tiffany & co. allie piazza | yang gao | allie rogers
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Tiffany & Co.
Allie Piazza | Yang Gao | Allie Rogers
Q: WHO IS TIFFANY, ANYWAYS?A: NO ONE. SHES NOT REAL.WHO IS THE REAL TIFFANY?!
FOUNDERSMeet Charles Lewis Tiffany & John B. YoungAKA the real Tiffany
Started by Charles Lewis Tiffany & John B. Young Opened in New York in 1837 with just $1,000Won the 1867 Paris World Fair grand prize for silver craftsmanshipIn 1886, introduced the engagement ring of todayToday, over 200 stores worldwideHISTORY
THE PRODUCTSaid to be, inspired by the natural world, which they interpreted in patterns of simplicity, harmony and clarityCustomers have included, Vanderbilts, Astors, Whitneys and Havemeyers as well as President Lincoln and President Roosevelt.
THE STORESBrightSpaciousLuxuriousSoHo storeChandeliersMother-of-pearl magnolia designCurving, lacquer walls
TARGET MARKET SEGMENTSTwo markets Gift GiversGift ReceiversConsumers are ages 20-35 who already own luxury items Top grossing periods occurs during special occasionsChristmas, birthdays, weddings
Pandora Fastest growing retailer of unique jewelryBlue Nile Largest online retailer of diamond in the United States Cartier Harry Winston PiagetTOP COMPETITORS
STRENGTHSStrong Brand: Understand their target market and what they want to portray about themselves as a company which provides a clear brand imageCommitment to the brandHave their own patented color, Tiffany blue Tiffany box recognized universally
STRENGTHS (CONTINUED)RelevanceTiffanys quality and pricing matchConsumers respect Tiffanys productsTiffany has enabled the company to emerge as a prominent player in the jewelry and special retail segment
STRENGTHS (CONTINUED)Strong direct sellingMultiple distribution strategiesOffers more than 3,500 products onlineEven silverware! Catalog mailing and US internet lists in fiscal is around 3.2 millionUS mail, telephone or internet orders
WEAKNESSESLimited product range Difficulty reaching emerging economiesFinancesLower return-on-profit margins Declining cash flows Counterfeit items risingStock value declining
OPPORTUNITIESIncreasing online salesMore retail stores in Asian marketSingapore as a luxury retail hub
THREATSNo. 1 threat: AppleConsumer values have changedEconomic slowdownCompetition from other channelsOnline jewelry retailer (e.g. Blue Nile).Profusion of imitations (including counterfeits)
THREATS (CONTINUED)Internal threatsStar designer retirementDiversification and low-priced products will reduce brand image
THINGS YOU DIDNT KNOW Tiffany & Co. started as a stationary company in 1837Involved with war and the white houseProvided flags during the civil war Designed a set of china for the white houseDesigned 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 (CONT..) http://content.time.com/time/specials/packages/article/0,28804,2110513_2110512_2110693,00.htmlhttp://mementomori-stock.deviantart.com/art/Vintage-woman-lily-Elsie-21-185241748http://press.tiffany.com/ViewBackgrounder.aspx?backgrounderId=33http://www.chinnupdesigns.com/wp-content/uploads/2008/06/tiffany-winter07-cover.jpghttp://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