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.

Looking for a Seamless Sale? Call Wilkerson

After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”