5,440 $m
Tiffany & Co. celebrated its 175th year in 2012 with new collections, global expansion, and early 2013 performance exceeding expectations. Creating the Jazz Age collection for Baz Luhrmann’s The Great Gatsby 3-D motion picture, it revived classic designs with a modern twist. Tiffany also renewed its 20-year collaboration with Italian designer Elsa Peretti and introduced the Ziegfeld collection, the Harmony engagement ring, and a reinterpretation of its iconic Atlas collection. The brand also expanded in growth markets, opening 28 stores in Brazil, the Czech Republic, and China. Preparations are now underway for the 2014 opening of its largest European boutique, a multi-story, 10,000 square-foot flagship store on Paris’ Champs-Élysées. Tiffany & Co. shares are performing well, with Forbes declaring in a recent headline: “Tiffany Looks Like a Jewel for the Bulls.” This year the brand filed a trademark infringement lawsuit against Costco regarding diamond rings resembling the Tiffany setting. Tiffany continues to lead the conversation with the mining industry, NGOs, and local communities on responsible operating standards. The brand was listed in the FTSE4Good Index for its environmental sustainability, human rights, and supply chain labor standards. Tiffany faces a tough balancing act as the brand continues to expand its global footprint, product offerings, and consumer base. While a strong silver offering broadens the brand’s consumer base, representing higher margins, it could also dilute its luxury image and cause consumer confusion.