Jewelry sector is the largest in the luxury goods industry with global retail sales amounting to $150 billion.
US.representing the biggest market of $ 43 billion.
Within the luxury industry, the following jewelers are the major players:
Tiffany, Cartier, under parent company Richemont, Bvlgari (can be pronounced Bulgari).
Both brands started with producing Jewelry, and the products are diversified. Tiffany puts its major focus on Jewelry and introduced its products concentratively. Bvlgari introduced its products in a more constant way, and plans to expand to non-Jewelry sectors.
Both brands have strong control of their distribution channels. Tiffany has only tiny of wholesales and tries to expand direct marketing. Bvlgari uses franchisees and intends to open shops in tourist places.
Both brands present on almost the same world market. Tiffany puts more efforts on the US and Japanese mkts and its image is stronger there. Bvlgari focus more on the European mkt, and more geographically diversified.
Recommendations:
Maintain market share in the US and Japan, however relocate operation risks in terms of store location
International presence, especially retail identity in emerging market.
Keep develop the opportunity and revenue generated by direct market.
Maintain the current product lines, however more research has to be done to truly understand its affluent consumers and to quantify their perceptions of the Tiffany brand and products.
[...] Extension Tiffany's Strategy in Distribution & Manufacturing Comparison between Tiffany VS Bvlgari &Recommendation Jewelry Industry Jewelry sector is the largest in the luxury goods industry with global retail sales amounting to $150 billion US.representing the biggest market of $ 43 billion. Within the luxury industry, the following jewelers are the major players: History 1837 - Charles Lewis Tiffany and John Young establish Tiffany & Young - Selling stationery and costume jewelry - The Tiffany blue box is introduced 1845 - Selling real jewelry and published its first mail-order catalog - Charles Tiffany fully control the company, renamed “Tiffany & Late 1940s - Introduced silverware, timepieces, perfumes, and other luxury items 1955 - Tiffany was sold to Hoving Corporation which expanded Tiffany & Co. [...]
[...] Why not licensee but supplier? The features of jewelry luxury, reliance on precious metal and stone, less importance of fashionable items compared to other luxury sectors, less urgency for local know-how, capital abundance through stock market. Diamond Sourcing De Beers and LVMH The key market for De Beers is rough diamonds. A market that was valued at $ 8.1 billion in 2002. In the same year the DTC generated turnover of $ 5.15 billion; a market share of 63%. On the supply side the company now controls around 50% of production. [...]
[...] It confers status on both the person who gives it and the person who receives it Comparison of Brand Extensions Comparison of Distribution Strategies Comparison of International Presences Compare Sales among Brands Year 2004 Tiffany's Positioning Tiffany SWOT analysis Bvlgari SWOT Analysis Recommendations: Maintain market share in the US and Japan, however relocate operation risks in terms of store location International presence, especially retail identity in emerging market Keep develop the opportunity and revenue generated by direct market Maintain the current product lines, however more research has to be done to truly understand its affluent consumers and to quantify their perceptions of the Tiffany brand and products Recommendations: Progressive vertical integration is a wise [...]
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