Since 1837, Tiffany & Co. has been one of the most famous jewelers in the world. From their trademark Tiffany blue to the white ribbons that adorn their gift boxes, Tiffany’s has established themselves as not only a leader in the fine jewelry market but also as an example of a company that is able to increase the value of their products through effective marketing and attention to detail.
Evolution of Tiffany & Co.
Starting in 1837, the color Tiffany Blue was born. Little did Charles Tiffany know that Tiffany Blue would eventual grow to become an iconic color and become such a big part of fashion culture. Looking at the evolution of Tiffany & Co., we can see its evolution from being an exclusive high end jeweler to an affordable yet classy destination for anyone looking for that special piece.
Living in Los Angeles, one of the spots that Los Angeles is known for is Rodeo Drive. From Gucci and Prada to Chanel and Burberry, Tiffany & Co. is one of the most famous spots of Rodeo. When going to Rodeo you understand what people mean when they say that Rodeo is in its own little world. Expensive cars to display windows that could rival a decorative museum exhibit, Rodeo is a known for its high end stores for those looking for the high end lifestyle. Still, while Rodeo may be assumed to be for those with high disposable income, it is not necessarily true. Tiffany & Co. has been able to evolve itself from being for the rich and famous, to anyone who wants own a timeless piece of jewelry.
From the young to the old, Tiffany & Co. has been able to accomplish what other companies can only wish for. Tiffany’s has been able to attract not only one target market segment but rather target nearly all market segments. No matter what the age, Tiffany’s has something for everyone. Now the case could be made that while this may apply to only females and that it doesn’t really apply to males. To this I would counter that Tiffany’s offers men’s jewelry as well. Whether you are looking for a money clip to a stylish watch, Tiffany’s appeals to both sexes. Through effective marketing strategies, Tiffany appeals to both sexes through their catalogue and through the universal appeal of their website. The Tiffany’s website is an essential part of the Tiffany’s marketing campaign as any customer can easily find the approriate gift by the multiple search categories and specifics that a customer can provide.
The first time I bought a Tiffany’s piece was during my senior year of high school for my girlfriend. The one thing that I remember distinctly is that Tiffany’s is not only selling you jewelry, but it is selling you an experience. This experience is what makes people want to buy Tiffany’s. By buying a Tiffany’s piece you are buying piece of culture and art. The service marketing side of Tiffany & Co. can only be described as striving to near perfection.
I have found that not only are Tiffany pieces a great gift, but they are also unique in an economic sense. Like rare baseball cards and classic cars, some Tiffany pieces actually gain in value. Taking a look at the several Tiffany pieces that my girlfriend has, most if not all are sold at a higher price than they were previously purchased at. This can be attributed to many things. Among them are the limited amount made per piece as well as certain pieces being made for certain occasions. By buying something from Tiffany & Co. you are also buying into an investment.
Audrey Hepburn from Breakfast at Tiffany’s said it best when she was asked what she does when she gets afraid of something.
Well, when I get it, the only thing that does any good is to jump in a cab and go to Tiffany’s. Calms me down right away. The quietness and the proud look of it; nothing very bad could happen to you there. If I could find a real-life place that’d make me feel like Tiffany’s, then – then I’d buy some furniture and give the cat a name!
Whether you are looking to invest a relationship, a future, or just looking for jewelry, buying a Tiffany & Co. piece means you investing a piece of culture.
