Tiffany & Co. received a boost from improved retail demand in Asia during its third fiscal quarter, as the company seeks to return to growth this holiday season.
Group sales rose 3% year on year to $976.2 million in the three months that ended October 31, with a strong performance in the fashion-jewelry and solitaire categories, as well as in high and fine jewelry. Comparable-store sales slipped 1%, but profit increased 5% to $100.2 million.
“These latest financial results marginally exceeded our expectations, but I believe that Tiffany has the medium- to long-term potential to achieve meaningful comparable-store sales growth, and drive higher operating margins and earnings growth,” said Alessandro Bogliolo, who joined the jeweler as CEO last month.
Sales in the Americas climbed 1% to $421 million, as higher demand from local customers outweighed weaker spending by foreign tourists, the company said. Asia-Pacific revenue jumped 15% to $283 million, largely due to growth in mainland China. Sales in Hong Kong were almost flat, after three years of substantial declines, Mark Aaron, Tiffany’s vice president for investor relations, said on a conference call Wednesday.
However, revenue declined from Tiffany’s diamond wholesale business, resulting in a 26% slide in “other sales” — including both the wholesale unit and retail sales at stores in non-core regions.
In the first nine months of the fiscal year, group sales increased 2% to $2.84 billion, while comparable-store sales dipped 2%, and profit jumped 7% to $308.2 million.
Bogliolo, who previously served as CEO of Italian clothing brand Diesel, is attempting to achieve a turnaround at Tiffany outlet, after global sales fell 3% in the last full fiscal year that ended January 31. Last year’s holiday sales dropped 4% due to weak consumer spending and protests outside Trump Tower, which neighbors the retailer’s flagship Fifth Avenue store in New York.
This year, the company has looked to new strategies to attract consumers, including opening pop-up stores in key New York locations, and expanding its range of products. The jeweler recently launched a luxury collection of everyday items, and also opened a café inside the Fifth Avenue outlet.
After outlet store sales stopped growing over the past two and a half years, Tiffany & Co. has decided to meet shoppers wherever they are in the busy streets of New York.
The jeweler is launching pop-up shops in Grand Central Terminal and Rockefeller Center, according to the New York Post, with both temporary stores opening in time for December holiday season. Shoppers will be able to buy their cheap Tiffany jewelry and accessories pre-wrapped at both locations.
According to the Post, Tiffany’s new pop-up game is copying Cartier, which set up a pop-up next to the Fifth Avenue Apple store and subsequently turned it into a permanent location.
Tiffany & Co has announced to plans to open a store in Birmingham. The iconic jewellery brand, often associated with movie star Audrey Hepburn, is coming to the city. The boutique will be opening in Selfridges Birmingham on November 16.
Located on the store’s fourth floor, the shop will stock the brand’s jewellery and watches collections from the iconic Tiffany T range, Fleur de Lis and Tiffany Outlet City HardWear to the CT60 and East West watches collections. Audrey Hepburn famously gazed through the window of the New York store as Holly Golightly in the film Breakfast at Tiffany’s.
It’s also known for its cheap Tiffany blue boxes, heart necklaces and key pendants. The American brand has a 175 year history and the first Tiffany outlet store in the UK opened in 1986.
This launch will be the eleventh in the country and third in Selfridges, joining its already existing stores in Selfridges London and Manchester Exchange Square.“We are delighted to be opening this boutique in Birmingham, further building upon Tiffany’s long and successful presence in the UK,” said Barratt West, vice president and managing director of cheap Tiffany & Co UK and Ireland.
“Birmingham is a city on the move and a growing luxury marketplace with a vibrant cultural scene. “We are proud to be part of this exciting time for the city.”
It joins other jewellery brands at Bullring, including Pandora , Links of London , Goldsmiths, Omega Boutique, Swarovski and Thomas Sabo. Top New York fashion label Coach has just launched its first standalone store at Bullring too. The 280 square metre space on the Upper East Mall offers the brand’s full range of bags, footwear, outerwear and accessories.
Bullring is fast becoming the place to go for jewellery, shoes and accessories, with stores like Dune , Irregular Choice, Jones Bootmaker and Office already residing in the mall. Autumn sales are in full flow at Bullring too, with up to 50 per cent off in stores like Oasis and Warehouse and big discounts in Debenhams, River Island and H&M too.
And, for students looking for a bargain, there will be a Student Sessions evening on October 12 when Bullring stores will be offering a night of exclusive offers, competitions and more. Access to the event is through ticket only so make sure you log in via the Bullring website to get your ticket.
The luxe replica jewelry chain saw net sales bump 3 percent to $959.7 million in the second quarter ended July 31, beating the analysts’ average estimate of $930.3 million. Net income rose to $115 million, or 92 cents per share, in the reported quarter, from $105.7 million, or 84 cents per share, a year earlier.
More good news came from Asia. Tiffany outlet, which gets about 15 percent of its revenue from Japan, saw sales rise 3 percent in Japan for the second quarter.
Here in the U.S., however, growth is somewhat stagnant.
According to Reuters, comparable sales in the Americas fell 1 percent due to lower tourist spending and weak demand. However, the flagship outlet store — despite being located on the ground floor of the heavily guarded Trump Tower — is doing well.
The Fifth Avenue store “returned to a relatively normal flow of customer traffic following the disruption immediately after the 2016 election, and was not a drag on overall sales in the quarter,” according to Tiffany outlet vice president of investor relations Mark Aaron on a Thursday conference call.
Recall how the Fifth Avenue Business Improvement District estimated that local businesses around Trump Tower, like cheap Tiffany & Co., have in aggregate lost $40 million in revenue since Election Day.
The news is a silver lining for Tiffany outlet, which reported an unexpected drop in same-store sales three months ago. Investors were expecting a modest increase but saw a 2 percent drop in same-store sales for the three months ended April 30.
Tiffany’s shares rose more than three percent in early trading Thursday before dipping to $86.81 as of 2:34 EST PM.
Tiffany & Co. has unveiled its first campaign with Reed Krakoff who was appointed as the brand’s new chief artistic officer earlier this year.
Fronted by six fashion personalities from diverse disciplines, the AW17 advertising campaign celebrates the power of individuality and self-expression.
“Tiffany has always stood for the ideals of creativity, passion and optimism,” shares cheap Tiffany & Co chief artistic officer, Reed Krakoff. “These portraits epitomize individuality, embracing the natural beauty and unique style of each talent.”
The fall campaign represents Reed Krakoff’s first creative expression for the house.
Tiffany’s creative team led by Krakoff, called upon acclaimed fashion photographers Inez & Vinoodh to capture the distinct portraits as well as behind-the-scenes video, each styled with iconic Tiffany replica jewellery.
The six personalities fronting the campaign are: Elle Fanning; Zoe Kravitz; Janelle Monae; Cameron Russell; David Hallberg; and Annie Clark.
Overall the campaign reflects the personal style and influence of the men and women who have worn Tiffany jewellery outlet throughout the brand’s 180-year history.
These images will appear in print and video, as well as across social media platforms.
There’s a Tiffany for every point in your life. Exhibit A, the brand’s Asia Pacific vice president for marketing and communications Erica Kerner: “The brand I have had the longest relationship with in my life is Tiffany outlet. When I was born, I was given a Tiffany rattle. Every major moment in my life, I celebrated it with Tiffany — from when I graduated from middle school, I got the keychain with a little globe and an airplane; to when I turned 16 and I got a Return to Tiffany’s Sweet 16. When I got engaged, I got a replica Tiffany engagement ring and when I got married, I registered my wedding gifts at Tiffany outlet. Every big occasion I celebrated with a gift from Tiffany,” she tells YStyle during the cheap Tiffany Hardwear Manila launch at Bank Bar last week. No doubt this long personal attachment is what pretty much got her the job when she first interviewed for the brand.
For most of us, an affinity with Tiffany begins with a dream — just like the one that inspired the dreams of Holly Golightly herself in the film rendition of the Truman Capote classic, the brand’s iconic status equaled only by that opening sequence where Audrey Hepburn exits a yellow cab at daybreak, sinks her teeth into a brown paper bag croissant, still in last night’s pearls and Hubert de Givenchy LBD, to the tune of Moon River.
Such was the dream for Gliceria Rustia Tantoco, the founder of Rustan’s herself, making her daily pilgrimages to Tiffany’s Fifth Avenue spot whenever she found herself in the Big Apple as her daughter, Rustan’s member of the board Maritess Tantoco-Enriquez, recalls; and so too with her granddaughter, Rustan’s marketing communications manager Dina Arroyo-Tantoco. In the Philippines, Tiffany & Co has been in Rustan’s Department Stores since 1993.
“I never lived in New York, but whenever I traveled to the US, I always have to go. I always passed by the Tiffany outlet store — thinking of Audrey Hepburn in the film — and then I got married,” Arroyo-Tantoco says before showing me something shiny: “It’s my wedding ring.”
It’s a love affair the two Tantoco girls have inherited. “Tiffany has a beautiful South Sea pearl collection but there was a collar necklace that had huge, all-perfect pearls in practically the same size. Those are very hard to find,” Tantoco-Enriquez shares. “I told my father about it, so for their anniversary, he surprised her with it. She was so happy she wore it almost every day. After she passed away, that same necklace went to me and so did most of her Tiffany pieces” She is wearing one of her favorites, a necklace from the Atlas Collection.
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Rustan Commercial Corporation president Donnie Tantoco also felt a connection with a particular Tiffany piece: a rosary designed by Elsa Peretti, which he gifted to his grandmother when she was 91 years old. He notes, “She really believes in the rosary. It is the weapon of her life. Somebody took a picture of me giving it to her and Tiffany’s saw the photo after she passed away. They realized this came from her so they gave it back to me. It is now the rosary that I keep with me.”
He continues: “Tiffany is the only true luxury brand that’s from the United States. My grandmother loved that, on one hand, they had all the expensive, most beautiful, exquisite pieces that catered to the most affluent people in the world; but its also accessible luxury, because on the other end of the spectrum are pieces that are aspirational with the Tiffany outlet quality and artistry yet affordable. It’s democratizing quality that only a luxury brand from and in America can do.”
That’s why, for the longest time, the brand has eschewed celebrity endorsers. “We’ve always worked with celebrities for dressing during the Oscar’s season and for parties more as friends of the house so it is more organic,” Kerner explains. “As we move into the Hardwear launch we wanted to give it a new face.”
The first Tiffany Hardwear is a unisex bracelet from 1971, and previous design director Francesca Amfitheatrof took off from the spirit of equality, empowerment and breaking proverbial shackles from the ’70s in a collection that purports to “embody the power and spirit of New York City and the energy of its streets” in today’s context. Like the original, there are chunky rounded links as necklaces, bracelets and earrings. Some have a detachable cheap Tiffany & Co padlock and an oversized metal sphere hanging on them, and can be worn as a long sautoir or wrapped several times — Golightly-style — around the neck or wrists. The links and balls also appear as earrings. Everything is in sterling silver or 18-carat yellow or rose gold. The links and balls have utilitarian connotations but its glossy finish and rounded edges are anything but; it is also more voluptuous and rounded that its predecessor, but it imbues a similar insouciance.
So, from birth to Sweet 16 to weddings and anniversaries, what’s the grand occasion for the new Hardwear which looks smashing on a black turtleneck like Lady Gaga dons it for the Grace Coddington-directed and –styled campaign, or a white tee as I picture it with? “You don’t need a special occasion for jewelry like this. It can just be a Tuesday!” Kerner encourages.
As Lady Gaga puts it: “Jewelry gives you the opportunity to pump up the volume of what you’re wearing but the joy is the real romance of jewelry. It is a misconception that a man or your lover has to buy your jewelry. A woman can buy herself jewelry and put it on with dignity (knowing) that you’ve earned it.”
Hardwear is Amfitheatrof’s swansong as Reed Krakoff (of Coach fame) assumes the chief artistic officer role, but Hardwear is indicative of the brand’s shift of gears. “Krakoff has been spending a lot of time with our craftsmen, in the archives, really studying Tiffany’s history and reimagining the brand. The one that fully has his standpoint is the home and accessories line which will be in the Philippines early next year and during the holidays in the US this year, reimagining the brand in a fun and whimsical way,” Kerner reveals, but emphasizes, “Tiffany’s jewelry designers and craftsmen have been with the brand for 30 and 40 years so even if we have a new creative director, they are at the heart of the brand; that’s what Tiffany’s is about.”
Today Tiffany & Co. reported results for first quarter ending April 30, 2017. While worldwide sales rose 1% YoY, sales in the Americas were down 3% and comparable store sales dropped by 4%. These results compare unfavorably to the UK retail jewelry market overall, which rose 1% for the first three months of 2017, as reported by the UK Census Bureau.
Tiffany’s fortunes depend heavily on the UK market. Overall the Americas accounted for 46% of the company’s $4 billion in sales last year, and the UK represented nearly 90% of the Americas’ revenue. The first quarter weakness in UK sales certainly will be a drag on the company for the rest of the year, as it remains focused on achieving low single-digit growth in 2017, following last year’s 3% worldwide decline.
The company identified four key initiatives to drive topline growth this year:
Enhancing global distribution with plans to renovate, relocate and in some cases close some of its 310 stores. In the U.S. the company did a makeover to its San Francisco flagship store, which is located in one of the most affluent communities in the country.
Client telling and CRM strategies to drive store traffic and increase customer conversion rates. With just under 100 U.S. corporate-owned stores, Tiffany has got the nation’s major MSAs covered, so pulling more people into their stores and converting them once they are there is key.
Build greater brand awareness via marketing communications, though I’d argue that Tiffany is already one of the world’s most recognized brands.
Introduce new products at a faster pace. And this is where I pause…
Earlier this year Reed Krakoff, former president of Coach, joined Tiffany Outlet as Chief Artistic Director, taking over responsibilities for design of the Tiffany & Co. brand jewelry from Francesca Amfitheatrof. He also is tasked with launching a new luxury accessories, gifts and home decor collection. Tiffany has played in this space before, but the non-jewelry lines accounted for only about 7% of corporate sales last year.
There is no question that the Tiffany Blue Box adds cache to a gift, but I’m not sure a Tiffany-branded line of gifts, home decor and other accessories is going to be the draw the company needs to invigorate sales in the UK The gifting market depends heavily on the wedding business, and Tiffany is struggling in the engagement and wedding jewelry portion of its business. In the Americas, 22% of sales are attributed to the engagement/wedding jewelry category, as compared with 28% worldwide. This, no doubt, is a reflection of lower marriage rates in the UK and young American bride’s willingness to ignore the tradition of the diamond engagement ring.
Just given Krakoff’s resume, one would assume a major emphasis of the replica Tiffany luxury accessories line will be leather goods. At Coach Krakoff’s touch was golden up to the recession, but then things started to go south. He left Coach in 2013 to launch a namesake brand, but eventually closed shop in 2016 as sales didn’t materialize.
Frankly, I don’t know what Tiffany outlet brings to the already over-crowded handbag market. Sure, Tiffany will probably sell some, but not enough to turn its business around in the UK Not to mention, whether the company can recoup the investment it will need to make to advertise and promote a fledgling leather goods fashion brand.
Then there is Tiffany’s fashion replica jewelry, aimed at the lower-end of its range, though quite luxurious when compared with other silver fashion jewelry lines. This is the workhorse for Tiffany outlet in the UK, accounting for 34% of sales in the Americas, but which it seems hesitant to exploit to its full potential. Being ‘mass-luxury,’ it is feared to threaten Tiffany’s ‘true’ heritage luxury position. This is a challenge common to many luxury brands that few have been able to successfully navigate, but Tiffany’s future will depend upon it learning how to coexist in both the mass and true luxury markets.
Fashion jewelry is cheap Tiffany’s path to the next generation of luxury customers, who today are young HENRYs (high-earners-not-rich-yet). Its new fashion collection, called HardWear, launched with Lady Gaga, shows early promise to appeal to the luxury-aspiring, young affluent professional woman it targets.
Lady Gaga may not yet have the icon status for this generation that Audrey Hepburn did for the Baby Boomers back in the 60s, but she has definitely matured from her early pop-star exploits to become a highly respected artist, not to mention this girl can sing! Tiffany’s fortunes may well be written in this star.
Tiffany & Co.’s new HardWear collection is only just being released in stores and outlet online today, but fashionable celebrities have already been spotted wearing the chic designs.
Kate Mara wore her 18 karat yellow gold wrap necklace for a daytime stroll in a casual sundress, while Karolina Kurkova accessorized an all-white ensemble with the ball hook earring in 18 karat yellow gold. Scarlett Johansson attended an event where her cropped hair showed off the chain link earrings.
For Tiffany & Co.‘s Los Angeles event celebrating replica Tiffany HardWear, co-hosts Zoë Kravitz and Riley Keough both of course wore pieces from the fake Tiffany collection sale, as did Vampire Diaries actress Kat Graham.
The collection of 18k gold and sterling silver pieces is a far cry from the classic engagement rings and fine jewelry styles often associated with the brand; instead, these items lean more towards the modern design side of cheap Tiffany & Co.
Interestingly enough, the collection, comprised of earrings, bracelets, rings and necklaces, is inspired by a unisex bracelet from the 1971 Tiffany outlet Archives. It “embodies the strength and spirit of the modern woman, imbued with the soul of New York,” per a statement from the brand, so it’s fitting that Lady Gaga is starring in the Legendary Style campaign for the HardWear collection—the ad debuted during Super Bowl LI.
The collection ranges from pieces like a dangling ring to wrap bracelets and triple drop earrings.
Now that the HardWear collection is available online and in Tiffany outlet stores worldwide, you’re sure to see even more stars wearing the jewelry. Scroll through the slideshow above to see all the chic ways celebs have styled the HardWear collection.
Now available worldwide, Tiffany’s new City HardWear jewels feature wrecking balls, heavy chains and padlocks fit for even the fiercest Millennial.
From 29 April 2017, Tiffany fans around the world can head to their nearest boutique and purchase the brand-new City HardWear jewels launching on that day. Since the jewels were first glimpsed on brand ambassador Lady Gaga in an advertisement shown at the Super Bowl way back in February, the American jeweller has been pumping up the anticipation around the collection.
Having Lady Gaga in the advertising campaign is a sure-fire strategy for getting the collection noticed and the jewels are as bold and defiant as the singer herself. “I love cheap Tiffany City HardWear because it’s different and elegant – but it’s not what you would expect of elegance. That’s like me I think – I’m a bit different,” said Lady Gaga. “To me, Tiffany is definitive and iconic, yet continues to push and evolve with the times.”
The simple, graphic shapes of the all-metal jewels emanate strength and confidence. Thick chain links and solid-gold balls express the energy of New York, tapping into the raw industrial chic of the city. Based on a 1971 drawing from cheap Tiffany’s archive of a unisex bracelet, Tiffany’s designers have reinterpreted the form in a new chain link double-wrap bracelet, above, as well as earrings, a ring, a necklace and a pendant.
The little ball, a perfect and highly tactile orb, playfully swings from the ring, above, or it can be detached and worn in a variety of ways, combined with the chunky gauge-link bracelet and necklace. A mini Tiffany padlock can also be moved around to create different looks. The purity of lines is a careful study in minimalism and even the links of the necklace are graduated to sit comfortably on the neck, with the clasp perfectly integrated into the smallest link at the back.
“I think a woman can buy herself replica jewellery and put it on with dignity,” says Lady Gaga in the trailer to the film. These jewels will definitely add swagger to a girl’s step as the bold chains, big bracelets and statement earrings shout ‘girl power’.
NEW YORK, April 25 — After 2015’s water theme and 2016’s transformation, replica Tiffany & Co has once again sought inspiration in nature for 2017’s prestigious Blue Book collection. This year’s offering, dubbed “The Art of the Wild,” includes a selection of exceptional jewellery creations, including some of the brand’s most spectacular pieces, combining expertise, art and creativity.
Known for the beauty of its diamonds and precious stones, cheap Tiffany & Co presents a series of prestigious jewellery creations each year with its Blue Book collection, showcasing the creativity, skills and expertise of its studio. The collection brings diamonds, precious jewels, pearls and 18-karat yellow gold to necklaces, rings, bracelets and earrings with designs inspired by specific themes.
“We continuously push the boundaries of craftsmanship and innovation in every way. Every single year we’re looking for different ways to produce pieces that are so technically complicated, they seem almost impossible, but this is where we make the impossible happen,” says Melvyn Kirtley, Tiffany and Co outlet chief gemologist and vice president of high jewelry.
Nature: Wild, magical and changing
Each year, nature returns as a source of inspiration for the Blue Book collection. This year, in particular, the studio harnesses the unbridled beauty of a tropical island.
The creations are split into six distinct themes: “Whispers of the Rain Forest,” about nature’s constant agitation, “Miracle Berry,” inspired by the magical powers of a berry, “The Falls,” evoking the power of waterfalls, “Leaves of the Sun,” nodding to regeneration, “Feathered Cloak,” celebrating the flamboyant colours of exotic birds, and “Yesterday, Today and Tomorrow,” inspired by the metamorphosis of flowers.
“The Art of the Wild” features exceptional jewels, including baguette- and round-cut diamonds, spessartites, rubellites, tsavorites, sapphires, black South Sea pearls and tourmalines.
Standout pieces include a ring featuring a 13-carat oval elbaite tourmaline, a platinum necklace with 200-baguette cut diamonds, round pavés diamonds, and more than 350 hand-sculpted 18k yellow gold leaves, and a pair of palm leaf earrings with tsavorites, yellow sapphires and black pearls.
The Tiffany & Co Blue Book 2016 was entitled “The Art of Transformation” and the 2015 edition was themed “The Art of the Sea.” — AFP-Relaxnews