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  • Case Study Tiffany & Co.

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    Tiffany & Co. is a luxury jeweler founded in 1837 known for its distinctive blue boxes. As Tiffany plans to enter the Indian jewelry market, it faces risks from existing competitors. The best alternative is to thoroughly research competitors' weaknesses, strengths, and marketing strategies to understand local demands and develop a competitive strategy. Entering India represents an opportunity for Tiffany's brand given India's growing passion for jewelry, though risks remain from competitors and local tastes. Understanding competitors will help minimize risks and maximize sales potential in India.

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    Tiffany & Co. is a luxury jeweler founded in 1837 known for its distinctive blue boxes. As Tiffany plans to enter the Indian jewelry market, it faces risks from existing competitors. The best alternative is to thoroughly research competitors' weaknesses, strengths, and marketing strategies to understand local demands and develop a competitive strategy. Entering India represents an opportunity for Tiffany's brand given India's growing passion for jewelry, though risks remain from competitors and local tastes. Understanding competitors will help minimize risks and maximize sales potential in India.

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    2K views2 pages

    Case Study Tiffany & Co.

    Uploaded by

    Turling
    Tiffany & Co. is a luxury jeweler founded in 1837 known for its distinctive blue boxes. As Tiffany plans to enter the Indian jewelry market, it faces risks from existing competitors. The best alternative is to thoroughly research competitors' weaknesses, strengths, and marketing strategies to understand local demands and develop a competitive strategy. Entering India represents an opportunity for Tiffany's brand given India's growing passion for jewelry, though risks remain from competitors and local tastes. Understanding competitors will help minimize risks and maximize sales potential in India.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    CASE STUDY

    Provide The Following:


    I. Facts of the case (at least 10)

     The company’s principal subsidiary, Tiffany and Company, is a jeweler and specialty
    retailer, whose merchandise offerings include an extensive selection of jewelry, as well
    as timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories.
     Tiffany was founded on September 18, 1837 when Charles Lewis Tiffany opened a
    stationery and fancy goods emporium at 259 Broadway in New York City.
     The Tiffany blue box was an American icon of style and sophistication.
     The company’s channels of distribution are through: U.S. retail (50% of fiscal 2006 sales)
    consists of retail sales transacted in Tiffany & Co. stores in the United States and sales of
    Tiffany & Co. products through business to business direct selling operations in the
    United States.
     Tiffany has more than 8,000 employees around the world.
     Tiffany & Co. announced plans to open a smaller-format store in Glendale, California, in
    mid-October 2008.
     Tiffany plans to enter into Indian market because of the ideal growth prospects.
     The Indian jewelry sector, one of strongest retail segments of India, has an estimated
    total domestic market size of Rs. 52,000 crore.
     When people hear about quality jewelry it is most likely associated with Tiffany & Co.
     The Indian jewelry sector’s current global standing is estimated at over US $90 billion.

    II. Statement of the Problem (at least 1)

     What are the major risk that Tiffany & Co. may encounter as they enter into Indian
    jewelry market?

    III. Alternative Solutions for the Statement of the Problem (at least 3)

     A keen study of the current market demand in the jewelry sector in India.
     A wide knowledge of the existing competitors, their weaknesses and strengths, as well
    as their marketing strategies to the local market.
     Thorough research of the existing demands of local consumers and their purchasing
    capacity.
    IV. Selecting the Best Alternative Solutions (Choose only 1 Alternative Solution and explain
    why)
    The best alternative solution to the problem is having a wide knowledge of the existing
    competitors, their weaknesses and strengths, as well as their marketing strategies to the local
    market. Knowing your competitors would give Tiffany & Co. a wide range of ideas on how to
    strategically compete with the existing market in India. Knowing the competitors can also
    provide a valid and tangible information on the demands of the current local jewelry market.
    This in turn would provide a lower risk of investment and profit loss, a high possibility of
    increase in sales and manageable product outputs.

    V. Conclusion
    Tiffany & Co.’s expansion in India represents an important milestone for its iconic brand.
    As a global luxury jeweler with stores in many of the parts of the world, Tiffany’s emergence in
    India presents an exceptional opportunity, particularly given India’s growing passion for
    jewelry. It may have some major risk because of the existing competitors and localized taste of
    consumers for jewelry styles, but never the less knowing that Tiffany & Co. made its way as one
    of the leading Jeweler in world, its icon will speak for itself as they venture to a new consumer
    market.

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