Tiffany's beauty by Reed Krakoff
From the book by Truman Capote to the recent acquisition by LVMH, along with the cult film that features the brand, Tiffany & Co. represents the spirit of contemporary luxury
Charles Lewis Tiffany founded his company in New York City back in 1837. And 183 years later, the company is still riding high, having evolved once again thanks to the largest investment ever made by the French LVMH group. In order to purchase the company, LVMH offered up $16.2 billion, $135 dollars per share in cash, or in other words, more than the remaining share of Dior in 2017 and more than three times the investment to acquire Bulgari in 2011. This was an enormous transaction that just goes to show Tiffany & Co.’s ability to stay up with the times and reinvent itself to reach new consumers but without ever losing that allure that Truman Capote described so perfectly in his famous 1958 book “Breakfast at Tiffany’s.” With its Fifth Avenue location, 14,000 employees and more than 300 stores around the world, the company has never stopped looking to the future, as Ceo Alessandro Bogliolo explains, «Tiffany has focused on key strategic priorities in order to favor sustainable growth long term. This transaction, which is taking place at a time of internal transformation for our legendary brand, will bring further support, resources, and a boost for those priorities as we evolve into The Next Generation Luxury Jeweler.
As part of the LVMH group, Tiffany will reach new heights, making the most of its extraordinary internal talent, its unparalleled expertise, and strong cultural values». These aims are based on constant innovation. From the Tiffany setting, the engagement ring par excellence, to the bracelet with a heart from the “Please Return to Tiffany” collection, which is the all-time bestselling jewelry piece, the company has always stood out, interpreting the modern and reaching new generations without ever betraying those that came before. Part of this strategy also included nominating Reed Krakoff chief artistic officer in 2017. The designer, 55, came to the American jeweler after having relaunched the Coach brand, at a time when Krakoff had become a big name in accessories companies with billion-dollar sales. The designer immediately set to work coming up with ideas for the brand known for its light-blue box. «I spent a lot of time in the historical archive, looking through designs and sketches, marketing, ad campaigns, all these different things. I had to absorb all of that and then put it away and more or less look at what I was about to undertake as the next chapter», he says, «Tiffany represents the essence of effortless luxury. It’s the idea of having that American luxury for everyday as opposed to luxury that’s very formal». With this in mind, Krakoff is taking Tiffany into the Instagram era, putting the focus on new home & accessories collections as well as a men’s line, and further promoting existing lines including fragrances, with communications and campaigns featuring celebrities like Elle Fanning, Zoë Kravitz, Xia Wen Ju, Maye Musk. These are all strong women with modern values, and these values can also be seen in the new scent launched last fall. With Tiffany & Love, created along with Coty, the brand is exploring “couples fragrances” for the first time, without bias or prejudice, and actually with a strong desire to celebrate the bond between two people. «As a prestige brand, we have always celebrated the enduring strength of love in all of its forms. Our new Tiffany & Love fragrances reflect modern love and authentic relationships that represent the strength, joy, and promise that we find in each other», says the designer. This is something that speaks to the present day, without discriminating and without compromises, and it is also in line with the introduction of the men’s collection, «Since I’ve been at Tiffany’s, I’ve s wanted to launch a men’s collection. I feel like it is the only American luxury brand that is credible enough to create men’s jewelry. Today’s men spend a lot of time on their appearance, so it seemed like the right idea at the right time. This collection was created to be timeless, relying on our great legacy in craftsmanship, and design with integrity, so we think that it will appeal to a vast audience in all global markets. The design is suited to all types of men seeking a piece that expresses their sensibility and personal style, encouraging individuality and exploration». Perhaps these words - individuality and exploration - are what make Tiffany’s perfect for interpreting a type of concrete luxury that reaches consumers, even the younger generation. «You have to respect history without becoming self-referential. You can’t live in the past. You have to move forward, but when you have something like Tiffany’s in hand, you have to honor its legacy».
As part of the LVMH group, Tiffany will reach new heights, making the most of its extraordinary internal talent, its unparalleled expertise, and strong cultural values». These aims are based on constant innovation. From the Tiffany setting, the engagement ring par excellence, to the bracelet with a heart from the “Please Return to Tiffany” collection, which is the all-time bestselling jewelry piece, the company has always stood out, interpreting the modern and reaching new generations without ever betraying those that came before. Part of this strategy also included nominating Reed Krakoff chief artistic officer in 2017. The designer, 55, came to the American jeweler after having relaunched the Coach brand, at a time when Krakoff had become a big name in accessories companies with billion-dollar sales. The designer immediately set to work coming up with ideas for the brand known for its light-blue box. «I spent a lot of time in the historical archive, looking through designs and sketches, marketing, ad campaigns, all these different things. I had to absorb all of that and then put it away and more or less look at what I was about to undertake as the next chapter», he says, «Tiffany represents the essence of effortless luxury. It’s the idea of having that American luxury for everyday as opposed to luxury that’s very formal». With this in mind, Krakoff is taking Tiffany into the Instagram era, putting the focus on new home & accessories collections as well as a men’s line, and further promoting existing lines including fragrances, with communications and campaigns featuring celebrities like Elle Fanning, Zoë Kravitz, Xia Wen Ju, Maye Musk. These are all strong women with modern values, and these values can also be seen in the new scent launched last fall. With Tiffany & Love, created along with Coty, the brand is exploring “couples fragrances” for the first time, without bias or prejudice, and actually with a strong desire to celebrate the bond between two people. «As a prestige brand, we have always celebrated the enduring strength of love in all of its forms. Our new Tiffany & Love fragrances reflect modern love and authentic relationships that represent the strength, joy, and promise that we find in each other», says the designer. This is something that speaks to the present day, without discriminating and without compromises, and it is also in line with the introduction of the men’s collection, «Since I’ve been at Tiffany’s, I’ve s wanted to launch a men’s collection. I feel like it is the only American luxury brand that is credible enough to create men’s jewelry. Today’s men spend a lot of time on their appearance, so it seemed like the right idea at the right time. This collection was created to be timeless, relying on our great legacy in craftsmanship, and design with integrity, so we think that it will appeal to a vast audience in all global markets. The design is suited to all types of men seeking a piece that expresses their sensibility and personal style, encouraging individuality and exploration». Perhaps these words - individuality and exploration - are what make Tiffany’s perfect for interpreting a type of concrete luxury that reaches consumers, even the younger generation. «You have to respect history without becoming self-referential. You can’t live in the past. You have to move forward, but when you have something like Tiffany’s in hand, you have to honor its legacy».
