With product innovation, American jeweler Tiffany & Co has attracted many young consumers. According to the 2017 results released by Tiffany, the group achieved a net profit of $516 million after eliminating all the costs, up 10% from $470 million in the same period of the same period of last year. Tiffany CEO Alessandro Bogliolo said that the brand is still in the “evolutionary stage”, the millennium is the focus of the current customer group, for this customer group, the group will continue to expand brand influence, update products and strengthen the store display, the establishment of a full channel sales system.
Tiffany reported that Tiffany’s net sales were $4 billion 200 million in the 2017 fiscal year, up 4% from a year earlier, and comparable sales were flat in the same period, and most areas and jewelry sales have grown. According to previous financial reports, in the 2016 fiscal year, Tiffany Group sales fell 3% to 4 billion US dollars over the same period, a 5% drop from the store sales, and all areas of jewellery were in general. In addition, Beijing commercial newspaper reporters compared with the four quarter of the 2017 quarter can be compared with store sales found, the first quarter, the two quarter, the three quarter respectively dropped 3%, 2% and 1%, the four seasons rose by 3%. Thus, after Tiffany brand image, product performance and store design reform, began to gradually rise.
It is reported that in February last year, Tiffany launched a series of Hardware products, including silver bracelet and other low-end jewelry products. Tiffany China spokesman said that several new series, including the Hardware series, are more popular than the high priced diamond series, and the brand is aware of the importance of innovation in product design. In order to better seize the young consumers, in November the same year, Tiffany launched a series of life styles, such as Mao Xianqiu, blue pong paddle suit, silver plated tin cans made of pure silver, and hot discussion on social networks. In addition, Tiffany also redecorated the store, invited the red artist Xu Weizhou as the brand ambassador for brand perfume publicity, in a short period of time to create a very high sales.