Tiffany is adding to existing stores in Japan and new stores in Russia, and is targeting China, where plans call for opening three stores per year for the foreseeable future. Tiffany plans to grow sales between 10 and 12 percent per year with strategic initiatives that call for growing sales per square retail foot and opening at least three to four stores per year for the foreseeable future.
1. How rapidly and where should Tiffany add stores?
2. Is Tiffany an enduring luxury brand of unprecedented quality, or has the lower-priced Tiffany trinkets and online diamond retailers tarnished the Tiffany brand?
3. Can the Tiffany brand continue to fulfill the promise of the Blue Box, or is the Tiffany Blue Box just an overpriced, blue box?
These are but a few of the many strategic planning questions that management must address.