Tiffany repositions his brand and conquers the 'millenials' with this strategy

Tiffany is repositioning its brand as a company for young people...And he is achieving it.

With the help of campaigns with inclusive messages and young celebrities, a new coffee ready for Instagram and tributes to its glamorous legacy, the jewelry promoted its sales in the first quarter of this year.

Lee: Tiffany's profits are in the clouds thanks to their sales.

The company is adopting a trend, said Thomai Serdari, a luxury advertising and marketing strateg.

Andrea Davey, Senior Vice President of Tiffany Global Marketing, said the idea is to eliminate the formality of luxury.

Before his approach change, Tiffany was in trouble.His CEO resigned in February 2017 after two years of decreasing sales.

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The new management team, led by the Alessandro Bogliolo CEO and the first art director of Tiffany, Reed Krakoff, has focused on refreshing the image of the brand.And while attracting millennials is not the only goal, it is an important goal.

Lee: Tiffany wants to conquer the ‘millennials’ with a can of $ 1,000.

Tiffany reposiciona su marca y conquista a los 'millenials' con esta estrategia

"If you do not pick up the millennial consumer, your business model will be at an extreme risk in the future," said Cowen Oliver Chen analyst.

If Tiffany conquers young customers, they will keep the brand in mind when they buy for reaching goals later in life.In addition, new campaigns can point to parents and grandparents that millennials could want a gift from Tiffany.

The new Tiffany campaign, "Believe in Dreams".

Not only is it about choosing the right stars, according to Jonah Berger, Wharton's associated advertising professor.Tiffany, he said, has done "a good job in ... talking to millennials in a language and a way in which they are interested".

In autumn, Tiffany launched its "Believe In Love" campaign (believes in love), highlighting the company's commitment and marriage rings and showing a more modern approach to romance.

The campaign "honors commitment in all its forms and shows a diversity of real couples", said the company in a statement.

Ads have interracial and same -sex couples.On the website of the Campaign Author David Sedaris appear on his partner, Hugh, and of the Nigerian writer Chimamanda Ngozi Adichie, who appeared in the song Flawless de Beyonce.

The message is working: Commitment Rings Sales increased and Tiffany is successfully attracting young buyers to their flagship store in New York City with their Blue Box Café.

"On any weekend we have up to 4,500 tables on our waiting list," said Davey.

Coffee is on a newly renewed floor from the Fifth Avenue store.Customers can review the new space and recent collections, and can pass the voice, as many do, through social networks.

All Tiffany's efforts, from their campaigns to their coffee, are inspired by their luxurious roots.By remains faithful to his tradition, Tiffany is making sure not to lose his loyal clients.

Tiffany "wants to stay as a distinctive luxury and high -end brand," said Neil Saunders, general director of Global Data Retail."They have modernized things, but they have not been too radical about it".

While jewelry offers some lower cost products, it has not significantly decreased its prices.The new Tiffany collection, Paper Flowers, goes from $ 2500 to $ 75,000 per piece.

"They want to give the possibility to buy the brand at some level," said Saunders, "but they don't want to lower the brand".