Note to all those smaller jewelry companies now selling major luxe bling…Tiffany & Co. has decided to step on your turf too. They are on a mission to establish new,
smaller store format to showcase accessibly priced women’s jewelry.
What better place to test this concept then Wall Street? Tiffany & Co. Collections, a
2,000-square-foot store model opened last week. Perfect for a lunchtime break, don’t you think? The company plans to open 70 of
the shops, which will feature women’s jewelry ranging from slightly
less than $100 to $15,000.
The concept will not include the
engagement rings or high-priced statement jewelry for which Tiffany is
famed. In the past five years, engagement jewelry in the U.S. has grown
at a rate of 20% annually.
stores have] a more modern design that will allow us to showcase
jewelry, so you can interact with it and explore. It’s simply a new way
of looking at Tiffany."
decision by Tiffany to focus on more accessibly priced jewelry is
notable because several jewelry companies are pushing high jewelry and
rare pieces that sell from the hundreds of thousands of dollars to the
millions. Chopard, Graff, De Grisogono, and others all claim
that the consumer demand for these pieces is seemingly unquenchable,
considering supply of the rare gemstones and the labor that goes into
So take that!