Swot Analysis Of Tiffany & Co
Bahaa Takieddine
1) Vision: The Company's key growth strategies are: to selectively expand its channels of distribution in important markets around the world without compromising the long-term value of the TIFFANY & CO. trademark; to increase sales in existing stores by developing new products; to increase its control over product supply and achieve improved profit margins through direct diamond sourcing and internal jewelry manufacturing; to enhance customer awareness through marketing and public relations programs; and to provide customer service that ensures a superior shopping experience.
Effective Elements: Feasible, Makes good business sense, flexible, focused
Shortcomings: Not memorable, not graphic, not forward looking
• The vision
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5-Corporate responsibility presented toward environment and conflict free countries where it established connection with its suppliers and it can trace each products origin and form trust for customers knowing their seller. 1-Dependency on natural resources (Diamond, Gem Stone) which may be affected by supplier’s exploration and scarcity of the resource at the end of the day.
2- Tiffany is said to be for luxury products however still some products range between 250$ and above which may cause rich customers to doubt its brand image of serving them
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People would purchase less of Jewelry since it’s not a need.
2-The increase in rental rates in US, since most of Tiffany & Co retail stores are found in highly expensive and demanded streets may cause increase in cost
3-The jewelry counterfeit (Figure below) which affects the image and revenue stream of Tiffany & Co vs online retailers or sellers of these fake jewelry (Ebay case), however Tiffany & Co is always warning about it.
4-In the long term, there will be shortages of diamonds so people will start relying on synthetic diamonds and prices would increase so Tiffany & Co will be facing profit margin problem
5- forward integration of suppliers such as Dee Beers and many other players in the diamond industry where they would make it a saturated industry especially in US.
Tangible Assets Intangible Assets
Stores located at high luxury streets such as New York, Las Angeles which targets high income households
The famous designers that have worked in Tiffany & Co such
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