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Coming Off Down Quarter, Tiffany & Co. Shifts Focus Beyond Jewelry

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Jeweler also taking steps to connect with younger consumers.

Tiffany & Co. is looking beyond its core jewelry business to buoy overall sales, partnering with Reed Krakoff to design a new gift, home and accessories collection, Luxury Daily writes. The article says that Tiffany’s “worldwide net sales for 2016 were lower than the year-ago first quarter,” marking a decline in all regions except Japan.

“A heritage brand, such as Tiffany, must continue to evolve to remain relevant to its core and prospective customers,” Rebecca Miller, CEO of Miller & Company, told the fashion news outlet. “It is a natural progression for a brand to expand beyond its core products to those products that serve as a natural extension of the brand.”

The article also mentions Tiffany’s recent partnership with Grace Coddington, the former creative director of American Vogue magazine, to lead a new ad campaign featuring several “iconic” jewelry collections. “This relationship signals the brand’s intent and understanding that the world of jewelry, which is underperforming at all levels, needs to begin to reach out and find disruptive ways to create an edge in the market. Capitalizing on the fashion world’s constant motion by using designers in fashion that are modern may help to hit the right note with millennials,” Miller added.

Read more at Luxury Daily

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When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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