Tiffany & Co. seeks to elevate its division by betting on high jewelry

Anthony Ledru, CEO of Tiffany & Co, has spoken about his intention to launch a series of experiential high jewelry retail events around the world featuring the brand’s designs. In January, its 2022 annual report indicated that the company doubled its high jewelry revenue.

It recently held its first event of its kind, “Diamonds and Wonders” in Park City (Utah), where the firm exhibited a “cross section” of pieces giving great prominence to white diamonds, including a necklace with a stone of more than 100 carats with the same proportions as the legendary Tiffany yellow diamond. The event will take place in Shanghai on April 13, and will then continue in Sydney.

Ledru spoke about the rapid rise of high jewelry: “They are everywhere: before they were in the US, Singapore, the Middle East. Now high jewelry clients are in Paris, London, everywhere, more than before. I think the wealth creation in the last 10 years has been extraordinary.” He explained, “There’s a huge appetite for fine jewelry and Tiffany was maybe a little bit dormant in the past, but we’ve gone from one [collection] to multiples of one.”

The brand’s plans intend for jewelry to remain a place for all demographics. Ledru differentiates between two types of high jewelry consumers, “One is purists and those interested in heritage. They want to be part of that club of brands that own heritage with a clear style, and there are four or five brands in the world.” He adds, “The second [group] is new-they’re younger and buying cool. They are in China, parts of Southeast Asia and other parts of the world: they buy high jewelry from fashion brands. So it’s the cool factor of Tiffany that attracts them.” Ledru intends for Tiffany to remain a special brand for jewelry buyers by understanding the consumer values of each segment.

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