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Report: Tiffany to shutter Iridesse

3/11/2009

New York City Tiffany & Co. is planning to shutter its underperforming Iridesse pearl jewelry retail chain, the Wall Street Journal reported.

Tiffany launched the 16-store chain in 2004 with a splashy advertising campaign. But the recession "ultimately proved too stressful for this young business," Tiffany's chief executive Michael Kowalski said in an internal memo reviewed by the Wall Street Journal.

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