Tiffany to Close Iridesse Jewelry Stores

Tiffany & Co. (New York) plans to close its 16 Iridesse pearl jewelry stores. The chain, which presented a range of pearl jewelry in one location, operated stores in such cities as Chicago, White Plains, N.Y., Santa Clara, Calif., and Aventura, Fla. It will close upon reaching agreement with landlords and sale of the inventory.

“Iridesse has been recording an operating loss since it started a few years ago,” says Mark Aaron, Tiffany’s head of investor relations. “That, combined with a difficult retail environment, led us to make this decision. In a better environment, the concept might have been viable.”

Tiffany launched the chain in 2004.