TIffany & Co. Attempts to Appeal To Younger Crowd
Tiffany & Co. launched a partnership with Nike that sent social media in a tailspin. The announcement aptly titled “A Legendary Pair” featured a new Air Force 1 variation. Though the collaboration, already endorsed by Lebron James, will also sell sterling silver jewelry, the shoes gained extreme traction. On social media, the reactions were mixed. Some called it lazy while others deemed it “branding heaven.”
The collaboration is not unusual considering the relatively new leadership at Tiffany & Co. Nor has the company strayed away from trendy partnerships in the last few months. In August of last year, Tiffany’s debuted NFT pendants dubbed ‘NFTiff’ for CryptoPunks holders. Two summers before, they released an advertisement with the slogan “Not Your Mother’s Tiffany’s”. Some customers deemed the ad ageist but the NFT collection sold out.
Shying Away From Tiffany & Co. Tradition
This desire to revive a company deeply rooted in tradition is not new for Alexandre Arnault, the executive vice president. Whilst starting out at LVMH, he bought and resuscitated luxury luggage brand RIMOWA from the Morszeck family. The brand has become synonymous with high quality travel, spotted on celebrities from Martha Stewart to Kanye West.
RIMOWA became a success, but can he do the same for Tiffany & Co.? But more importantly, does the brand need a transformation in the first place?
Iconized by the film ‘Breakfast at Tiffany’s’, the jewelry is the face of classic American style. For many, the appeal is within the idea of participating in a certain femininity, grace that comes with wearing your mother’s jewelry.
The wide price range offered by Tiffany’s sets it apart from its competitors. However, the newest Air Force 1s will apparently cost $400. So will the brand be able to target young customers as they probably hope? Celebrity endorsements such as James might help.
But the collaboration itself, releasing on March 7, needs to stand on its own through customer response and satisfaction. Only then can this new era of Tiffany & Co. survive.
Featured Image via Women’s Wear Daily