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Tiffany and the world's largest glasses maker Lu Xun ladder card renewal contract

 

Recently, Tiffany announced with the world's largest glasses maker Lu Xun ladder card renewal contract statement. The statement said the cooperation period will continue until 2027, representing Lu Xun ladder card will continue to contract the development of new products Tiffany glasses, manufacturing and some retail operations. In addition, Tiffany is just beginning to expand the non-jewelery business transformation period, Lu Xun ladder card will also provide help.
Tiffany said the art director Reed Krakoff will continue to be responsible for Tiffany glasses product development. The most important strategy for the next step is to develop innovative optical eyeglasses and sunglasses with the help of Lu Xun Tacca to solidify the sound operation of Tiffany's broad product portfolio. Krakoff left Tiffany in July 2016 after leaving to be Coach's creative director in 2013 and is responsible for product design for accessories, homeware and gifts. Last month, his first eyewear line, "Avant Premier," was previewed on a small scale at the Tiffany flagship store on Fifth Avenue in New York and is expected to be on sale next May.
About the renewal with Lu Xun ladder card, Jean-Marc Bellaiche, senior vice president of Tiffany Group, said that the glasses products are now Tiffany's key products, and Lu Xun ladder cards can give them more creative designs. Leonardo Del Vecchio, president of Lu Xun ladder card, said that from the beginning of 10 years ago the two groups have established a cooperative relationship, the next step will be to develop more high-end, extravagant glasses products.
2017 is a turbulent year for Tiffany. Frederic Cumenal, the then chief executive, was evacuated due to poor performance and replaced by Alessandro Bogliolo, former Bulgari executive. High-ranking substitutions to internal instability, and later Qatar suddenly sell off its 1/4 of the equity and let the outside world on Tiffany's capital market image in doubt.
Although the entire jewelery industry is in turmoil over the past two years, according to consulting firm Euromonitor International, Tiffany estimates that the 2016 $ 60 billion jewelry market has shrunk by 6.3% and the downward trend will continue into 2022. In-store sales were down 2% in the second quarter of this year, although store sales rose only 3% from the same period in the third quarter, but store sales remained flat only from last year. Even the new product did not cause too much waves, according to the "Wall Street Journal" data show that in 2016 Tiffany's new jewelry sales less than 10%, and even the first luxury watch series CT60 also accounted for only 1% of sales, . E-commerce channel sales are also more sluggish, accounting for only about 6% of total revenue. Although the third quarter opened seven stores, but also closed the original five stores.
In the face of recession in the jewelry market, Tiffany also introduced many new products. For example, in July with Coty Group, launched the first perfume in 15 years. Caroline Naggier, vice president of Tiffany, said that the brand always insists on the positioning of fine jewelry, the main reason for the introduction of perfume is to expand the size of consumers. Taking advantage of year-end holiday, Tiffany also introduced a new daily necessities series "Everyday Objects", this series has aroused heated discussion among consumers. In addition to silver paper cups, bone china paper cups, silver yarn balls and sterling silver new jewelry boxes sold in China, there are 69 products including household products, recreational toys and office supplies. Mostly made of sterling silver, a few have gold and rose gold versions. The prices of these products maintain the level of luxury, and some even reached tens of thousands of dollars. Regardless of whether it can sell well, Tiffany harvested the topic of these products on the heat, the image in the consumer's mind has been consolidated a lot.
In addition, Tiffany also tried some new marketing tools. In an effort to appeal to millennial consumers, Tiffany is aggressively developing low- to mid-end jewelry lines and in December opened its Blue Box Cafe in the flagship store on Fifth Avenue for brunch and afternoon tea. These pleasing young people's move to Tiffany a good quarter of the performance of the third quarter of this year, sales rose 3% to 976 million.
For the transitional Tiffany, the eyewear market worth up to 90 billion US dollars is an important business growth point, high profit margins and loved by young people. For many luxury brands, Lu Xun ladder card is like glasses business protection. Founded in Milan, Italy Lu Xun ladder card is now the world's largest retail network with one of the glasses brand, located in 130 countries and regions. Is also the world's largest sunglasses company, the market share of 80%. Under its banner, Acting create nearly 40 brands of eyewear product line, it is Tiffany preferred transition partner.

Tiffany and the world's largest glasses maker Lu Xun ladder card renewal contract
Recently, Tiffany announced with the world's largest glasses maker Lu Xun ladder card renewal contract statement. The statement said the cooperation period will continue until 2027, representing Lu Xun ladder card will continue to contract the development of new products Tiffany glasses, manufacturing and some retail operations. In addition, Tiffany is just beginning to expand the non-jewelery business transformation period, Lu Xun ladder card will also provide help.
Tiffany said the art director Reed Krakoff will continue to be responsible for Tiffany glasses product development. The most important strategy for the next step is to develop innovative optical eyeglasses and sunglasses with the help of Lu Xun Tacca to solidify the sound operation of Tiffany's broad product portfolio. Krakoff left Tiffany in July 2016 after leaving to be Coach's creative director in 2013 and is responsible for product design for accessories, homeware and gifts. Last month, his first eyewear line, "Avant Premier," was previewed on a small scale at the Tiffany flagship store on Fifth Avenue in New York and is expected to be on sale next May.
About the renewal with Lu Xun ladder card, Jean-Marc Bellaiche, senior vice president of Tiffany Group, said that the glasses products are now Tiffany's key products, and Lu Xun ladder cards can give them more creative designs. Leonardo Del Vecchio, president of Lu Xun ladder card, said that from the beginning of 10 years ago the two groups have established a cooperative relationship, the next step will be to develop more high-end, extravagant glasses products.
2017 is a turbulent year for Tiffany. Frederic Cumenal, the then chief executive, was evacuated due to poor performance and replaced by Alessandro Bogliolo, former Bulgari executive. High-ranking substitutions to internal instability, and later Qatar suddenly sell off its 1/4 of the equity and let the outside world on Tiffany's capital market image in doubt.
Although the entire jewelery industry is in turmoil over the past two years, according to consulting firm Euromonitor International, Tiffany estimates that the 2016 $ 60 billion jewelry market has shrunk by 6.3% and the downward trend will continue into 2022. In-store sales were down 2% in the second quarter of this year, although store sales rose only 3% from the same period in the third quarter, but store sales remained flat only from last year. Even the new product did not cause too much waves, according to the "Wall Street Journal" data show that in 2016 Tiffany's new jewelry sales less than 10%, and even the first luxury watch series CT60 also accounted for only 1% of sales, . E-commerce channel sales are also more sluggish, accounting for only about 6% of total revenue. Although the third quarter opened seven stores, but also closed the original five stores.
In the face of recession in the jewelry market, Tiffany also introduced many new products. For example, in July with Coty Group, launched the first perfume in 15 years. Caroline Naggier, vice president of Tiffany, said that the brand always insists on the positioning of fine jewelry, the main reason for the introduction of perfume is to expand the size of consumers. Taking advantage of year-end holiday, Tiffany also introduced a new daily necessities series "Everyday Objects", this series has aroused heated discussion among consumers. In addition to silver paper cups, bone china paper cups, silver yarn balls and sterling silver new jewelry boxes sold in China, there are 69 products including household products, recreational toys and office supplies. Mostly made of sterling silver, a few have gold and rose gold versions. The prices of these products maintain the level of luxury, and some even reached tens of thousands of dollars. Regardless of whether it can sell well, Tiffany harvested the topic of these products on the heat, the image in the consumer's mind has been consolidated a lot.
In addition, Tiffany also tried some new marketing tools. In an effort to appeal to millennial consumers, Tiffany is aggressively developing low- to mid-end jewelry lines and in December opened its Blue Box Cafe in the flagship store on Fifth Avenue for brunch and afternoon tea. These pleasing young people's move to Tiffany a good quarter of the performance of the third quarter of this year, sales rose 3% to 976 million.

For the transitional Tiffany, the eyewear market worth up to 90 billion US dollars is an important business growth point, high profit margins and loved by young people. For many luxury brands, Lu Xun ladder card is like glasses business protection. Founded in Milan, Italy Lu Xun ladder card is now the world's largest retail network with one of the glasses brand, located in 130 countries and regions. Is also the world's largest sunglasses company, the market share of 80%. Under its banner, Acting create nearly 40 brands of eyewear product line, it is Tiffany preferred transition partner.

22 декабря 2017 14:33

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