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Tiffany CEO Ke Orsky: Diamonds Are Not Affected By China'S Anti-Corruption.

2014/2/13 11:44:00 39

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Asia Pacific Region Anti-Corruption Action Strategy New Rich Class

Kowalski even took the lead in the "windward crime" and brought Tiffany's "treasure of the town store" - the legendary yellow diamond that was discovered in South Africa and 128 carats to China in 1877. (think of Zhang Ziyi's 12 carat "dove egg" that once kept people's mind in mind, and you will know that this grain has set the weight of the yellow diamond for Tiffany's "king of diamonds"). 
During the period of "P" in Beijing, he took an exclusive interview with FT Chinese net. He told the story behind this unique yellow diamond and shared his observation on the new rich people in China's rapid growth and his understanding of luxury. The following is an interview record: 
 FT Chinese net: what message did you bring this legendary yellow diamond to China to convey to Chinese consumers? /p >
 > Volsh: Legend yellow diamond represents all the important a href= "http://www.91se91.com/pioneer/", "information /a" and value behind Tiffany's brand. First of all, its cutting is very exquisite. A total of 82 sections (24 more than the traditional 58 sections) represent the pinnacle of diamond cutting technology. From the quality and texture of the diamond itself, its color is magnificent and unparalleled. Its mosaic methods and the way to show the quality and luster of diamonds are also the top in the world. 
 this yellow diamond was excavated in South Africa before 1877 and purchased by our founder, Mr. Charles Luis Tiffany, in 1878. After buying this yellow diamond, he got the reputation of "king of diamonds", and Tiffany became the authority of the diamond world. From this point of view, the birth of legendary yellow diamond is also a major turning point in our history, indicating that we are transformed from an American company into a global company. 
In the history of P, Tiffany has made several classic designs for legendary yellow diamond. Last year, when Tiffany celebrated the 175 year anniversary of the birth of the brand, we made a new mosaic design for it. Whether in terms of materials, design and technology, the yellow diamond represents the values and principles we believe in and represents the great inheritance of Tiffany. 
 FT Chinese net: have you ever been rich enough to come to ask for a price, and you want to buy it? You are in China now, there are also many rich people here. .
 > Volsh: this kind of thing has happened, we will politely refuse. Someone has asked its price, but its value is hard to estimate, because it is priceless and represents the precious treasure of our "a href=" http://www.91se91.com/pioneer/ "brand inheritance" /a. 
 FT Chinese net: Tiffany company's third quarter strong performance, and what's the impact from China? /p >
 > Volsh: our sales in the Asia Pacific region have increased by 27%, and the factor of removing exchange rate has increased by 29%. In the earnings report, we will not disclose the sales contribution and performance of a specific country. China is, of course, a very important market in the Asia Pacific region. Such a strong performance in the Asia Pacific region is largely driven by demand in China. 
 over the past five years, we have done a lot of work in China, such as increasing expenditure on marketing, and our stores in China have also been developed. Although compared with other brands, we are not the fastest in the local market. We now have 24 stores in China. In brand communication, the experience that customers get from stores is the most important. 
 FT Chinese net: last year, China's economy slowed down, and the new government took a lot of anti-corruption measures after taking office. Is Tiffany worried about the impact of the luxury industry? How can you achieve such a performance? /p >
 > Volsh: just like what I just introduced, Tiffany has been on the very strong growth track. This is because we have strengthened our communication with Chinese consumers to enhance their understanding of the brand. We are not so significantly affected by the anti-corruption campaign. However, our watch sales have made little contribution to our performance. 
 FT Chinese net: do you mean that the impact of watch sales is greater than that of diamonds? /p >
 > Volsh: watch may be in a prominent position in anti-corruption action, but jewelry has not been affected so much. Diamonds are more connected with human emotions. For example, engagement ring is obviously different from the emotional connection and echo of a watch. Tiffany diamond has always been an important moment for people to celebrate their lives. 
 FT Chinese net: do you think diamonds are more private and personal life? /p >
 > Volsh: is such a word. 
 FT Chinese net: what contribution has diamond products made to Tiffany's overall performance? /p >
 > Volsh: our various forms of diamonds account for half of all our products and are also the most important part of our products. For example, engagement diamond ring, broadly speaking, accounts for about 25%-35% of the world. In China, because Chinese consumers are more fond of diamonds, the proportion is slightly higher in the Chinese market. The rest of the products include various jewels and other jewellery products, such as gold, platinum and precious metal fashion jewelry series, such as Atlas, 1837, tiffany key series and so on. Altas's performance in China is also very strong. {page_break} 
 FT Chinese net: the Chinese market may be more and more important to Tiffany. Will the taste style of Chinese consumers affect your design and sales strategy? Or, as long as Tiffany's products are designed, Chinese consumers will be happy to accept it. 
 Volsh: according to our observation, it is the latter. But this does not refer specifically to Chinese consumers. In fact, we see the same situation all over the world. This is also an important point in our "a href=" http://www.91se91.com/pioneer/ "global strategy < /a", that is, we must be faithful to the design concept we believe in. For example, our idea of diamonds is to highlight its high quality. Diamonds are transparent and glitzy, so we choose platinum as the base instead of gold because white is more suitable for color matching. For example, the six claw mosaic we pioneered will enable you to better see the brilliance of the diamond itself. Tiffany has the highest pursuit of design, quality and technology. This value transcends the specific history, culture and country. So we are not going to make some special products for every local market, because we believe and trust people's response to universal values and aesthetics. 
Less than P, we only entered the Chinese market 12 years ago, and now there are 24 stores in China. Compared with the competitors, it may be a bit slow from the speed of opening stores, but it has only begun to speed up recently. In sales channels, we are very cautious. There are no wholesale businesses in the world. They are all self operated stores in China and in the world. Facts have proved that this is also a good strategy. 
 of course, the rise of Chinese consumers has also prompted us to make some changes. For example, Chinese tourists are increasing rapidly, especially Chinese tourists who travel overseas have great purchasing power, so in some important markets, we have added salesmen who speak Chinese in stores. This is the impact of China's surging overseas tourists on our global sales channels. 
 FT Chinese net: now China's new rich class, or "rich generation", is growing rapidly. They are often criticized for their lack of real understanding of luxury and quality because they are too quick to accumulate wealth. What kind of observation do you have about the new rich class in China? 
 > Volsh: 12 years ago when we first arrived in China, we did observe what you have just said. However, we find that in many societies, including the United States, the gap between the a href= "http://www.91se91.com/pioneer/" and the new rich class < /a > in cultural understanding can be quickly made up, so that such a blank can not be felt now. We also have an educational process for consumers in China, so that they can learn more and more. In fact, human understanding of beauty is instinctive and conscious. Though it may not be expressed, the heart will respond well to the beautiful design. This is why Tiffany flourished in China or flourished around the world. 
 FT Chinese net: as more and more emerging market customers, that is, the less prosperous countries, can also afford luxuries. Will the luxury industry redefine what is "luxury"? /p >
The word "luxury" is difficult to define. > strong > > /strong >: the word "luxury" is hard to define. People have different opinions. From a traditional point of view, when it comes to luxuries, we think of high prices. Because we have craftsmanship craftsmanship, rare raw materials in the world, this scarcity means that the price is bound to be high. 
Besides P, luxury goods also have some spiritual qualities. For example, wearing luxury brings you experience and feeling. When you walk into a luxury store, you feel the emotional changes of Tiffany diamond ring. This is a very difficult aspect to quantify. 
 from our business point of view, luxury should be defined in good and beautiful design. Tiffany is not a luxury company. We create Beauty Company because they are beautiful. Many people are willing to use them to commemorate important occasions and occasions in our lives. This is our priority. People will feel the need for beauty and the call from the United States, which will not be limited by specific time and market development level. 
 FT Chinese net: you talk about the spiritual feelings that luxury brings to people. Now Internet shopping is springing up. How can you create this atmosphere on the Internet? Many luxury brands are starting to open online stores. Will Tiffany follow this trend? 
 > Volsh: we are embracing the Internet as well as strengthening the ability of digital marketing and communication, but we have been very careful in this process. 
 network is a very powerful tool. Our website can help consumers understand our brand and products, but our diamonds, engagement rings, the beauty of these products, no matter from color, clarity, technology, mosaic technology, will eventually need "seeing is believing", or to shop personally to experience, to feel the exquisite process. So the network and < a href= "http://www.91se91.com/pioneer/" > entity store < /a > are not contradictory. 
 FT Chinese net: is Tiffany online selling now? /p >
 > Volsh: Yes, our current network sales account for about 6%-7% of the total sales, most of which come from the US market, with a low price. In fact, I don't know if I can distinguish this way, because we will not subdivide online and offline sales in our earnings reports. In any case, we will not slow down the pace of opening stores in China. 
 FT Chinese net: last question, what are you wearing Tiffany's jewels? /p >
 Volsh: cuff button. That's probably the only tiffany jewelry that men can wear.