorganization of the management team in an attempt to rectify the situation with sales. Purpose - on a temporary basis - Michael Kowalski (Michael Kowalski), who is chairman of Tiffany board of directors and its former CEO, instead of Frederick Kumentalya (Frédéric Cuménal) was the last and unexpected step in the company after Reed Krakoff (Reed Krakoff) replaced Amfiteatrof Francesca (Francesca Amfitheatrof) as chief designer Tiffany three weeks ago.
In order to compensate for the decline in sales in Europe and America, which led to a drop in shares of Tiffany, the company has focused its efforts on reducing costs, offer new products and the expansion of marketing. As if that were not enough, the jeweler decided to change the face of its management team.
According to Michael Kowalski, the Board of Directors believes that the acceleration of the implementation of key business strategies Tiffany needed to compete more effectively in today's global luxury goods market and to improve the performance of the company.
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The World Federation of Diamond Bourses (WFDB) announced that it has imposed sanctions against Antwerp-based Belgian company BVBA KARDIAM.
According to a statement published by the WFDB, the company is suspected of supporting "armed groups or criminal networks in the Central African Republic through illegal mining and trade in natural resources, including diamonds and gold."
On August 21, 2015, the Office for the Control of Foreign Assets (a division of the US Treasury) introduced BVBA KARDIAM into the American "list of specially designated individuals / organizations". This sanction entails freezing funds, as well as prohibiting American citizens from doing business with this enterprise.
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