Moscow to don Tiffany Blue for the first time
NEW YORK — Tiffany & Co. plans to open a two-level shop in Moscow’s GUM department store, the city’s leading luxury shopping destination, located in Red Square. The 4,520-sq.-ft. space is the jeweler’s first wholly owned retail business in Russia, and is expected to open in the first quarter 2014.
“Establishing a presence at this preeminent department store is a milestone in our growth strategy as a leading global luxury brand and underscores the importance of the Russian market,” said EVP Frederic Cumenal. “We’ve designed the store with the warmth and elegance that make our legendary jewelry collections a pleasure to explore, and we look forward to welcoming everyone to the Tiffany shopping experience.”
The store will carry the jewelry for which Tiffany is renowned, as well as the creations of the jeweler’s exclusive designers Elsa Peretti, Jean Schlumberger and Paloma Picasso.
The store’s interior will feature archival motifs symbolic of the company’s brand, including its signature Tiffany Blue; polished stainless steel details with the same wheat leaf pattern that frames the entrance of the jeweler’s Fifth Avenue flagship store; marble and amazonite floors; and custom furnishings inspired by the stained glass works of Art Nouveau designer Louis Comfort Tiffany, son of the company’s founder, Charles Lewis Tiffany.
Tiffany & Co. operates jewelry stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The company operates Tiffany & Co. retail stores and boutiques in the Americas, Asia-Pacific, Japan, Europe and the United Arab Emirates and engages in direct selling through Internet, catalogue and business gift operations.
Study: Father’s Day sales up 2% in 2013
Thanks to a rebounding economy, dads this year stand to get more than just a boring tie, a pair of socks or a pat on the back for Father’s Day.
According to industry research firm IBISWorld, Father’s Day sales are expected to total $13 billion this year, a 2% increase from 2012. Traditional Father’s Day gifts, such as automotive accessories and clothing, will take a backseat to gift choices reflecting economic recovery, like home-improvement tools. This increase is mainly due to the overall rise in consumer spending during the past year.
Special outings, like dining out and watching sporting events, are expected to account for the largest share of Father’s Day spending this year, contributing 18.8% of total holiday sales, up 3.5% from 2012. Specifically, spending at restaurants is expected to increase in revenue on Father’s Day as families go out to eat to celebrate dad.
Books, CDs, personal care products and sporting goods, which make up the "Other" category, are a close second to those special outings, and are anticipated to account for 18.4% of this holiday’s spending. These gifts are estimated to increase 2% from last year as consumers shift away from more practical gifts like clothing. Because consumers have higher disposable income levels than they did during the recession, they have more flexibility in buying discretionary gifts, such as golf clubs.
Even greeting card sales are estimated to jump; although they will only account for 7 % of total holiday spending, greeting card sales are expected to jump 9% from 2012, thanks to higher disposable incomes. Additionally, the growth in popularity of handcrafted greetings cards, driven by consumers’ willingness to spend on personalized goods, will help boost spending on this category.
Clothing and electronics, both popular, long-standing choices for dad, are estimated to account for more than one-quarter of Father’s Day spending combined. Spending on clothing, however, is expected to slightly decline as consumers change preferences and increase spending on electronics, such as an iPod touch or Amazon Kindle Fire. Gift cards will also remain a holiday mainstay this year because of their ease, convenience and their ability to let dad choose his own gift. They are estimated to account for the same amount of Father’s Day spending as they did last year at 13%.
Despite strong growth in overall spending on Father’s Day this year, spending on automotive accessories is estimated to drop 3.4% from 2012. Even though the automotive industry is expected to show signs of growth in 2013, consumer preferences for Father’s Day gifts have started to shift from car accessories to home-improvement gifts. This is because of rises in housing prices and disposable income levels, which have led consumers to put time and money into do-it-yourself home repairs. Homeowners have veered away from hiring outside workers or contractors, as they are still adhering to tight budgets after the recent housing crash. These factors are estimated to boost consumer spending in this gift category in 2013.
2013 IRCE kicks off June 4
The world of e-commerce is gearing up for the 9th annual Internet Retailer Conference and Exhibition, which will be held at Chicago’s McCormick Place West from June 4-7. This year’s theme is "Breaking Barriers."
The conference aims to analyze the social, mobile, global, personal, interactive and managerial changes that e-commerce players are bringing to the new retail economy. Online retailing and wholesaling professionals and consumer marketers who attend the educational event have direct access to insights and analysis that can give their businesses a competitive advantage in the ever-expanding segment.
IRCE 2013 expects to draw 9,500 e-retailing executives, from up-and-coming startups to long-established retail chains, representing more than 40 countries. They will be treated to a customizable agenda that features 205 speakers and 120 sessions, plus 5 workshops (pre- and post-conference, held on June 4 and 7, respectively) and 10 tracks running concurrently on the two main conference days (June 5 and 6) on subjects that include maximizing the effectiveness of rapidly evolving, consumer-empowering interactive technologies and social media platforms and dismantling internal barriers within an organization to facilitate more profitable Web-based businesses.
Some of the topics covered at the conference include harnessing the social marketing revolution for your e-commerce business, preparing for the massive shift to mobile devices, taking advantage of the web’s global reach and creating web designs and merchandising strategies that convert shoppers to buyers.
The 250,000-sq.-ft. exhibit hall will house displays of e-commerce technology from 570 e-commerce vendors.
IRCE speakers are trailblazers chosen by Internet Retailer’s award-winning editorial staff based on each speaker’s expertise. The special guest speaker is former VP of the United States Al Gore, a leader in technology and global investment and innovation. The keynote speaker is Rakuten CEO Hiroshi Mikitani. The keynote speaker for Day 2 will be CEO of HSNi Mindy Grossman, and the featured speaker on June 6 will be Alex Zhardanovsky, co-founder of PetFlow.com.