The timeless jeweller, Tiffany & Co. has massive plans to appeal to the Millennial generation. According to The Guardian, the company has blown up analysts’ estimates for first-quarter sales.
“Shares in the company, made famous by Audrey Hepburn in Breakfast at Tiffany’s, surged 20% and were on track for their best day in more than 17 years,” reported the Toronto Guardian.
Tiffany has begun lowering the cost of jewellery and introducing more items more often, in an attempt for a turnaround strategy targeting young consumers. This was led by Reed Krakoff, the designer who turned Coach into a $5 billion handbag retail giant. “He was hired to strip the 181-year-old company of it’s “waspy” formality.” Krakoff signed Lady Gaga to front the brand before her Super Bowl half-time performance last year.
“Tiffany & Co’s shares hit an all-time high of $125 on Wednesday,” said The Guardian.
Source: The Guardian
Featured Image: Instagram/@tiffanyandco
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