Strategic Review of Tiffany and Co

Executive summary

The House of Design of America and the premier jewellers of the world, as Tiffany and Co. is currently known, was founded in 1837 by John B. Young and Charles Lewis Tiffany. New York City has since remained as its headquarters, and deals in sale of jewels sterling silver, crystal, fragrances, stationery as well as personal accessories and leather goods. It has remained top in the sale of luxury goods, specifically the diamond jewellery, which has made it remain popular. The company boasts of having gifted craftspeople, reliable customer services and popular designers. Globally, the company has not less than 150 boutiques and stores with about 8000 employees. Besides the company’s already outstanding standards and quality of goods, the company is always geared towards introduction of a series of very new designs that are exciting to them keep the elegant standards of their design. Its majority of manufacturing is carried out in the company’s Rhode Island and New York facilities, with the bulk of the diamond centres situated abroad. These include the processing and preparation facility based Antwerp, Belgium and the centres for polishing diamond in Canada, South Africa, Vietnam and Belgium. The company has adopted a Specialty Retail Division system which facilitates opportunities of growth on diverse geographical regions (Tiffany & Co. History. 2010 p.23).

Introduction

The company has remained atop the other companies for a relatively long time. During the Paris Exposition Universelle, held in 1867, the company won the magnificent award for silver craftsmanship, which formed the very first achievement for the design house of America. The company became the very first design school in America, where the students were taught the art of observing and sketching nature. Charles Tiffany died in the dawn of 1902, leaving the company to his immediate son Louis Comfort Tiffany as the first design...