Why is noble Tiffany doing a cafe business?
Tiffany’s biggest problem is that, as mentioned in the two articles above, it has been out of the box from product to marketing. Therefore, we see that even in the year of the luxury market recovery, Tiffany is still negative in the same store sales, although the company has pushed this performance responsibility to the main Fifth Avenue flagship store because of the strong dollar and anti-Trump Action (Tiffany New York flagship store adjacent to the Trump Tower), but the two reasons are not convincing.
A modern urban independent woman is willing to spend $2,000 to buy a Tiffany ring, or is it willing to buy 20 or 30 beautiful fashion DIY Pandora bracelets at the same price?
I have been comparing the two brands because, in the past two years, the two brands have been the opposite. Many people also laughed at how the two brands can be compared. The two brands are not competitors at all.
If Tiffany’s own management talent thinks this way, I am afraid it will be another negative factor of the brand. But I think that the old management of Tiffany, from the chairman to the CEO, after being fired, the new management will not think so.