Tiffany & Company | Company Profile, Marketing Contacts, Media Spend, Brands
Headquartered in New York, NY, Tiffany & Company operates jewelry and specialty retail stores in the Americas, Asia-Pacific and Europe and sells direct through Internet, catalog and business gift operations. In addition to jewelry, Tiffany's also offers a collection of fine china, crystal, stationary, fragrances & silverware.
|Main Telephone||(212) 755-8000|
|Main Fax||(212) 230-6734|
Tiffany & Company ContactsContacts (5/32)
|Michael K.||Interim Chief Executive Officer||NY|
Sample of Associated Brands
|Caroline N.||Chief Brand Officer||NY|
|Beth C.||Executive Vice President||NY|
|Jon K.||Executive Vice President||NY|
|Victoria B.||Senior Vice President, Global Human Resources||NY|
|Tiffany & Company||********|
|**** *******||***||media buying & planning||2014||present|
|**** ************||***||media buying & planning||2014||present|
|****** *******||***||media buying & planning||2014||present|
|******* & *******||****** & ******||AOR - creative||2014||present|
|******* & *******||***||media buying & planning||2014||present|
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Digital, Print Opps: Tiffany's focusing messaging on engagement, wedding offerings in H2
Subject: Online, digital, social media, mobile, sponsorship, events, experiential, luxury
Company: Winmo), New York-based luxury jewelry retailer
Update (5/25): We recently told you about Tiffany’s plans to combat a “disappointing” 2015 (more below), and now, in the Q1 earnings call, VP of investor relations Mark Aaron stated that the company is focusing marketing communications on the “soft” engagement jewelry and wedding band category. The purpose of the focus is to directly convey the competitive strength of Tiffany’s engagement assortment and celebrate the 130th anniversary of the famed Tiffany setting. Messaging will focus on the “exceptional quality and rarity” of Tiffany’s diamonds, which Aaron believes is a “compelling” message to couples who plan to marry. Therefore, wedding-endemic sellers should definitely be reaching out for ad revenue here. Digital and print sellers will certainly have the upper hand here, as Tiffany’s does not currently run TV ads.
Agency readers should read more below about Tiffany’s past assertion that it will never be “state of the art” in digital and reach out with strategies to move the luxury jewelry retailer closer to this goal line (or maybe drag them across it).
Below was originally published on 3/28:
Opportunity: Tiffany's VP of investor relations Mark Aaron kicked off the Q4 earnings call by saying: “We can begin with a candid assessment that overall financial results for 2015 were disappointing.” Oof. He did, however, say the company was pleased with continued efforts around the optimization of the store base and web presence and new product designs. Last month, Tiffany's launched a new marketing campaign intended to address the softness it is experiencing in the engagement jewelry category. Tiffany's expects SG&A expenses to increase for FY 2016, due in part to increased marketing expenses.
CEO Frederic Cumenal said he believes that Tiffany's marketing – through print, digital media and catalogues – is “more effectively communicating Tiffany as the global luxury brand with appeal to both the gift-giver and the self-purchaser.” Most of Tiffany's digital buys are already placed with upscale consumer focused Forbes, Conde Nast and New York Times and the company's objective moving into fiscal 2016 (which began Feb. 1) is to “reinforce Tiffany's position amongst the world's most important luxury brands.” However, last year some of advertising's focal point was centered on silver jewelry sales less than $500 – what Tiffany's calls “little luxuries” (more here). Given the size (and limited buying power) of the millennial generation, this will likely continue to be a priority.
Sellers – also note that 2016 is the 130th anniversary of the introduction of the six-prong “CT60 watch collection and more (detailed below).
Cumenal stated that while Tiffany is spending on digital, it will never be “state of the art” in digital. Well, there's no time like the present to help Tiffany prove themselves wrong, digital agencies. Cumenal pointed out that Tiffany's will deploy new digital strategies; however, so sellers, you should be reaching out to get these dollars. Tiffany's is also concerned about finding the right balance between allowing social media/word-of-mouth to “do part of the job” but also being able to control the key messaging. To this end, Tiffany's has been “ramping up” CRM activation in order to better engage the customer.
Additional Information (Spend Data Updated 5/25)
New Product Launch: The company will accelerate introduction of new products at or below the $500 price point in 2016. This includes expanding the Infinity collections, as well as new products.
Tiffany's is also looking to establish the Tiffany T “as an icon” and will continue to leverage on newness to engage the customer even more.
Sustained Struggles: Sales were challenged, in part, by lower tourist spending in the US, according to both Aaron and CFO Ralph Nicoletti (interesting target demo). Cumenal added that US behavior has been “quite fickle” and “we can put that partly on the economic uncertainty” and on a “particularly tensed electoral campaign in a year of presidential elections.”
Media Spend: According to Kantar Media, Tiffany spent $30.5 million on measured media in 2015. Almost all of this – $22.9 million – was allocated to print ads. The remainder went to digital display ($3.5 million) and search ($2.6 million) ads, and some OOH ($1.5 million).
Digital Breakdown: Moat reports that Tiffany ran 224 display ads on 466 publishers in 2015 (6% mobile). Top ad destinations included instyle.com, peoplestylewatch.com, elle.com, architecturaldigest.com and allure.com (87% placed site direct versus programmatic). The company also ran 587 high impact and 12 video ads last year – on Brides, WWD, New York Magazine and Town & Country, to name a few. This is relatively flat compared to Tiffany's 2014 display presence.
So far in 2016, 198 display ads have been run on 233 publishers (such as instyle.com, nymag.com and go.com). Tiffany's has also already run 241 high impact ads and 12 video ads. Most ads this year have been run on news and style & fashion sites, which is in-line with last year's buys.
727 Fifth Ave.
New York, NY 10022
Chief Marketing Officer
(212) 230-5328 (direct)
Vice President, Marketing – North America
(212) 755-6549 (direct)