Headlines

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

Published

8 years ago

July 14, 2016

INSTORE Staff

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.

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”