In todays Wall Street Journal
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To Refurbish Its Image, Tiffany Risks Profits
By Ellen Byron
In the late 1990s, Tiffany & Co.'s silver charm bracelet was a must-have fashion accessory. Teens jammed Tiffany's hushed stores clamoring for the $110 silver bauble. Sales skyrocketed, investors cheered.
Tiffany's managers worried. They knew the bracelet had become a fad, one that could alienate the jewelry firm's older, wealthier, and more conservative clientele. Worse, it could forever damage Tiffany's reputation for luxury.
"The large number of silver customers did represent a fundamental threat -- not just to the business but to the core franchise of our brand," says Tiffany CEO Michael Kowalski.
So in a dramatic gamble, Tiffany decided ...
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To Refurbish Its Image, Tiffany Risks Profits
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