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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Retiring? Let Wilkerson Do the Heavy Lifting
Retirement can be a great part of life. As Nanji Singadia puts it, “I want to retire and enjoy my life. I’m 78 now and I just want to take a break.” That said, Nanji decided that the best way to move ahead was to contact the experts at Wilkerson. He chose them because he knew that closing a store is a heavy lift.
To maximize sales and move on to the next, best chapter of his life, he called Wilkerson—but not before asking his industry friends for their opinion. He found that Wilkerson was the company most recommended and says their professionalism, experience and the homework they did before the launch all helped to make his going out of business sale a success. “Wilkerson were working on the sale a month it took place,” he says. “They did a great job.”