Tiffany & Co. To Close Pearls-Only Store Iridesse
Diamond prices are falling but it looks like the stones may still be more popular than pearls. Tiffany & Co.is in the process of closing Iridesse, its spin-off brand of stores focusing exclusively on pearls. The stores launched in 2004 and there are currently 16 Irdiesse stores open. Tiffany spokeswoman Linda Buckley is quoted by JCK as saying that the store closings will occur as they make arrangements with landlords and sell off inventory but that the move should happen within the next few months. Buckley also says that Tiffany believes in the concept of pearls-only stores but that the current economy couldn't support the separate business. The news come just as Michelle Obama's official White House portrait is revealed. The First Lady shows off toned bare arms and a double strand of pearls around her neck.