Tiffany & Co., in collaboration with Reliance Group is planning to launch a local eCommerce platform, tiffany.co.in. The portal will bring the offline products to online and will sell collections of the iconic jewelry brand with gemstones, diamonds and handmade jewelry.
The company said the launch of the website will showcase the T1 collection – a reinterpretation of the T collection that celebrates the iconic “T” motif – that has been on the brand’s jewelry designs since the 1980s. The website allows you to book diamond consultations with in-house experts. The company said it will also have a ring division.
Tiffany has made progress in traceability of diamonds by sharing the craftsmanship of its registered diamonds (0.18 carats or larger). The company announces in which country each stone is made and used.
The company has entered into a partnership with Reliance Brands Limited and started a store that opened just before the pandemic. In January of this year, French fashion group LVMH Moët Hennessy acquired Louis Vuitton Tiffany & Co. for $ 16.2 billion. Globally, the company is a competitor to Tai Fook, LVMH, Harry Winston, Signet Jewelers and Worthy. The jewelry market in the mainland is still largely untidy, although major retailers such as Tanishq, PC Jewelers, Joyalukkas, Malabar Gold and Kalyan Jewelers for gold and silver jewelry, diamonds, etc. have emerged as the major market brands.
According to the statista analytics website, the organized brands segment grew from about 5% in 2005 to about 32% by 2020. During the pandemic, many of these companies also switched to online sales.
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