Apr 08

Americans are losing their enthusiasm for jewels

As the new CEO of Tiffany (Tiffany & Co.) takes the job, it has to face a deeper crisis than the sluggish traffic in retail stores: Americans are losing their enthusiasm for jewels.

From the indifferent millennial generation to the continued decline in the marriage rate and to artificial imitation, few product categories like jewels are facing so many adverse factors. With a drop in discretionary spending and a large number of shareholders showing discontent, major jewelry makers are trying to curb the downward trend in sales and close a number of unprofitable stores. Euromonitor, a research agency, estimates that the $60 billion value of the jewelry market has shrunk by 6.3% in 2016, and this decline will continue until 2022. The Jewelers Board of Trade said that the storm of jewelry store shutdown accelerated by 53% in 2016.

Anthony Kapno, the head of the committee, said: “what I am most concerned about is the long-term health of the industry.” (Anthony Capuano) I think jewels will always be sold out. But at the moment, I think consumers have little interest in jewelry.

Apr 08

Can tiffany jewelry be shown in this way?

Recently, Tiffany&Co. announced that it will launch perfume products with Coty group, and it will be on sale in Bloomingdale department store and flagship store on 59 street, New York in August 1st. After October 1st, perfume products will begin to be sold around the world, priced at between 75-132 dollars. At the same time, there are body milk and shower gel at the price of 45-100 dollars.

It is understood that this is the first cooperation between Tiffany&Co. and retail partners and large-scale global sales.

Tiffany&Co. has publicly stated that Tiffany&Co. is one of the international luxury brands, and the unique perfume smell is more representative of the brand. Coty group is an expert in perfume industry, which is very helpful for Tiffany&Co. to develop beauty makeup business.

The Coty group also responded that Tifany&Co. is the only jewelry brand that the company has to cooperate with, and Tiffany is also very suitable for the development of Coty group, and also hopes to build Tiffany&Co. into a powerful perfume business brand.

In addition to expanding the category, Tiffany&Co. also shuffled the company’s top executives because of their poor performance. Tiffany&Co. announced that due to the continuous sales stagnation of the group, it will take the post of CEO by Bvlgari’s former executive Alessandro Bogliolo. It is reported that Alessandro Bogliolo has served in Bvlgari jewelry for 16 years, and has served as the North American chief operating officer of LVMH’s beauty retailer.

Apr 08

The first Tiffany store opend in Wuxi

The world famous jewelry and watch brand Tiffany & Co. Tiffany opened in Wuxi first store. It is reported that the brand new store located in Wuxi’s golden section commercial landmark – Zhongshan Road Commercial Street eight hundred shopping center, to build a high-end and comfortable shopping environment on the street, to show the elegant charm of the legend of Tiffany.

According to reports, Tiffany Wuxi Yaohan store located in the shopping center on the first floor, covers an area of about 327 square meters. The design of the shop is based on the design style of the flagship store in Tiffany’s New York Fifth Avenue, the recess of the grooves on the outer walls of the flagship store and the glass curtain wall of the wheat ear pattern. “Tiffany Wuxi store will present many gorgeous jewelry debut for the customer.” A large number of Tiffany exquisite jewelry, including the classic legend Tiffany & Co. Tiffany’s The Tiffany Setting six claw diamond ring and a number of engagement rings and wedding rings showing the authoritative status of Tiffany’s extraordinary diamond; open the infinite possible Tiffany & Co. Tiffany Keys series; blazed. The dauntless Tiffany & Co. Tiffany HardWear series; the Tiffany & Co. Tiffany Atlas series jewels that fuse fashion and classic design; rhythm New York city vitality, subvert the Tiffany & Co. Tiffany East WestTM wrist watch of the traditional reading time, and lead the Tiffany & Co. pedicle of New York City temperament with the beauty of sculpture Fri T series of jewelry, etc.

When the store opened in Wuxi, Larry, a sculptor from Tiffany, New York, also arrived in Wuxi from the US and appeared in Wuxi Tiffany store. From September 28th to October 1st, he will create exclusive jewelry for customers at the scene. “Larry is usually in New York. This opportunity to visit Wuxi is very rare.” Tiffany, the head of the Tiffany Wuxi franchised store, said that he has been engaged in Tiffany engraving for 20 years. He has created a number of custom-made jewelry for the guests. Some guests carved their own names on the necklace, some guests made a custom of love in the diamond ring for their lovers, and guests carved their pet pictures on the jewel boxes. Each Custom Engraving combined the art and memory together to customize a romantic and recollection of his own.

Apr 08

The great spirit of the American Jewelry from Tiffany

Tiffany has always been a brand of creating a story for himself. Unlike Cartire, at first it was just a small stationery store, but Charles Luis Tiffany had great ideals and ambitions, hoping that Tiffany could become a world – class brand. At that time, the Royal royalty brand of the European Court was the mainstream of the society, like Cartire’s “emperor’s jeweler and jeweller’s emperor”. Tiffany wants to stand out and develop jewelry market and promote brand.

The world’s largest and best quality yellow diamond was picked up in 1877 in Kimberley, South Africa, and it was purchased by Charles for 18000 dollars every other year. Under the guidance of Dr. George Pons, a famous gemologist of Tiffany, the craftsmen have worked and ponder more than 10 diamonds, the largest of which weighs 128.51 carats, and is named “Tiffany Diamond”. The diamond is a very bright golden yellowish yellow, round, 28.50 millimeter, 27 millimeter, and 22.22 milli. Rice has 90 facets, golden and precious. Relying on this precious treasure drill, Mr. Tiffany not only gained the fame of “diamond king” but also solidified his brand in the gem world.

It is worth mentioning that Tiffany’s unique perspective on the value of jewels and a great relationship with a person. He just mentioned George Frederick Pons (George Frederick Kunz) in his article. He gained a solid foundation of gemological merit by studying himself and studying minerals, and for Tiffany customers all over the world. In search of unparalleled supernatural stones, of course, Tiffany, who was only 23 years old, entered the top of Tiffany’s George.

Apr 08

Tiffany launched a daily series

Tiffany seems to try to become more “civilian” to save its sluggish performance and get more young consumers. The company’s “Everyday Collection” series, which was officially launched in November 1st, includes coffee cups, coffee cans, and “bird’s nest” products.

“Everyday Collection” series by the group’s new chief Art Officer Reed Krakoff knife, he was new in February this year, replacing the job group for nearly 4 years but a mediocre design director of the Francesca Amfitheatrof.

The series is also the first major product action of the US jewelry group after replacing all core management layers. The Tiffany group had also replaced the CEO and chairman, and the 64 year old Roger Farah took over Michael Kowalski as the chairman of the group since October 2nd, while Diesel SpA CEO served as the Group CEO on the same day, replacing Frederic Cumenal, which was suddenly dismissed in February 6th.

Apr 08

Tiffany does not only produce jewelry

Speaking of the name Tiffany Tiffany, it is thought to be the most recent reddish cafe, and may remember the price pin that triggered a social media frenzy, or a key design that has always been popular.

But in fact, Tiffany has never been a simple jeweler. Especially recently, Tiffany’s new Metro series wristwatch, East West series wristwatches, and to celebrate the brand 180th anniversary, also made the first square meter, with a global limit of 180.

In fact, as long as you know, Tiffany was a big dealer. When he sold a lot of their own brands and other brands of watches, they probably knew its status. After all, it was able to maintain a good relationship with Patek Philippe in history and be able to make a “double standard” watch (that is, there are Patek Philippe and TIFF on the surface of the hand table. ” There are not many dealers in Nei’s logo.

Apr 08

Tiffany entered the period of brand evolution

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.

Apr 08

The development of Chinese local jewelry brand

The age of consumption upgrade, the local brand development? According to Mckinsey report, since 2003, the global branding rate has increased year by year, and it is expected to reach 30%-40% level in 2020. According to the herm group, the luxury consumption of China’s upper middle, rich and wealthy classes will reach 1 trillion and 180 billion yuan in 2025, and 64% of the young consumers are willing to increase their spending on luxury goods. In the context of increasing consumption awareness and international luxury brands and advancing into the Asia Pacific region, local brands need to think about their development path.

Through the exploration of local experience tiffany jewelry brand transition path. To sum up Tiffany’s development process, we think the following three elements are valuable support for jewelry luxury brand: the first element is brand history.

Tiffany has 180 years of brand history, the Royal brand, Tiffany blue, small blue book, yellow diamond and other historical elements help them to form a rich historical and cultural background. The second element: excellent quality. Tiffany used the five criteria to evaluate the diamond grade, and the strict quality standard has won the trust of consumers. The third elements:

Mission Runway。 Throughout the world, every luxury brand has been sold well and its design ideas are emerging.

Therefore, we believe that the brand pillars of historical culture and excellent quality, with the continuous emergence of hot selling items, have achieved the top jewelry luxury brands that can still maintain stable valuations through the wind and rain.

Apr 08

The anxiety of Tiffany

Tiffany released its annual performance on Friday as of January 17, 2018, and sales increased by 4% to 4 billion 200 million dollars compared with the same period last year, compared with the same period last year. By the negative impact of the huge tax and fee generated by the US new tax law, net profit fell 17% to 370 million dollars, and the gross profit rate was slightly higher than that in the same period 62.5%.

In the fourth quarter, sales increased by 9% to 1 billion 300 million US $1 billion 300 million, up 6% on a constant exchange rate, a year-on-year increase of 3% over the same period, with a constant exchange rate of 1%, lower than the previous analyst’s expectation of 2.8%, the net profit fell by 61% to 62 million, and the gross interest rate was 63.7%.

According to fashion headline data, Tiffany can not grow for thirteenth consecutive quarters, the sales trend is improving, 3% in the first quarter last year, 2% in the second quarter, and 1% in the third quarter, which has gradually narrowed.

Alessandro Bogliolo, a former Bvlgari executive and new CEO, said the group’s recent investment in digital upgrading, marketing and store improvement will have a negative impact on the performance in a short period of time, but will gradually recover after a period of time.

Apr 08

Tiffany’s stock price has dropped off

Tiffany Group expects earnings per share 4.25-4.45 billion in the current fiscal year, calculated at a median of 4.30 dollars, far below the market expected $4.42. The company also indicated that the increase of SG&A expense would also weaken the operating profit rate.

In addition, in the key holiday season up to January 3rd, the Tiffany Group recorded a 3% increase in the same store sales, a 1% increase in fixed exchange rate, although slightly better than the three quarter, but far less than the expected 2.8% growth rate.

Investors were obviously impatient with the US group in the transition period, especially in the backdrop of the luxury market. The punishing Tiffany group opened 4.41% dollars and 98.18 dollars on Friday, and then quickly dived to a 95 dollar decline of $7.51% at a full day low, but accompanied by a widespread rally in retail stocks and part of the investment bank. In the long term confidence, the stock price was supported, and it had a concussion near 97 dollars, and it finally closed at 97.51 dollars, down 5.06%.

Jefferies analyst Randal Konik said he remained confident about Tiffany, and the change in the new management was to take the necessary reform measures for the long-term growth of the group. Once the sales growth was regular, it would be reflected in the stock price. The bank maintains Tiffany’s 125 dollar target price and “buy” rating.