FASM 245-02, Michael Cohen Elisa Hangasjaervi, Valentina Shan, Carissa Hanley, Madison Donaldson
Strenghts
Weaknesses
• Strong Brand Identity (Blue Box)
• Out-of-date images: a turnoff for some young customers
• Sustainable
that are fond of contemporary and modern designs
• Broad Range of Products
• Sales are heavily influenced by holiday seasons
• Leader in luxury jewelry: 96 stores in USA
Opportunities
Threats
• Better service in customization: privide more detailed info
• The lower-priced lines of products might turn off
online
affluent customers
• Technology: App development
• Competition • Customers might invest in technology rather than jewelry.
http://www.valueline.com/Stocks/Highlights/Tiffany__A_Short_SWOT_Analysis.aspx#.WpXguIJG2Rs
http://www.businessinsider.com/tiffanys-worst-threat-could-be-apple-2013-1
THE INITIAL IDEA • Plan based on nontraditional diamond cuts and colorful diamonds
• Unique colors and shapes interest the future customers and are the coming trend
https://www.marrowfine.com/pages/about
Heart
Pear
Oval
Radiant
www.Tiffany&Co.com
RINGBAND MATERIALS
Rose Gold
Yellow Gold
White Gold
www.Tiffany&Co.com
DIAMOND COLORS White
Yellow
Pink
ONE IN ONE OUT STRATEGY • Stock held mainly at the warehouse
• Only a few products kept in stores
• Products will be sent to stores whenever requested by a customer
SALES LAST YEAR SALES
THIS YEAR SALES $68,456,960
4%
$65,824,000
RECEIPT PLAN EOM $ 37,000,000
PL Receipts $ 97,584,410
• Heart $ 9,758,440.96 • Pear $ 24,396,102.40 • Oval $ 34,154,543.36 • Radiant $ 29,375,322.88
25%
20%
35%
Small Store Atlanta Budget: $ 878,260 • 0.9% of total sales
• Focus on best sellers and classic looks: - for example, traditional color combinations
https://www.google.com/search?biw=1440&bih=706&tbm=isch&sa=1&ei=1eaVWv3uKonl5gKK4KyIBw&q=tiffany+store+nyc&oq=tiffany+store+nyc&gs_l=psy-ab.3..0j0i24k1l3.1410989.1411596.0.1411900.3.2.0.1.1.0.87.155.2.2.0....0...1c.1.64. psy-ab..0.3.157...0i8i30k1.0.5wZtLIQOxTI#imgrc=VkQp1UbgkgCqcM:
Flagship Store New York Budget: $ 8,782,597 • 9% of total sales
• Diverse categories of products
SPECIAL COLOR COMBINATIONS
Since the beginning, Tiffany and Co. has practiced timeless designs and hand crafted quality in their jewelry. The brand is well known by its iconic tiffany diamonds and the Tiffany Blue packaging worldwide.
With our new engagement ring plan we will enhance the timeless designs with an assortment of colors and trends to build a better connection with our future customers.
Thank You!