Tiffany Will Launch The Strongest Offensive In The Chinese Market.

How to tell good stories is becoming the key to the effective landing of luxury brand in China.

Emotional marketing has always been an important way for luxury brands to carry out brand promotion. However, in recent years, in view of the Chinese market which is different from the European and American markets, the luxury brands begin to seize the attention of young consumers in the more localized emotional attributes.

According to fashion business news, the luxury jewelry and wrist watch brand Tiffany & Co., which has entered China for 18 years, is trying to move Shanghai's "rare house" which has been accumulated for nearly 200 years to China.

From September 23rd to November 10th this year, we will hold the "ingenuity and skill" - Tiffany's 180 years' innovative art and diamond Treasures Exhibition at the Shanghai Fuxing Art Center. We will transport over 350 Tiffany legendary jewellery and treasures from New York headquarters to China to better convey to the Chinese consumers the essence of the brand, seek greater breakthroughs and exert market influence.

The whole exhibition is divided into 6 themes, namely, Blue Is the Color of Dreams, Tiffany's creation world (The World of Tiffany), Tiffany Blue Blue high jewelry (Tiffany), Tiffany's love (Tiffany), Tiffany's breakfast, and Tiffany diamond. It is reported that the exhibition tickets will be on sale in September 2019, and the proceeds will be donated to the Shanghai Fosun foundation and its charity project.

Last Friday, Tiffany CEO Alessandro Bogliolo accepted the exclusive interview with WeChat public number LADYMAX in Hongkong's BHO art gallery on the exhibition and the brand's future development strategy in China.

Alessandro Bogliolo said that as the first large-scale exhibition held by Tiffany since its inception, "experience" will be the core element throughout the exhibition. Earlier analysis pointed out that in Asia, especially in China, exhibitions are still a new way of life. The interactive experience provided by art exhibitions is more attractive to consumers eager to learn more about luxury brands.

According to Alessandro Bogliolo, the Tiffany exhibition, which will be held in September, will create a more immersive experience for consumers through digital interactive devices, and recreate many "first" brands, including the first modern engagement ring Tiffany Setting, the first "Blue Box" and the first "Blue Book".

As the first large-scale exhibition held since Tiffany was founded, "experience" will be the core element throughout the exhibition.

Take Audrey Hepburn's screenplay of Tiffany's breakfast as an example. Visitors can read the notes written by Audrey Hepburn personally through the digital screen, and Tiffany will also play extracts related to the film and behind the scenes video. In the part of "Tiffany Love", visitors can write their own declaration of love by hand, and then make virtual works of art through digital devices and other visitors' Declaration of love.

However, Alessandro Bogliolo believes that the ultimate goal of the exhibition is to enable consumers to better understand and feel the classics and quality of Tiffany brands and products. "To me," keeping the truth "is very important. Behind every Tiffany works, there is a history, not just to create gimmicks.

Looking back at the history of Tiffany, the essence is actually the growth history of a "rare house". The Cabinet of Curiosities originated in the Renaissance in sixteenth Century and was originally built for collection of rare European aristocrats.

In addition to precious jewellery, the rare houses collect objects such as shells, animal and plant specimens, which carry unique memories and stories. Later, they gradually develop into theme collections, and are regarded as the predecessors of modern museums.

In 1845, Charles Lewis Tiffany, which was located in New York, USA, created the prototype of the "rare house" in the luxury field. After the establishment of boutique Tiffany&Co. in 1837, he painted the first national direct mail catalogue Blue Book in 1845.

In 1848, Tiffany officially entered the high-end jewellery market. At that time, the French king Louis Philippe was forced to abdicate, and Charles Lewis Tiffany, who was eager to get a share from the European jewelry brand, bought many precious stones in the Royal royalty of escaping, and rebuilt the precious stones into exquisite jewellery by using the Tiffany original inlay technology, which was included in the Blue Book of the year.

Subsequently, Charles Lewis Tiffany was very enthusiastic about rare gemstones, and began to increase investment and excavation efforts in its mines. In 1876, George Federick Kunzite, a young gemologist, sold its tourmaline to Tiffany.

In 1878, Charles Lewis Tiffany bought the world's largest and best quality 287.42 Carat Yellow Diamond raw stone, and was weighed 128.54 carats after George Federick Kunzite supervised cutting, and was named The Tiffany Dimond. 1 years later, George Fedrick Kunzite, 23 years old, was appointed senior vice president of Tiffany.

In 1880, George Federick Kunzite purchased sapphire, a real estate sapphire, in a mine in Montana, USA, named "Montana sapphire".

In 1902, he discovered a beautiful Purple Pink Gem spodumene in California, USA. It was regarded as the most important achievement in his life. The gem was eventually named "Kunzite" and was also included in Blue Book by Tiffany.

In search of more rare gemstones, George Federick Kunzite began to march to the outside of the United States. In 1910, a pink beryl was found on Madagascar island in Africa. Then Tiffany was named after the faithful coloured gemstone collector JP.Morgan, calling it the "Morgan stone".

In the 60s of last century, a shepherd boy of Tanzanian mania discovered Tanzania accidentally. Tiffany, who was extremely keen on GEM value, quickly absorbed this gem. In the year of discovery, he signed the agreement with the government of Tanzania on the main dealer of blue gem.

In 1968, after careful cutting, grinding, design and mosaic, Tanzania first appeared in Tiffany's Blue Book high jewelry series. Overnight, it won the favor of jewelry designers, jewelers and women consumers seeking novelty, and was called the "stone of the century" in twentieth Century.

In addition, Tiffany is also Turquoise and shafle stone. Slowly, Blue Book became synonymous with the Tiffany high-end jewelry series. The brand collects rare jewels collected around the world every year, presenting them to VIP customers in the form of jewelry such as brooches, rings, earrings and necklaces, and holds a press conference in New York every September. The price of the pieces is between tens and tens of millions of dollars.

Perhaps in order to return to the essence and salute the classics, Tiffany creative director Reed Krakoff designated the theme of the second Blue Book series he was responsible for as "Jewel Box" and presented it in a rare house. Some of the products in the series will follow the exhibition in China in September.

It is noteworthy that Tiffany is not the first luxury jewelry brand to be exhibited in China. In April 30th this year, LVMH's jewelry brand Bvlgari's "SerpentiForm serpent legend" cross-border tour fourth stations landed in Chengdu, displaying more than 180 treasures of the East and West with the image of snake. In May 31st, Cartire and the Imperial Palace jointly hosted the special exhibition of Cartire and the Imperial Palace Museum technology and restoration in Beijing.

There was a lot of attention for the Tiffany's entry. Alessandro Bogliolo has no pressure at all. He stressed that Tiffany not only has 182 years of historical accumulation, far more than other jewelry brands, but also a pronoun of "love" irreplaceable in the minds of consumers. The successful development of other jewellery brands has enhanced Tiffany's confidence in increasing investment in China.

From last year, Tmall launched the new Tiffany Paper Flowers Series in the world, to the "Tiffany Holiday" creative window and the "Tiffany love travel" limited experience exhibition, and then to the first large-scale exhibition in the upcoming brand history. The Tiffany under the leadership of Alessandro Bogliolo paid more and more attention to the Chinese market.

Alessandro Bogliolo worked in Bvlgari and Diesel, and formally joined Tiffany in October 2017. 1 months later, the brand opened the world's first "Blue Box Cafe" in Fifth Avenue flagship store in New York, making "breakfast of Tiffany" a reality. Daily attendance became a hot topic of social media for many days, and now the coffee shop has become a popular red dot punching card which is popular among the younger generation.

Subsequently, Alessandro Bogliolo proposed to expand its brand influence, launch new products and strengthen store display, establish a full channel sales system, consolidate the leading position of the brand in the key market, establish efficient business models and strengthen team building. The six strategies are designed to impress more millennials through more recognizable design and bring value returns to shareholders.

He reached a consensus with Reed Krakoff. In the field of luxury jewelry such as Tiffany, the innovation needed is to explore more new ideas on the basis of original products and quality.

In order to adapt to the changes in contemporary consumer attitudes, Reed Krakoff not only reinterpreted the classic "T series" of Tiffany, but also launched the Paper Flowers series with the theme of "suitable for daily wear", and invited the 20 year old Elle Fanning to take the "Moon River" advertisement of the RAP VERSION. The girl standing in front of the window changed from Audrey Hepburn in a little black dress to a Tiffany wearing a blue sweater, creating a fresh and witty image for her.

Alessandro Bogliolo said frankly that his most memorable experience so far in Tiffany is the launch of the Paper Flowers series, which is a new starting point for the brand.

In addition, Reed Krakoff's specially designed $1500 pin and $9000 Mao Xianqiu and other Everyday Objects products also sparked heated debate in the industry, which has attracted the attention of young consumers. Neil Saunders, managing director of GlobalData Retail, an American retail data provider, said Tiffany, which constantly tries new things, is attracting more and more young consumers.

In the first year of joining the Tiffany, Alessandro Bogliolo handed in a brilliant report card. Tiffany sales increased by 7% to 4 billion 400 million dollars, a record high. Although the purchasing power of Chinese tourists in the US market has weakened in the fourth quarter, the mainland of China is still strong, so we have to say that Tiffany has made a bold breakthrough in the localization of the Chinese market.

For the first quarter, the overall sales of Tiffany fell by 3%. Alessandro Bogliolo thought it was just the normal fluctuation of the brand performance, and stressed that the mainland has always maintained a double-digit growth rate. The average customer price of Chinese consumers in Tiffany far exceeds that of consumers in the US, Europe and even Japan, which is very important for the future development of the brand.

Alessandro Bogliolo said that due to the advance of the Chinese market, Tiffany will launch a series of products based on different festivals, and interact with Chinese consumers in a more localized way. "Unlike before, what is happening in China is also affecting the world."

According to the fashion business news, in just 520 of the past, Tiffany launched a limited time boutique in the official WeChat public number, and the 200 sold nearly 20 thousand Modern Keys Necklace sold out in a short span of 6 days. The related advertising is far more effective than the same industry. The rate of praise is as high as 6 times the industry average.

Thanks to Tiffany's "love and dream", which is always emphasized by the brand, the content creation and meticulous touch up on WeChat platform make the brand idea highly consistent with the audience touch scene. In the WeChat user's favorite friend circle advertising TOP10 report, WeChat successfully selected the top ten brand advertisements in China based on user's interactive behavior and advertising effect data index.

Tiffany has boldly chosen to cooperate with the Chinese idol development program of creative camp 2019. Zhou Zhennan, Hololo and other finalists have obtained the key necklace of Tiffany, meaning "open infinity", and the program finally has a total network volume of 3 billion 79 million.

At the same time, as China's luxury electric business environment matures, Tiffany will officially launch e-commerce services in the near future in the official website of the mainland of China. However, Alessandro Bogliolo believes that eventually people will return to the offline purchase of Tiffany products, because jewelry and other clothing, handbags products are different, consumers need to see with their own eyes to truly feel the exquisite workmanship and gem quality represented by Tiffany.

Alessandro Bogliolo has exclusive disclosure to WeChat public number LADYMAX. The next step is to open the electricity supplier service after the official website. Tiffany will also set up official WeChat applet, but the purpose is not to sell products, but to use WeChat's ecological platform of more than 1 billion 100 million active users in this month, so that the new generation of Chinese consumers will have a better understanding of the brand.

When it comes to whether Tiffany will follow the LVMH's introduction of block chaining technology to track the source and authenticity of jewelry, Alessandro Bogliolo expresses that Tiffany does not want to be a technology company, and technology is only a supplement to the brand.

At the beginning of this year, Tiffany decided to disclose the origin information of the 0.18 carats and more diamonds used in its products to consumers. Consumers can obtain relevant information through corresponding display labels when consumers purchase products at the counters, and the origin traceability information is also marked on product packaging boxes and product certificates.

Some analysts believe that the combination of Alessandro Bogliolo and Reed Krakoff really changes the way Tiffany communicate with young consumers. Over time, Millennial Generation and Z generation will become the new force of diamond consumption in the next 20 years, and the desire and demand for authenticity of this group will become more intense.

Consumption is divided into demand and desire, while luxury goods are responsible for manufacturing desire, and creating millennial emotional links has become an important means for luxury sales to seek growth.

For many ambitious luxury brands on the Chinese online market, Tiffany's innovative social marketing strategy is undoubtedly of great reference value. The high-end luxury brand with 182 years of history has firmly grasped the hearts of contemporary young consumers through social networking, big data mining and brand culture.

Michael Silverstein and Neil Fisk wrote in the co authored Trading Up, "many brands' premium is always based on emotion, and consumers have a stronger emotional resonance with other commodities."

However, as the most representative luxury jewellery brand in the United States, Tiffany still can not be taken lightly. After all, it is also facing challenges from European luxury brands such as Bvlgari and Cartire. Most of its competitors rely on luxury giants such as Kai Yun, Li Feng and LVMH. Prada and Gucci have also launched high-end jewelry series.

In this changing era, whatever marketing strategy is phased. A century ago, Tiffany bundled the brand image with Tiffany's breakfast, creating a dream of Tiffany diamond ring with a blue box package for many female consumers. Nowadays, Audrey Hepburn is no longer standing in the window looking. Sitting in the flagship store of Fifth Avenue is not far away.

For the 2019 fiscal year, Alessandro Bogliolo said that Tiffany will continue to improve marketing ideas, enhance product innovation and enhance consumer shopping experience, so as to achieve the goal of sustainable development. It is expected that the performance of the brand will improve again in the second half of this year, and the annual sales volume will maintain a low single digit growth rate.

In view of the continued strength of mainland China's performance, Alessandro Bogliolo revealed that Tiffany will increase its investment in the region, but will not open new stores, but will renovate or relocate existing 35 stores. At the end of May this year, Tiffany's new boutique store in China World Trade Center, Beijing, was officially opened.

YAHOO analysts expect that Tiffany will benefit from the group's efforts to strengthen brand positioning, focus on full channel development, and increase key marketing efforts in China. Upgrading the store experience and enriching product mix will be the next development focus of the brand.

In fact, marriage and love culture never quit the stage of history. Young people still need brands that truly represent their sentimental views. Alessandro Bogliolo repeatedly stressed in the interview that products are still the foundation of Tiffany. No matter how subtle marketing tools are, they will eventually return to the product itself. How to communicate with young people will become a new thinking direction for Tiffany. Author: Zhou Huining