Tiffany & Co Announces a Bold New Replica Jewelry Collection

Tiffany & Co. has announced its Tiffany HardWear, a new replica jewelry collection that embodies the power and spirit of New York City and the energy of its streets. The collection name and designs draw inspiration from the urban soul of the city, where the modern rebel mixes high fashion with street style.

Tiffany HardWear is as classic as it is edgy. Inspired by a unisex bracelet from 1971, the collection has been re-imagined to include earrings, rings, necklaces and pendants, and goes perfectly with a leather jacket as it does with couture.

The metal-intensive designs capture the industrialism of the city. The signature gauge links at the heart of this graphic collection reflect the clean, simple shapes of utilitarian hardware. A chain necklace in 18k gold features graduated links that shift in scale, with a clasp that seamlessly disappears into the piece. A reinterpretation of the original design is embellished with a detachable lock and ball for versatile styling. The unique bolt backing on a pair of triple drop earrings makes for a perfectly symmetrical design, as striking from the back as it is from the front.

Tiffany HardWear will be available on beginning May 2 and in stores including Las Vegas on April 28.

Tiffany is the internationally renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates Tiffany outlet. retail stores worldwide, and also engages in direct selling through internet, catalog and business gift operations. For additional information, visit

Tiffany & Co., T&Co., Tiffany and HardWear are trademarks of Tiffany and Company and its affiliates.

Replica Jewelry firm Tiffany makes patchy progress

The high-end replica jewelry firm Tiffany is making “patchy” progress but it is not yet back to full health, according to one retail expert.

Better sales in Japan and China helped it to report a 1.3% rise in sales to $1.23bn between November and January.

It has struggled with sales in its home US market, particularly among the younger generation.

Sales at its New York store, close to Trump Towers, were hit by the extra security, which disrupted access.

The company said it saw customer traffic dip by about 14% in November and December. The flagship store accounts for a significant part of the group’s sales, sometimes up to 10%.

But it is thought that should improve now that President Donald Trump has moved to Washington, although Melania Trump and son Barron Trump still live there.

‘Old-world luxury’

Neil Saunders, managing director at Managing Director of GlobalData Retail says the company’s troubles range more widely than the flagship stores and lower tourist spend.

“Tiffany is a brand that is increasingly overlooked by American consumers, especially younger demographics, who see it is as old-world luxury.

“Just as was the case at the start of the year, Tiffany outlet is still failing to connect with many shoppers segments and continues to lose ground to rivals,” he says, adding that Europe was also a problem region for the company.

Christmas has also become less important for jewelry buying, a key driver for cheap Tiffany sales, a “distinctly unhelpful” trend, Mr Saunders says.

“While it remains the most important single period for purchasing, it accounts for a much smaller share of annual sales than it once did,” he says.

Lady Gaga starred in a Tiffany’s advert during the Superbowl

The company’s newly-installed interim chief executive, Michael Kowalski, remains positive:

“Despite macroeconomic and geopolitical challenges in the past year that we believe will continue in 2017, we strongly believe that Tiffany’s strategies are sound and that we have meaningful growth opportunities,” he said in a statement accompanying the results.

Net profit fell to $446m million in the quarter, compared with $464m the previous year.

Looking ahead, Mr Saunders believes the new management team need to bring about a “fundamental” change in products and approach to selling. He says the Superbowl advertising which highlighted Lady Gaga as the face of the brand was a good start in bringing a more contemporary feel to the firm.

But he says the company also needs to update the stores and get away from the wood lined walls and thick carpets that give the shops an old fashioned feel.

Four reasons Tiffany will continue to shine

Shares of Tiffany & Co., the American luxury jewelry retailer, could rise further as the company’s margins and earnings improve, according to Jefferies.

Tiffany shares have risen almost 15% this year.

“With a strong brand that has supported pricing power historically coupled with recent and future talent upgrades, we believe shares can still rise from here,” said a team of Jefferies analysts led by Randal J. Konik.

Their investment outlook was based on four catalysts.

Fashion jewelry comeback

Tiffany is succeeding in its efforts to revive customer interest in fashion replica jewelry.

“The reinvigoration of fashion jewelry is underway, visible to us (and consumers), and beginning to show in the numbers,” they said.

“Last quarter, fashion jewelry posted a modest increase year-over-year and sterling silver stabilized with sales up slightly due to the popularity of the Return to cheap Tiffany Love Collection.”

Tourism growth

Tourists have long been a major source of sales for Tiffany outlet, accounting for about 25% of total US sales and 40% of sales in its flagship New York store.

“While challenges exist on the tourism front, travel and spending data indicate trends are stabilizing or improving,” Jefferies said. “Total international passengers traveling to the US increased +1.0% y/y for the most recent fiscal quarter measured.”

Pricing power

Despite competition, Tiffany replica has built a strong brand with enough pricing power to protect margins.

“With a higher-income consumer that is particularly strong given the recent rise in equity markets and well-positioned with the potential for lower personal income taxes,” Jefferies said, “we believe TIF is one of a few retailers under our coverage with clear pricing power.”

Growing market share

Tiffany has grown its international market share, and looks set to maintain its growth.

“Tiffany has used its strong brand name to gain share in the market,” they said. “Given the market that Tiffany outlet operates in, along with a strong brand that affords significant pricing power, the company is not susceptible to Amazon or Walmart.”

Finally, Jefferies said Tiffany also trades below peers both on a P/E and EV/EBITDA basis.

The company is expected to release its next quarterly earnings report on Friday. Previously, it reported a worldwide drop in comparable store sales of 2%, owing to exchange rate effects, during the holiday season of the two months ending March 16, 2017.

Tiffany Markets Insider

Tiffany shares lose sparkle as chief executive departs

Pedestrians pass in front of the Tiffany & Co flagship store on Fifth Avenue in New York

Shares in upmarket US jeweller Tiffany lost some of their lustre on Monday, after the abrupt departure of its chief executive sparked uncertainty following a disappointing holiday season.

Frederic Cumenal has been replaced with immediate effect by board chairman and former chief executive Michael Kowalski, Tiffany said in a statement late on Sunday.

The news sent its shares down 2.5 per cent to $78.49 in New York on Monday, cutting Tiffany’s 12-month rise to 26 per cent.

The group said its board was committed to existing core business strategies, “but has been disappointed by recent financial results”. It has been working to add more sparkle to the customer experience at its stores and freshen its product assortment, something Tiffany said it plans to accelerate.

Mr Cumenal’s departure comes after the company, known for its blue boxes, recorded lacklustre sales during the holiday season. Like-for-like sales fell 2 per cent in the two months to the end of December compared with 2015. Net revenues ticked up to $966m from $961m.

The tepid performance during the key shopping season was driven by a 4 per cent fall in like-for-like revenues in the Americas, its biggest market. Tiffany outlet online attributed the weakness to lower consumer spending and a 14 per cent drop in sales at its flagship store on New York’s Fifth Avenue.

The store sits directly next to Trump Tower and was subject to intense security measures when Donald Trump used the building as his main office during his transition to the White House.

For the fourth quarter, Wall Street analysts believe Tiffany’s like-for-like sales fell 1.1 per cent, marking the fifth consecutive quarterly decline. Revenues are forecast to come in at $1.21bn. The group is due to report on its fourth quarter on March 17.

Tiffany reported a 2 per cent fall in like-for-like sales in the third quarter, though net revenues edged up 1 per cent to $949m.

Mr Kowalski will serve as interim chief executive while the group seeks a permanent replacement for Mr Cumenal. Mr Kowalski was the company’s chief from 1999 to April 2015, when Tiffany promoted Mr Cumenal, who joined the jeweller in 2011 from champagne brand Moët & Chandon, to the top spot.

Mr Cumenal’s departure represents the third big shake-up to Tiffany’s executive ranks in the past 10 months. Former finance chief Ralph Nicoletti left in May to assume the same role at consumer goods group Newell Brands. Tiffany replica also announced last month that it had appointed Reed Krakoff as newly created chief artistic officer.

“While we still consider Tiffany as a foremost luxury brand with multiple long-term drivers, we are concerned with the multiple executive changes,” said Betty Chen, an analyst at Mizuho who cut her rating on the stock to “neutral” from “buy” after the news of Mr Cumenal’s exit.

Simeon Siegel at Nomura added that the timing of the release, which came just hours before Tiffany’s Super Bowl half-time advertisement starring Lady Gaga, “may lead to investor questions”.

Still, Randal Konik at Jefferies said investors would welcome the change of leadership, “as the outgoing CEO did a great job of protecting the brand but didn’t communicate as much urgency in product newness”.

Tiffany And Co CEO resigns amid disappointing sales

Tiffany & Co’s Christmas sales were ‘somewhat lower’ than expected.

On the heels of reporting disappointing sales for the festive period, Tiffany And Co CEO Frederic Cumenal has resigned after less than two years in the role.

The company’s previous CEO and current board of directors chairman, Michael Kowalski, will hold Cumenal’s position until a replacement is found.

A Tiffany And Co statement provided no reason for the resignation, which was effective immediately. Cumenal was appointed CEO in April 2015 and served as Tiffany And Co president prior to that.

In the statement, Kowalski acknowledged Cumenal’s contributions to the company.

“At a time of continuing challenges in the global luxury market, Frederic has enhanced the management team and taken important steps to position Tiffany outlet for success in the long term,” he said.

Kowalski added that the board was committed to current core business strategies, which included enhancing the customer experience and increasing the range of product releases, but was disappointed by recent financial results.

“The board believes that accelerating execution of those strategies is necessary to compete more effectively in today’s global luxury market and improve performance,” he said.

Poor Christmas sales

Frederic Cumenal, Tiffany & Co former CEO

The company recorded global net sales of US$966 million for the two-month period ended 31 December 2016. Net sales for the same period in 2015 totalled US$961 million.

Same-store sales for the two months ended 31 December 2016 decreased 2 per cent.

In announcing the figures in a statement, dated 17 January 2016, Cumenal said the results were “somewhat lower” than expected.

He added that the board did not “anticipate any significant improvement in 2017 to the macroeconomic challenges that we faced this year”.

In the Asia-Pacific region, total sales increased 7 per cent to US$200 million, while same-store sales declined 4 per cent.

In the Americas, total sales and same-store sales were 4 per cent lower than the previous year. The decline in US sales was said to have been exacerbated by a 14 per cent decrease at its flagship Fifth Avenue store.

Total sales in Europe were 10 per cent below the previous year, Japan recorded an increase of 16 per cent and combined sales across all other operating markets rose 33 per cent.

Michael Kowalski, Tiffany & Co interem CEO

As of 31 December 2016, there were 314 company stores – 125 in the Americas, 86 in Asia-Pacific, 55 in Japan, 43 in Europe and five in the United Arab Emirates.

Cumenal’s resignation follows news in January that replica Tiffany And Co design director Francesca Amfitheatrof would leave the company after three-and-a-half years. Fashion designer Reed Krakoff was appointed to newly created position chief artistic officer, effective 1 February.

The company’s 2016 fiscal year results and expectations for the 2017 fiscal year will be released on 17 March 2017.