Thursday, January 31, 2013

Chapter 1. Overview of Marketing (Brief History and Mission Statement)

Writing about Tiffany & Co. is very exciting to me since I was always enchanted by its great taste and style. This company is worldwide known by its luxurious jewelry which is designed by the famous artists such as Paloma Picasso, Frank Gehry, Elsa Peretti, Joan Schlumberger etc. Tiffany & Co. headquarters are located on the Fifth Avenue, in NYC. The company specializes not only in diamond jewelry but also in sterling silver, china, crystal, fragrances, personal accessories and some leather goods.

                                                          History Facts:

1837 -   Originally founded in New York City by Charles Lewis Tiffany and Teddy Young 
             and named as Tiffany, Young and Ellis.
1853 -   When Charles Tiffany became a head of the company, the name was changed to Tiffany & 
1845 -   The "Blue Book," the first Tiffany's mail catalog, was put in print.
1862 -   Tiffany & Co. equipped the Union Army with swords, flags and surgical instruments.
1867 -   The company became the first american firm that won an award for the outstanding work in   
             silverware in Paris.
1902 -   After his father's death, Louis Comfort Tiffany became the firm's first authorized Design 
1919 -   By the United States Department of the Navy request, Tiffany & Co. modified the Medal of 
1956 -   The first-class designer Jean Schlumberger joined the company.
1968 -   On behalf of the US First Lady, Lady Bird Johnson, Tiffany designed a White House service.
1978 -   Avon Products Inc. bought Tiffany & Co. for $104 million in stock.
1984 -   An investor group directed by William R. Chaney bought Tiffany for $135.5 million in cash.
1987 -   The company went public and sold 4.5 millions shares of common stock.
2000 -   The Tiffany & Co. Foundation was formed to contribute to nonprofit organizations working 
              in the environment and the arts.
2008 -   The Japanese mobile phone operator SoftBank and Tiffany & Co. joined together to create a 
              limited edition cellphone that contained more than 400 diamonds and was evaluated in 
             100,000,000 yen.

                                                    Mission Statement:

Tiffany & Co. objective is to maintain an ethical business that is qualitative and sustainable. The company strives to protect the interests of stockholders by making responsible decisions that show the brand's righteousness. Its goal is to improve the communities where the company operates and sells its goods. Also, Tiffany & Co. understands how important is to enhance the environmental performance of the company. It continuously works with the employees, supply chain, stockholders, local communities and civil society to build up the company's social impact and diminish its environmental impact.