Tiffany. From hope to evidence.
Tiffany invented the engagement ring setting 140 years ago. Now it sells 100,000 pound necklaces, because its best customer is already married.
THE GIST ON TIFFANY: "From Hope to Evidence"
What does Tiffany sell now?
Tiffany invented the engagement ring 140 years ago. Today they're selling 100,000 pound necklaces. The brand built on weddings has moved on, because their best customer is already married.
What did Tiffany invent?
In 1886, Tiffany came up with the aptly named Tiffany setting: six little prongs that lifted the diamond off the ring and made it the thing you noticed. Before that, engagement rings hid the stone in a flat bezel.
Tiffany made the diamond the show, and every engagement ring since has copied that design.
What changed?
For 140 years the engagement ring paid the bills. Then things changed, and high jewellery is the bit of the business that has quadrupled in five years. They want Tiffany to be the biggest jeweller in the world by 2030, even bigger than Cartier. The engagement ring is still on the shelf. It's just not what they're chasing anymore.
Why does that matter?
The engagement ring sold aspiration: young couples stretching for what they hoped to become. High jewellery sells the opposite, wealth showing that it has already arrived. Tiffany used to sell hope. Now it sells evidence.
It's a very simple rule. All brands follow the money, and it's very likely your favourites are going somewhere you can't afford. The relationship was never mutual. Did you think it was?
Do luxury brands owe loyalty to their first customers?
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Quick answers
What is the Tiffany setting?
Six prongs, introduced in 1886, that lifted the diamond off the ring so it became what you noticed. Before that, rings hid the stone in a flat bezel.
What has quadrupled at Tiffany?
Huw says high jewellery has quadrupled in five years.
What is Tiffany aiming for?
To be the biggest jeweller in the world by 2030, bigger than Cartier.
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