update 2-tiffany buys bankrupt lambertson truex handbag co

by:GF bags     2019-08-23
* Tiffany said the acquisition took effect immediately * said it was too early to discuss the future of the Lamberson boutique * Tiffany\'s share price fell 2% (
Add comments from Tiffany, byline)
Martin Geller, New York, May 1Reuters)-Tiffany & Co (TIF. N)
Friday said it would buy the bankrupt U. S.
Handbag manufacturer Lamberson Truks
End jeweler is looking to expand its range of leather goods.
Handbag designers Richard Lambertson and John Truex have joined Tiffany, who will \"explore the development of a range of handbags and leather accessories to complement Tiffany\'s existing portfolio, Tiffany spokesman Mark Allen said.
Aaron declined to disclose the financial terms of the transaction.
Earlier, the trade paper Women\'s Daily reported the purchase.
Tiffany is known for its jewelry and unique lighting
The blue box has sold some leather items including handbags and passport holders.
Aaron declined to discuss how the new package will be branded, and to discuss the future of the Lamberson Truks boutique on Madison Avenue in New York, saying it was too early.
Lamberson Truex bags are also sold in department stores, including Bloomingdale (M. N)
And Saks Fifth Avenue. N.
After the recession lowered demand for luxury goods, the company filed for bankruptcy protection in chapter 3.
At the time, Lamberson said it was founded in 2006 by Samsonite. CMERNS. UL]
Invest in it and hold a majority of the shares in the business, as well as a \"substantial\" debt.
Tiffany\'s shares fell 2% to $28.
Trading at 36 in the afternoon. (
Report by Galle Martinne;
Edited by Derek Kenney and Brian Moss)
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