Tiffany & Co Strategic Audit
MSA University
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Strategic Audit
Tiffany & co
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Reema youssef
Supervisor: Dr. Ghada Aly Dr. Heba Adel
Current Situational Analysis:
1. History:
Tiffany & Co. has long been renowned for its luxury goods, especially jewelry, and has sought to market itself as an arbiter of taste and style. Tiffany's designs, manufactures, and sells jewelry, watches, and crystal glassware. It also sells other timepieces, sterling silverware, china, stationery, writing instruments, fragrances, leather goods, scarves, and ties. Many of these products are sold under the Tiffany name, at Tiffany stores throughout the world as well as through direct-mail and corporate merchandising. Goods are also sold wholesale to third-party distributors. Jewelry accounted for two-thirds of Tiffany's sales volume in fiscal year 1994.
In the year 1837, founder Charles Lewis Tiffany and John F. Young opened Tiffany & Young (now known as Tiffany & Co), with $1,000 borrowed from Tiffany's father. They started at a broadway opposite Manhattan’s City Hall Park. They start selling stationery and a variety of "fancy goods," including costume jewelry. Unlike other stores of the time, Tiffany featured plainly marked prices that were strictly adhered to, sparing the customer the usual practice of haggling with the proprietor. This made Tiffany & Co branding as a prestige product in the market. Tiffany also departed from the norm by insisting on cash payment rather than extending credit or accepting barter.
In 1841 Tiffany and Young took on another partner, J. L. Ellis, and the store became Tiffany, Young & Ellis. (Now known as Tiffany & Co) By 1845 the store was successful enough to discontinue paste and begin selling real jewelry, as well as the city's most complete line of stationery. Silverware was added in 1847. In addition to these main items, Tiffany's also start selling watches and
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Strategic Audit
Tiffany & co
[pic]
Reema youssef
Supervisor: Dr. Ghada Aly Dr. Heba Adel
Current Situational Analysis:
1. History:
Tiffany & Co. has long been renowned for its luxury goods, especially jewelry, and has sought to market itself as an arbiter of taste and style. Tiffany's designs, manufactures, and sells jewelry, watches, and crystal glassware. It also sells other timepieces, sterling silverware, china, stationery, writing instruments, fragrances, leather goods, scarves, and ties. Many of these products are sold under the Tiffany name, at Tiffany stores throughout the world as well as through direct-mail and corporate merchandising. Goods are also sold wholesale to third-party distributors. Jewelry accounted for two-thirds of Tiffany's sales volume in fiscal year 1994.
In the year 1837, founder Charles Lewis Tiffany and John F. Young opened Tiffany & Young (now known as Tiffany & Co), with $1,000 borrowed from Tiffany's father. They started at a broadway opposite Manhattan’s City Hall Park. They start selling stationery and a variety of "fancy goods," including costume jewelry. Unlike other stores of the time, Tiffany featured plainly marked prices that were strictly adhered to, sparing the customer the usual practice of haggling with the proprietor. This made Tiffany & Co branding as a prestige product in the market. Tiffany also departed from the norm by insisting on cash payment rather than extending credit or accepting barter.
In 1841 Tiffany and Young took on another partner, J. L. Ellis, and the store became Tiffany, Young & Ellis. (Now known as Tiffany & Co) By 1845 the store was successful enough to discontinue paste and begin selling real jewelry, as well as the city's most complete line of stationery. Silverware was added in 1847. In addition to these main items, Tiffany's also start selling watches and