Tiffany & Co. in Portugal

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Introduction to the PR strategy the team used to opening a Tiffany & Co. store in Lisbon, Portugal.

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Tiffany & Co. in Portugal

  1. 1. TIFFANY & CO. in Portugal Chen-Chen Ho, Mandi Lu, Marie Nicolini, & Zeenat Rasheed
  2. 2. Agenda • Tiffany’s company profile • Portugal market • SWOT Analysis • PR Objectives • Publics • Messages & Strategies • Tactical Programs • Budget • Measurement
  3. 3. Tiffany & Co. • One of the world’s most iconic jewelry brands – Quality, luxury, trust – Blue Box – Breakfast at Tiffany’s • Wide product selection – Diamonds and jewelry, especially engagement rings – Sterling silver – Watches – Fine china and housewares • Exclusive collections by famous designers – Paloma Picasso, Frank Gehry, Elsa Peretti, Jean Schlumberger • New ranges and products launched frequently, based on holiday or season • Grand, opulent stores located in most fashionable areas • Over 150 stores in the U.S. and internationally; 21 in Europe
  4. 4. Lisbon, Portugal • Portugal is located in southwestern Europe – Population: 10.62 million • Lisbon is the biggest city and capital – Metro population: 2.6 million • Popular tourist destination, known for its health tourism • Locals are fashionable and very proud of their rich history, heritage and culture • Famous for producing filigree gold jewelry, typically made by family owned businesses carrying on traditions of craftsmanship • Baixa/Chiado area known for high-end jewelry stores
  5. 5. SWOT Analysis Strengths Weaknesses • Iconic jewelry brand with global • Portuguese are traditional buyers recognition of yellow gold • Prestige, blue box equity • Portugal regulations stipulate that • Wide product variety, including “gold” must have 19.2 karats or affordable ranges more, 18 kt jewelry cannot be • Excellent, personable customer marketed as gold service • Could be perceived as too • Local designer influence in store expensive, exclusive design; locally-inspired collections created for launches
  6. 6. SWOT Analysis Opportunities Threats • Portuguese are fashionable, existing • Lowest per capita income in Europe demand for gold jewelry • Less demand for wedding rings/gifts due • Large tourist base to tap into to more “live-in relationships” and • Receptive to new fashions and design in fewer weddings high-end market • Tend to prefer Portuguese designs and • Increasing number of working women locally produced jewelry has led to rising demand for right hand/ • Due to increase in gold prices, have thumb/cocktail rings have begun to buy costume jewelry • Local Portuguese jewelry industry is • Limited media outlets available: only seeing declining revenues due to 7.5% of Portuguese read a newspaper outsourcing and lack of modernization daily; heavy TV watchers, but less than • Existing Baixa/Chiado area specializes in 20 channels high-end fashion and offers good location for store
  7. 7. Objectives • Position Tiffany jewelry as a must-have – More fashionable and exclusive than locally produced jewelry – Promote brand attributes: quality, luxury, trust • Convince consumers that authentic, non-traditional jewelry is affordable and more desirable than costume jewelry – Possible to balance price with fashion, quality and prestige – Distribute information about 18 kt, white gold and sterling silver Tiffany products • Be seen as a recognized player in the Portuguese and European jewelry industry – Bringing modernization and design to the market – Participate in industry events
  8. 8. Publics Consumers Media Industry Men Women (Proposals, Gifts) TV and Newspaper Journalists Other Retailers, Vendors (Gift to self)
  9. 9. Messages & Strategies You can trust the timeless beauty and exceptional quality of Tiffany’s jewelry to express the depth of your love and commitment • Establish brand essence about the store, jewelry and the blue box in local press Tiffany’s jewelry is an expression of the modern woman’s independence, strength and impeccable taste • Partner with local women’s/fashion magazines to promote the brand Tiffany's can be trusted to provide high-quality, fashionable products, and is committed to building valuable relationships with its customers • Be viewed as high-quality, credible and trustworthy by influential TV and press journalists Tiffany’s is a modern, global enterprise with connections with top-notch designers, and can transform the Portuguese jewelry industry • Participate in industry events and distribute information about the company
  10. 10. Tactical Programs • Consumers: Men & Women – Partner with local women’s/fashion magazine and health spa to hold “pamper yourself sweepstakes”, sponsored by Tiffany’s – Gain a presence on local reality TV programming – Provide jewelry for TV news anchors to wear • Media – Hold an extravagant launch party with blue carpet, local celebrities, exclusive collections, locally inspired collections (Silver Coast/Blue Coast?), and local cuisine/ wines – Distribute press kits – Provide regular press releases on new collection launches – Release quarterly editorial newsletter to share company information – Hold 1-on-1 press outreach events • Industry – Participate in Portjoia (annual international jewelry expo) with a booth, information materials, seminars – Develop reports on industry trends, to gain credibility with trade media, e.g. how changing lifestyles are affecting jewelry consumption trends
  11. 11. Q3-Q4 2009 Flowchart 2009 Q3 Q4 July August September October November December Consumer Health Spa Sweepstakes Health Spa Sweepstakes Reality TV Sponsorship TV News Sponsorship (Marketing) (Event) Media Press Release (about Press Release (about Launch Party Press Outreach Event Quarterly Newsletter Press Release (Dec 1-7) sponsorship) sponsorship) Press Release (about Press Release (about Press Kits Press Outreach Event Press Release (Dec 7-15) Sweepstakes) winner) Press Release (about Quarterly Newsletter Launch) Industry Industry Trend Report Portojoia (EOY) Press Kits
  12. 12. Budget (Q3-Q4 2009) • Tier 3 market • Total Budget: $410K PR Agency Costs Tactical Program Costs
  13. 13. Measurement • O1 & O2: must-have; affordable and more desirable than costume jewelry – Product sales – Positive reviews (clippings) and buzz in the press, magazines, TV shows – Good WOM, in-store comments – Survey to gauge initial progress • O3: recognized player in industry – Leads or new business opportunities generated by trade-show – Positive reviews (clippings) in trade media
  14. 14. Part II: Event Execution • Portojoia Trade Show, September 2009 – Booth – Information materials – Seminars – Training for 1-on-1 interaction with trade visitors
  15. 15. THANK YOU!
  16. 16. Sources • Tiffany.com • CIA.gov • Hoovers.com • Frommers.com • GoLisbon.com • VisitPortgual.com • Portojoia.com • Vault.com Tiffany’s Company Profile • European Journalism Center (EJC.net) • “Tiffany & Company: A Case Study” by Stephanie Blackburn (http://smu.edu/ecenter/discourse/Blackburn.htm) • “The Power of Tiffany’s Blue Box” by Fool.com (http://www.fool.com/news/foth/2001/foth010411.htm) • “The Jewellery Market in Portugal” CBI Market Survey (September 2008) by the Centre for the Promotion of Imports from Developing Countries (CBI.nl)

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