#254: Tiffany & Co – Pantone 1847 Is Their Color
Tiffany & Co was one of the first companies to introduce fixed pricing. Then became the luxury brand of New York. Dave Young: Welcome to the Empire Builders Podcast, teaching business owners the not so secret techniques that took famous businesses from mom-and-pop to major brands. Stephen Semple is a marketing consultant, story collector and storyteller. I’m Stephen’s sidekick and business partner, Dave Young. Before we get into today’s episode, a word from our sponsor, which is, well, it’s us, but we’re highlighting ads we’ve written and produced for our clients, so here’s one of those. [Maven Roofing Ad] Dave Young: Welcome back to the Empire Builders Podcast. Stephen Semple is right there. I’m Dave Young and we’re talking about empires. We’re talking about the businesses that started small and grew into empires. And today we’re talking about, man, these guys have been, I mean, a long time ago. I don’t know. I’m anxious to know the history because I don’t know the history. Stephen Semple: 1837. Dave Young: 1837. And I’m trying to think if I’ve ever been in one of their stores. Maybe. I’ve walked by a couple of them. Stephen Semple: Yes. Dave Young: We’re talking about Tiffany & Co. So that one, Breakfast at Tiffany’s, the little blue box, all of that. Stephen Semple: All of that. Well, and here’s the thing I’m going to say. Anytime I’m in a mall or somewhere that has a Tiffany’s, I always go and take a look at the display windows. And I cannot tell you how many photographs I have of Tiffany’s display windows. Tiffany’s display windows. Dave Young: I have walked by Tiffany’s. Yeah, yeah. Stephen Semple: Tiffany display windows are the best in the business. No one does it better. I will go out of my way to go see one. I probably have got 50 pictures in my phone of Tiffany displays. They’re spectacular. And they update them. Their website, here’s one of the other things that’s crazy. I don’t know how often they update their website, but I continually go back and take a look at their website and it’s almost always completely redone with brand new photography, brand new feature items, brand new stories. But here’s the interesting thing. So they were founded in 1837. Today there are about 300 stores worldwide, 14,000 employees. They do five billion in revenue. A chunk of the company was bought by LVMH back in 2021 at a valuation of $16 billion. Everyone recognizes the Tiffany Blue Box. It’s a part of pop culture. And it’s frankly, probably one of the largest, most recognizable luxury brands on the planet. Did not start out in jewelry. Dave Young: Oh, gosh. Oh, gosh. Now I have to guess. Stephen […]
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