Tiffany & Co.
Allie Piazza | Yang Gao | Allie Rogers
Q: WHO IS TIFFANY, ANYWAYS?
A: NO ONE. SHE’S NOT REAL.
WHO IS THE REAL TIFFANY?!
FOUNDERS Meet Charles Lewis Tiffany & John B. Young
AKA the real ‘Tiffany’
Started by Charles Lewis Tiffany & John B. Young
Opened in New York in 1837 with just $1,000
Won the 1867 Paris World Fair grand prize for silver craftsmanship
In 1886, introduced the engagement ring of today
Today, over 200 stores worldwide
HISTORY
THE PRODUCT Said to be, “inspired by the natural world, which they
interpreted in patterns of simplicity, harmony and clarity”
Customers have included, “Vanderbilts, Astors, Whitneys and Havemeyers” as well as President Lincoln and President Roosevelt.
THE STORES
• Bright• Spacious• Luxurious
• SoHo store• Chandeliers• Mother-of-
pearl magnolia design
• Curving, lacquer walls
ADVERTISEMENTS
TARGET MARKET SEGMENTS Two markets
Gift Givers
Gift Receivers
Consumers are ages 20-35 who already own luxury items
Top grossing periods occurs during special occasions
Christmas, birthdays, weddings
Pandora
Fastest growing retailer of unique jewelry
Blue Nile
Largest online retailer of diamond in the United States
Cartier
Harry Winston
Piaget
TOP COMPETITORS
SWOT ANALYSIS
STRENGTHS Strong Brand:
Understand their target market and what they want to portray about themselves as a company which provides a clear brand image
Commitment to the brand
Have their own patented color, “Tiffany blue”
Tiffany box recognized universally
STRENGTHS (CONTINUED) Relevance
Tiffany’s quality and pricing match
Consumers respect Tiffany’s products
Tiffany has enabled the company to emerge as a prominent player in the jewelry and special retail segment
STRENGTHS (CONTINUED) Strong direct selling
Multiple distribution strategies
Offers more than 3,500 products online
Even silverware!
Catalog mailing and US internet lists in fiscal is around 3.2 million
US mail, telephone or internet orders
WEAKNESSES Limited product range
Difficulty reaching emerging economies
Finances
Lower return-on-profit margins
Declining cash flows
Counterfeit items rising
Stock value declining
OPPORTUNITIES Increasing online sales
More retail stores in Asian market
Singapore as a luxury retail hub
THREATS
No. 1 threat: Apple
Consumer values have changed
Economic slowdown
Competition from other channels
Online jewelry retailer (e.g. Blue Nile).
Profusion of imitations (including counterfeits)
THREATS (CONTINUED)
Internal threats
Star designer retirement
Diversification and low-priced products will reduce brand image
THINGS YOU DIDN’T KNOW Tiffany & Co. started as a stationary company in 1837
Involved with war and the white house
Provided flags during the civil war
Designed a set of china for the white house
Designed the Super Bowl Trophy
Sales people have specialized in bow tying
Most expensive cell phones in the world are made by Tiffany
Tiffany Blue is patented
SOURCES http://luxehighlife.com/jewellery/the-world-s-top-10-jewellery-brands http://brandtiffanyandco.wordpress.com/brand-positioning/ http://brandtiffanyandco.wordpress.com/competitive-benchmarking/ http://www.thediamondauthority.org/7-things-you-didnt-know-about-
tiffany-and-co http://iln.cite.hku.hk/com/1401/users/kyleung6/26191858.pdf http://www.meihua.info/today/post/post_1da4f1ad-1e81-486d-abba-f
59f0b3be5d7.aspx http://setinthecity.files.wordpress.com/2011/04/tiffany-and-co-holida
y-2010-ad-campaign-291110-5.jpg http://www.sarahklassen.com/2010/11/tiffany-co.html http://fashionabecedaire.tumblr.com/post/9700632422/which-tiffany
-co-love-story-would-you-rather-live
SOURCES (CONT..) http://content.time.com/time/specials/packages/article/0,28804,211
0513_2110512_2110693,00.html http://mementomori-stock.deviantart.com/art/Vintage-woman-lily-
Elsie-21-185241748 http://press.tiffany.com/ViewBackgrounder.aspx?
backgrounderId=33 http://www.chinnupdesigns.com/wp-content/uploads/2008/06/
tiffany-winter07-cover.jpg http://www.architecturaldigest.com/shop/2012-12/tiffany-co-new-
york-soho-boutique-store-article/_jcr_content/par/cn_contentwell/par-main/cn_pagination_container/cn_image_2.size.tiffany-co-store-01-h670.jpg
