Published Online:June 2024
Product Name:The IUP Journal of Business Strategy
Product Type:Article
Product Code:
Author Name:Faria Zafar and Indu Perepu
Availability:YES
Subject/Domain:Strategic
Download Format:PDF
Pages:15
US-based Tiffany and Co (Tiffany), founded in 1837, manufactures and markets fine jewelry, watches, and accessories. The brand is synonymous with luxury, fine craftsmanship, and innovative design. However, Tiffany has lost its luster and is struggling to grow. It has seen a decrease in the emotional connect customers had with it and a decline in the overall positive perception of the Tiffany brand in the modern world. The decline was not only on the emotional front but also in demand and sales. In November 2019, Tiffany and French luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton (LVMH) announced a merger deal. In October 2020, the deal almost collapsed due to the French government's intervention. Eventually, the deal did go through, albeit at a price lower than what had been agreed upon earlier
US-based Tiffany and Co (Tiffany), founded in 1837, manufactures and markets fine jewelry, watches, and accessories. Tiffany has been considered a status symbol and is patronized by top socialites as well as the political elite from across the world. The brand is synonymous with weddings and anniversaries. But over a period of time, the company has lost its luster. Millennials are turning to other brands and Tiffany is struggling to grow. Neil Saunders, Chief Executive of retail research firm Conlumino, said, “The brand is not seen very negatively but it is seen as being somewhat tired and traditional.”