RAPAPORT… Tiffany & Co.’s manufacturing unit, Laurelton Diamonds,
plans to shut its polishing center in Antwerp, shifting the operations to its other
workshops in Botswana, Cambodia, Mauritius and Vietnam.
Laurelton will continue to carry out rough sourcing,
sorting, marking and sawing at its Antwerp headquarters, but will move the
polishing work to its other locations, or to external suppliers, a Tiffany spokesperson
told Rapaport News Wednesday. The retailer has entered a consultation
period with its employees, but declined to say when the closure would take
effect or why it had made the decision.
Laurelton, which Tiffany established in 2002, sources rough
stones and manufactures them into polished that it supplies to the jeweler.
“The company will fully comply with all local employment
laws and regulations in relation to the plan, if and when confirmed following
the end of the consultation period,” the spokesperson added.
Tiffany to Close Antwerp Polishing Facility
The Bottom Line
- Laurelton Diamonds, Tiffany's manufacturing unit, will shut its Antwerp polishing center and relocate polishing work to Botswana, Cambodia, Mauritius, Vietnam, or external suppliers.
- The Antwerp headquarters will maintain rough sourcing, sorting, marking, and sawing activities.
- Tiffany is consulting with employees and will comply with local employment laws before finalizing the closure.
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