Essay On Tiffany Industry

1840 Words4 Pages

External and Industry Analysis
Tiffany & Company: Jewelry and Accessory Industry
Tiffany & Company was founded in New York in 1837 by Charles Lewis Tiffany and John B. Young. The business first started out as stationary and paper goods store, but in 1853 Tiffany’s became a jewelry store. Over the years, Tiffany’s as added 63stores, in 22 countries and is currently worth north of $3.6 billion dollars. I chose Tiffany & Company because it is a company that continues to stay relevant 177 years after it was first founded. This company also offers a look into what it takes to thrive in an ever changing world and economies.
External Analysis
 Trends
Tiffany & Company is a company that prides itself on being a classic and timeless company, but as times change so do business trends. So how has Tiffany made changes to keep what with other jewelry “chains”? I order for them to always be relevant, Tiffany has lines of “cruelty free diamonds”, they have learned to adjust to economic crises, and they use social medial to promote their product. Trends always change and Tiffany is doing a great job keeping up with them.
 Changing Factors
• Technology
Tiffany & Company is up to date in all aspects of technology. The company has an online shopping site; Facebook, Twitter, and Pinterest accounts; and “advertising” in movies and TV shows.
• Tastes
Like most companies, Tiffany & Company change certain aspects of the company in order to keep up with their ever changing customer. When Tiffany first started selling “real” jewelry, their products included watches, clocks, moccasins, belts, and silverware. Their most popular product by far were the items made of silver. In 1867, Tiffany had become so famous for their silver; they began supplying ...

... middle of paper ...

...tbound Logistics: The outbound logistics include the movement of the finished goods from the manufacture to the retail stores or a warehousing facility for later use.
Marketing and Sales: Tiffany uses magazine ads, celebrities, and movies and TV show to promote, market and sale their products. The company appeals to want the customer “needs”.
Service: With all of the support that is offered to the customer through social media or through the website and telephone, Tiffany offers the greatest amount of support to their customers both before and after a purchase.
 Synergy
Tiffany has great synergy with a large number of companies. The companies that Tiffany has this synergy with is Facebook for advertising; guest designers; sports teams, Tiffany makes both the Super Bowl rings and trophy; and many others. This is a company that collaborates often and seamlessly.

Open Document