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| Tiffany's regains its lustre as focus on youngsters drives sales surge | Tiffany's regains its lustre as focus on youngsters drives sales surge |
| (35 minutes later) | |
| Tiffany & Co, the famed New York jeweller that last year hired Lady Gaga as its pitchwoman, has blown up analysts’ estimates for first-quarter sales and raised its full-year forecast for profit. | Tiffany & Co, the famed New York jeweller that last year hired Lady Gaga as its pitchwoman, has blown up analysts’ estimates for first-quarter sales and raised its full-year forecast for profit. |
| Shares in the company, made famous by Audrey Hepburn in Breakfast at Tiffany’s, surged 20% and were on track for their best day in more than 17 years. | Shares in the company, made famous by Audrey Hepburn in Breakfast at Tiffany’s, surged 20% and were on track for their best day in more than 17 years. |
| The brand’s plan to target new millennial customers paid off with a China-led 28% jump in Asian sales and a strong 9% jump in its domestic US market. Sales in Europe were up 13%. | The brand’s plan to target new millennial customers paid off with a China-led 28% jump in Asian sales and a strong 9% jump in its domestic US market. Sales in Europe were up 13%. |
| “With local customers the trend has been positive in every single region including Europe,” Alessandro Bogliolo, the chief executive, told Reuters. | “With local customers the trend has been positive in every single region including Europe,” Alessandro Bogliolo, the chief executive, told Reuters. |
| Tiffany’s turnaround strategy involved not only targeting young consumers but lowering the cost of jewellery and introducing more items more often. | Tiffany’s turnaround strategy involved not only targeting young consumers but lowering the cost of jewellery and introducing more items more often. |
| The turnaround was led by Reed Krakoff, the designer who turned the struggling leather-crafter Coach into a $5bn handbag retail giant. | The turnaround was led by Reed Krakoff, the designer who turned the struggling leather-crafter Coach into a $5bn handbag retail giant. |
| Krakoff was hired to strip the 181-year-old company of its “Waspy” formality. He introduced a novel range called Everyday Objects, which included a $165 pizza-cutter and $425 protractors made of sterling silver. | |
| A new range, Paper Flowers, includes platinum bracelets, pendants and earrings. The centrepiece is reportedly a diamond bib necklace dressed in 68 carats of round and pear-shaped diamonds. The bib necklace takes five months to make. | A new range, Paper Flowers, includes platinum bracelets, pendants and earrings. The centrepiece is reportedly a diamond bib necklace dressed in 68 carats of round and pear-shaped diamonds. The bib necklace takes five months to make. |
| The designer told Business of Fashion it was “about stripping away all of the rules associated with fine jewellery”. Tiffany’s prices for the items range from $2,500 to $790,000. | The designer told Business of Fashion it was “about stripping away all of the rules associated with fine jewellery”. Tiffany’s prices for the items range from $2,500 to $790,000. |
| Krakoff also signed Lady Gaga to front the brand before her Super Bowl half-time performance last year. | Krakoff also signed Lady Gaga to front the brand before her Super Bowl half-time performance last year. |
| The 60-second commercial by British photographer David Sims and Welsh styling legend Grace Coddington had Gaga speaking unscripted about her creative process, the importance of self-expression and empowerment. | The 60-second commercial by British photographer David Sims and Welsh styling legend Grace Coddington had Gaga speaking unscripted about her creative process, the importance of self-expression and empowerment. |
| Tiffany & Co’s shares hit an all-time high of $125 on Wednesday. | Tiffany & Co’s shares hit an all-time high of $125 on Wednesday. |
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