Contents

• Executive summary
• Tiffany & co – Corporate information, Financial information, Company overview, Product mix, Distribution channels
• Market – Tiffany in jewellery market
• Current strategies
• Audit – Boston consulting group matrix, Internal factor evaluation matrix, External factor evaluation matrix, Matching key factors to formulate alternative strategies, Competitive profile matrix
• Implementation strategy
• Bibliography

Description

Tiffany & Co. is one of the most popular jewellery retailers. It operates mainly in the US and the Japan. In the fiscal year January 2006 the company had sales of 2,648.3 million. The company possesses the world’s largest yellow diamond crystal of 287.42 carats. Tiffany is expanded widely with 58 retail stores in the US and 95 retail stores outside the US. It also has a wide range of products which consists of diamonds, timepieces, fragrances, sterling silvers, crystals and accessories apart from jewellery. Jewellery alone contributes 80% towards the company’s revenue. The company’s existing strategies are to open new stores, to have low price products, focus on the China market and are targeting women buyers. An audit of the internal and external factors has revealed that Tiffany’s internal strength is moderate and its response to the opportunities and threats is also moderate. Tiffany is relatively stronger when compared to its competitors like Zale and Bulgari. In the current scenario, five different strategies have been recommended for Tiffany. They are (1) customize jewellery, (2) focus on the Indian market, (3) effectively mange demand and supply of its products, (4) create awareness about “No Dirty Gold” and “Conflict Free Diamond” and (5) concentrate on the watch market.