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Lambertson Truex will help jeweler expand merchandise assortment
Tiffany & Co. (New York) is buying bankrupt U.S. handbag maker Lambertson Truex as the high-end jeweler seeks to expand its array of leather goods. The 10-year-old luxury American accessories brand, purchased by Samsonite in 2006, filed for Chapter 11 bankruptcy protection in March after shoppers began cutting back on purchasing luxury goods.
Founds and handbag designers Richard Lambertson and John Truex have joined Tiffany, where they will "explore the development of a collection of handbags and leather accessories to complement the current assortment available at Tiffany," said Tiffany spokesman Mark Aaron. Tiffany already offers a few leather items, including tote bags and passport holders.
The designers launched their firm in 1999 and are known for their high-end leather and exotic skin handbags, with price points ranging from $3000 to more than $5000. The bags are also sold at department stores, including Bloomingdale's and Saks Fifth Avenue. The company also operated stand-alone stores in Las Vegas, New York and Los Angeles.
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