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Tiffany's new series will be on sale at Tmall


Jewelry brand Tiffany announced that it will open a flash shop at the Luxury Pavilion of Tmall's luxury platform, selling its latest collection of jewellery "Paper Flowers" in New York in May. This is the first time the brand has sold new products through online platforms in the global market. According to Tmall's statement, this online sale will start pre-sale on August 16 and will be two weeks ahead of the offline store.
For Tmall, this means that it is collaborating with flash stores, and the strategy of connecting with luxury brands continues. Prior to this, Loewe, Marni, and Valentino had already sold some limited series in the form of TmallSpace, a Tmall luxury flash shop.
For Tiffany, this is a practice for the brand to fight for the millennial strategy in the Chinese market. In order to attract millennials and let Tiffany always occupy the hearts of young consumers, Tiffany's new CEO, Alessandro Bogliolo, said in a high profile shortly after taking office that Tiffany will enlarge brand innovation information, update products, improve in-store display and provide omni-channel customers in the future. Experience, foster more effective business models, motivate and coordinate internal organizations.
After that, Tiffany strengthened the development of non-jewelry products: after a long time, the perfume was released, and the contract with the world's largest eyewear manufacturer Lu Xun Tica, continued to push the topic of the "high price" daily necessities series. On the other hand, Tiffany's new creative director, former Coach president and creative director Reed Krakoff, unveiled its first jewellery collection at Tiffany, the flower rhyme series that was launched at Tmall, which officially opened a new phase of Tiffany jewelry.
It is worth mentioning that the Hua Yun series consumer groups cover a wide range, ranging from 2,500 US dollars to 790,000 US dollars. Tiffany will try to sell 8 products through the Tmall Flash Store, one of which is a platinum-encrusted necklace with a price of 670,000 yuan. The money chain is only stocked in the Chinese market.
In order to further speed up the development of new products, Tiffany also built a new factory. At the same time, Tiffany launched a series of marketing attempts to cater to the attributes of social networking, such as the Tiffany Blue Restaurant, and launched a new face spokesperson for the younger generation around the world. Recently, it has also tested a new retail concept “styling studio” in a new store in London, offering customers the opportunity to personalize their products on-site.
However, in addition to attracting young people, Tiffany quickly made this series of adjustments at this point in time because reforms are imminent.
Beginning in 2016, Tiffany began to face a decline in performance, with its $60 billion valuation market shrinking by 6.3%. And analysts also expect such a decline to continue until 2022. Accompanied by the fact that the Qatar Fund sold 25% of the company's equity triggered a negative association in the capital market, and Tiffany ushered in a year of turmoil at the company level: former Bulgari executive Alessandro Bogliolo became the new CEO; executives The team is old, new, and big.
Fortunately, the new executive team has been stable Soufeel Jewelry Coupon and is actively promoting brand innovation. According to the company’s first quarter earnings report for the 2018 fiscal year announced in May, these strategies are beginning to bear fruit.
In the three months ended April 30, 2018, Tiffany's net sales increased 15% year-on-year to US$10, higher than analysts' expectations, and net profit increased by 53% year-on-year. Affected by this, Tiffany's share price rose 17% to 119.60 US dollars that day, the highest since 2001.
It is worth mentioning that in the quarterly report, the data contributed by the Asia-Pacific market except Japan is still the most prominent in the regional market – sales increased 28% year-on-year to US$329 million, and same-store sales increased by 14% year-on-year. . Among them, the wholesale channels in Greater China and South Korea were also specifically mentioned due to their outstanding performance. This may also increase confidence in Tiffany's e-commerce test in the Chinese market.
14 августа 2018 12:12


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