Tiffany & Co are branching out from their egg-shell blue boxes with expansion plans set to introduce a new range of handbags and accessories. Whilst planning for capital outlays of 6% to 7% of sales this year, this new expansion looks to have a positive impact on the companies share price.
The lucrative handbag market is not necessarily an easy road for luxury jewellery brands to extend to. The world’s largest jewellery brand Cartier has included handbags in their range for some time, yet it is unusual to see such products featured in fashion editorials. In addition, we can’t remember a time when Cartier or Bulgari handbags were labelled as the ‘it’ bags du jour.
Although the introduction of handbags into jewellery brands seems to leave the former as a mere after thought to the companies core pieces, nonetheless we imagine Tiffany & Co. will prosper from this expansion as the wider product breadth will attract new customers, and maintain loyal clients.
Image credit: tiffany.com
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