NEW DELHI : Tiffany & Co., in partnership with Reliance Group, has announced the launch of its local e-commerce site, tiffany.co.in. The online portal will mirror the products seen in offline store and sell the iconic jewellery brand’s collections of gemstones, diamonds and crafted jewellery.
The launch of the website, the company said in a statement, will showcase its T1 collection—a reimagining of its T collection celebrating the iconic “T” motif—featured in the brand’s jewellery designs since the 1980s. It will also have its HardWear, Victoria and True collections as well as the Home & Accessories range.
The website will also include the ability to book diamond consultations with in-house experts, in-store private appointments, personal shopper services, facility to wish-list products, among others. The company said it will also have a section for rings.
Tiffany has taken a step in diamond traceability by sharing the craftsmanship journey of its registered diamonds (0.18 carats or larger). The company discloses the country where each stone is crafted and set in.
Globally, Tiffany has over 300 retail stores. But in India its offline presence is still limited. The company entered the market through a joint venture with Mukesh Ambani’s Reliance Brands Limited (RBL) and has one store which launched in 2020 just ahead of the pandemic.
In January this year, French fashion major LVMH Moët Hennessy Louis Vuitton acquired Tiffany & Co., for $16.2 billion.
Globally, the company competes with Tai Fook, LVMH, Harry Winston, Signet Jewelers and Worthy. Back home, the jewellery market remains largely unorganised though the country has seen the rise of big retailers like Tanishq, PC Jewellers, Joyalukkas, Malabar Gold and Kalyan Jewellers, among others for gold and diamond jewellery.
The branded, organized segment, according to analysis website Statista, has grown from about 5% in 2005 to an estimated 32% in 2020. During the pandemic, a lot of these businesses have also pivoted to online sales.
Source : https://www.livemint.com/companies/news/jewellery-brand-tiffany-co-launches-e-commerce-platform-in-india-11634627888499.html