71
+9%
5,936 $m

With 176 years of rich heritage and a name that is still synonymous with timeless luxury, Tiffany has strong brand equity. Its ability to command higher prices and drive sales, particularly in the Asia-Pacific region, continue to fuel growth. At the close of Q1 2014, Tiffany reported 50 percent growth in net earnings, with USD $1 billion Q1 revenue. Building on that, Q2 results were better than expected, suggesting that recent management changes are taking effect.

The company is appealing to a broader consumer base with its lower cost Atlas collection and the more contemporary Tiffany T line, the first designed by new Design Director Francesca Amfitheatrof. It remains to be seen if this strategy will diminish the premium image of the brand over the long-term. The luxury "blue box" brand, for example, is the company's main asset. But, so far, the approach has paid off. 

In 2013, Tiffany invested USD $247.5 million (6.1 percent of worldwide net sales) on advertising, marketing, and public and media relations. The company's continued sponsorship of high profile events like the U.S. Open tennis tournament, and its association with the 2013 film, The Great Gatsby, consistently reinforced the brand's image of exclusivity, prestige, and uniqueness.  Though a joint venture with Swatch caused the brand some problems, costing Tiffany USD $449 million in damages, the ruling does not appear to have impacted the brand's short or long-term business plans.

Tiffany has also been playing up the theatricality of its in-store displays and launched a redesigned website last year. By putting greater emphasis on storytelling and providing more engaging content, including video and high-resolution images of jewelry, Tiffany clearly understands that its customers want more than just us a shopping experience-they want to "immerse themselves in the world of Tiffany." 

With an e-commerce experience that mirrors the class and opulence of its in-store experience-and innovations like an Engagement Ring Finder app that assists consumers in finding the ring of their dreams-Tiffany & Co. will be relevant for years to come. 

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