REGENT UNIVERSITY LONDON
EUROPEAN BUSINESS SCHOOL
MA Luxury Brand Management
LBM701 & LBM702 :
Leading and Managing the Luxury Business & Developing Luxury Brands Nikita Richards
March 13th 2015
The report examines the brand identity of Tiffany & Co in order to comprehend the underlying reason behind the global success of the company. In order to main this position the Tiffany has decided develop a new product range along with the openings of three new stores in an attempt to preserve the global position of the brand. This report draws attention to the 8 pillar of luxury to justify the reasons behind launching a range of products designed by a celebrity, as well as explain the endorsement powers of using a celebrity to promote new products. A consistent believer of Tiffany and a public figure selected for this purpose was Sarah Jessica Parker, who will launch a new line of fashion jewellery.
In order to find a new location for a new retail representation the net sales of each region was viewed. From this India, Belgium and Qatar were thought to be the most suitable regions. This was followed by a PESTEL analysis of each country to justify its suitability for the brand and creation of the highest consumer sales.
“Since 1837, the masterpieces of Tiffany & Co. have defined style and celebrated the world’s great love stories” (Tiffany & Co, 2015).
Tiffany & Co (Tiffany) is a worldwide company with a huge market. Its four product segments are, from largest to smallest: fashion jewellery, engagement jewellery and wedding bands, statement jewellery, and non-jewellery accessories, a small category which includes timepieces, leather goods, china, crystal, and fragrances. The aim of this report is to develop a new range of products to maintain customer loyalty and brand presence, as well as locating new regions suitable for opening of three new stores. This essay provides information about premium class jewellery of American company Tiffany & Co. Moreover, it’s including information about a new designer, Sarah Jessica Parker. Celebrity was invited to develop new products, the signature to her new collection. This report also provides analysis of net growth and sales of Tiffany products in different countries and continents. The three new stores will be located in India, Qatar and Belgium. Three countries with a big opportunities and high targeting market.
Tiffany & Co. is a global, premium Jewellery Company and one of the most popular American luxury brands. The Tiffany (Tiffany & Co) was introduced into the luxury market over 170 years ago, and this heritage has given the brand an advantage over its competitors. Part of Tiffany’s heritage is being environmentally responsible and this means using resources from mines, which are dedicated towards conserving the habitat of a natural world.
The main revenue source of the company is Diamond jewellery, but the company also designs and retails high quality gemstone jewellery, which has an emphasis on diamonds (Cowen & Co, 2014). It is through the design of these pieces which Tiffany has created its identity of strong emotional influences and essence of endless love, priceless beauty and elegant romance. A globally recognizable blue box and white ribbon is every girls dream, representing the heart of the brand where True love grows.
The strength of the brand identified through a SWOT analysis lie in the exclusiveness and lawless craftsmanship of exquisite pieces, which attract the luxury consumers....
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