Tiffany Co Case Study - 1163 Words

Tiffany Case Study Introduction Tiffany was founded in September 18, 1837 and for about 170 years, the brand has been successfully opening several stores and establishing the brand as the top place to buy fine jewelry of high quality. The brand has been dedicated to provide their customers with original designs as well as the ultimate in-store experience. They know that their customers expect nothing less than top quality in jewelry and services and Tiffany’s has done just that for the past fifty-three years when Charles Lewis bought the company and named it as Tiffany Company. The company mission and values evolves more than creating fine, high quality jewelry, in fact the company believes that their products are†¦show more content†¦Or does it have a duty to grow faster? Why? I don’t think that Tiffany Co. need and should change its strategy as long as it sustains growth. A constant and sustained growth will make sure that the company continues on being leader in the jewelry business. Should Tiffany open new stores faster? Why? Tiffany’s major preoccupation has to do with producing high quality products and not with the number of stores opened in time. One example of this thought can be taken from the case: preferred to staff a new store with 50% current employees and 50% experienced local salespeople from fine jewelry store in the new area (Tiffany and Company, page 4). So, no Tiffany should not open new stores faster, and we can prove by computing the annual increase in the number of stores opened in the U.S and other countries. Annual increase = Number of stores in the Present year minus Number of stores in the previous year. Example: Annual increase in stores for 2001 = 44 minus 42 equals 2 By observing the table below, we can that from 2000 to 2006 the company has opened more stores in the U.S than in any other country in the world. |Table 1. Growth of Tiffany Retail Stores, Concessions, and Boutiques | |Year | |Earnings |2007Show MoreRelatedTiffany Case Study : Tiffany And Co Essay1299 Words   |  6 PagesIn July 1993, Tiffany 7 Company settled a new retail agreement with its Japanese distributor, Mitsukoshi Ltd. Under new agreement, Tiffany Co now became responsible for business operations in Japan and managing millions of dollars in inventory. Previously, Tiffany Co sold its inventory to independent distributors, like Mitsukoshi, on a wholesale basis. Then, Mitsukoshi would sell the same inventory at retail price in the Japanese market. Since Tiffany’s revenue was realized in dollars, exchangeRead MoreCase Study : Tiffany And Co1650 Words   |  7 PagesExecutive Summary Tiffany and Co. (Tiffany) is a jewelry company founded in New York City in the 1800s. Over the past two hundred years, this company has grown from a small stationary goods store to a multinational corporation with over $4.031 billion in sales. 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