Tiffany & Co. Allie Piazza | Yang Gao | Allie Rogers.

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

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