You can’t buy very much at Tiffany for $100. But that’s about what you’d pay this morning for a share of the company’s stock–and that might be a good idea. The truly legendary New York jewelry retailer–with its instantly recognizable little blue boxes, traditional roots and Paloma Picasso’s funky designs–announced it beat expectations for the second straight quarter as sales keep rising.
Always an engagement ring go-to spot, Tiffany has also succeed with its lower-priced entries–especially its Atlas Collection. Customers can purchase a little piece of this great brand for less than $500 by choosing chic jewelry from Atlas, and the blue box is free. Sales rose 8% in the quarter ending in July. Tiffany has an interesting situation: its American stores account for over half its business, but foreign tourists flock to its American stores–especially the New York Fifth Avenue flagship–so its reach is global even from home. Tiffany customers may be its best marketers.