The luxury firm Tiffany & Co hopes to capture a younger audience and offer a different customer service experience by remodeling their flagship store.
US jewelry and goldsmith Tiffany’s plans a renovation to its flagship store on 57th Street in Manhattan, New York. The CEO of the company, Alessandro Bogliolo, told Retail Wire that the 10-story building has been renovated several times since its inauguration in 1940, however, this new change will be in order to demonstrate a new face of the firm to his clients.
The remodeling will consist in expanding the area dedicated to retail and events, because only 45,000 of the 124,000 square feet are used to sell. Likewise, emphasis will be given to the hospitality that will be offered to customers, the space for VIP clients and the experience in Blue Box Coffee will be reinforced.
This renewal will begin next spring and will continue during the vacations of 2021, likewise, this change comes after the firm has recovered with its second consecutive quarter of robust sales thanks to the growing success it is achieving in the young public.
After opening Blue Box Coffee, there has been a positive response from customers, who can now experience their own Breakfast at Tiffany’s. In addition, this environment has encouraged younger consumers to connect better with the brand by being in a less formal place.
The new marketing of Tiffany & Co features celebrities and younger messages, including actress Elle Fanning in a commercial dance and a hip-hop version of “Moon River,” the iconic song from the movie “Breakfast at Tiffany’s”
It should be noted that Andrea Davey, senior vice president of marketing for Tiffany, told the Wall Street Journal that Millennials are looking for a luxury experience that is not so formal.
“Fine craftsmanship, superlative design and lasting beauty are more resonant with this generation than ever, so much so that we are creating and selling pieces that you can live with every day, and not just for special occasions.”